First recognized in 2004, Financial Literacy Month raises awareness on the importance of financial literacy and highlights resources and techniques to become financially knowledgeable, both personally and business-wise. In this month’s blog, we’re highlighting three sources for improving financial literacy. Dr. Ja-Neair (Jay) Macklin, Founding Executive Director of Stop the Violence Coalition Inc. (STVC) and Founder of the Academy for Peace; Darrin Wilson, Community Banking Manager of JPMorgan Chase; and SCORE, a nonprofit organization dedicated to helping small businesses get off the ground and grow through education and mentorship.
Dr. Jay Macklin
is a longtime resident of Delaware, community leader and public servant. She believes peace and prosperity is available for everyone and is passionate about helping everyone that is interested in achieving it.
“In the early '90s after being in the banking business for several years I became interested in how to present financial literacy to the community, particularly in the churches and small home-based businesses. After writing a curriculum entitled “How to Overcome Your Giant Financial Problems,” I was prepared to carry the message of economic empowerment and financial literacy anywhere the door was open. I offered my skills and curriculum to various individuals and organizations that were interested in financial peace and freedom. The more people I encountered, the more lives were changed. My message helped people make budgets, buy and build homes, send children to college, get better jobs, and generally live a financially wiser life. Word began to spread about this successful curriculum and was eventually requested to be shared in the public library system throughout the state of Delaware as well as more churches, schools, community organizations and businesses. This curriculum is now a featured program at the STVC/ Academy for Peace called R.I.C.H (Realizing Independence, Creativity and Happiness). One on one classes, group and business workshops, as well as personal development sessions are held weekly for anyone interested. Downtown Visions' new ambassadors have had the opportunity to receive financial empowerment classes as well. Our mission is simple, we believe everyone can be R.I.C.H. We promote opportunities and information that lead to pathways for economic empowerment, inner peace and happiness.
Here are some tips:
1) Don’t be afraid of your finances! Get all the information you need to know in order to improve your financial health.
2) Know what you have coming in and going out! Open up the checkbook, gather all receipts, check stubs, bills and bank statements. Read, Review and Understand where your money is going.
3) Start a simple budget! Now that you have read everything, review what is going on and understand where your money is going. Focus on creating a simple budget to make your spending benefit you and keep more money in your pocket.
4) Save! Pay yourself first. At least 10% of your pay should be saved monthly.
5) Give! to the charity of your choice as often as you can.
6) Stop by Academy for Peace for a free R.I.C.H consultation! When you want, or need a little guidance, come see us.
7) Believe you can be R.I.C.H! If you believe it, you can achieve it.
For more information on the Academy for Peace and the services they offer visit their Facebook page, email theacademyforpeace@gmail.com or visit at 203 N. Market Street.
Whether it is personal or business, understanding and prioritizing your finances can be a daunting task. Below are a two additional resources to help you on your journey to financial literacy:
Darrin Wilson, the Community Banking Manager for JPMorgan Chase in Downtown Wilmington, offers resources on how to protect you and your money, including security tips on avoiding scams and financial abuse as well as keeping your money and personal information safe. Read security tips here. For more information contact Mr. Wilson at darrin.wilson@chase.com
SCORE, Located at 1105 N Market Street, is the nation’s largest network of volunteer and experienced business mentors. They are dedicated to helping small businesses get off the ground, grow and achieve their goals. Founded in 1964 as a nonprofit resource partner of the U.S. Small Business Administration (SBA), SCORE provides a wide range of services to budding and established business owners such as mentoring, webinars, online resources, and workshops. SCORE’s mission is to foster vibrant small business communities through mentoring and education. For more information on SCORE, contact them at 302-661-2366 or click here.