What is Financial Literacy?
The ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning, and the discipline to use those skills every day.
OBJECTIVE: Historically we have found that in the United States, we make great efforts to teach children
to read and write, but we don’t do a great job at giving their financial literacy the same attention. As a
result, few people know how to properly manage their personal financial lives creating a long cycle of
bad financial decisions and the inevitable rat race of trying to keep up with the day to day of life
expenses that have now been created and often ignoring any future plan or hope for financial freedom;
and what it takes to get there. This is as you can properly already imagine an even greater issue with
youth that are “at risk” and living in low-income environments. We here at FIG understand that this
needs to change; and it is our hope that by adding this component to our course curriculum of the
organization that we can bring awareness to the fleeting issue of financial literacy. We are committed to
partnering with our local community partners to teach these concepts, and principles that they can
begin to apply to their lives. Once our participants have completed our comprehensive program
we will offer them the opportunity to move forward with our "Home Readiness Program” giving them the
opportunity to participate in our “rent to own” program which our main mission at the end of this would be creating opportunities for homeownership.
Wayne Metro is a non-profit human service agency that provides needs-driven, holistic assistance to individuals and families. You can learn more about the 75 plus programs and services we offer by visiting WayneMetro.org, or by calling (313) 388-9799!
Bank On Detroit
Bank On Detroit is a collaboration between financial institutions, community-based organizations and local government to ensure that all residents have the opportunity to be financially healthy. Together, we are working to connect people to safe, affordable, and certified banking accounts. This coalition works together to create awareness and access to mainstream banking relationships that follow the Bank On National Accounts Standards. Our members also offer services and educational resources that help empower people and families to improve their financial capability, health and independence.