April 15, 2013
IF YOU HAVE no money, the concept of financial literacy can seem like the punch line of a sick joke. But, in fact, low- and moderate-income people can often benefit the most from being more informed about taking control of their finances, and an increasing number of institutions and foundations are recognizing this. Two this month are worth noting - not just because April is National Financial Literacy month, but primarily because they target an audience that is, at best, overlooked and, at worst, often ill-served by questionable practices.
April 11, 2013 |
Hello there In late summer 2010, Howie, an actor and producer from Washington Township, Gloucester County, was in search of leadership skills with a Jesuit perspective. On the advice of a friend studying to be a priest, he signed up for the Contemplative Leaders in Action group at Old St. Joe's in Philadelphia. Jaclyn, a financial analyst, had signed up for the same course in 2009 to keep a friend company. When a change in the schedule led to a conflict with Jaclyn's Temple University MBA classes, she deferred to the 2010 session.
April 5, 2013
THE MAJOR financial activity people associate with April is tax day. But April is also the perfect month to push financial literacy. After all, you've had to pull together major information about your finances to do your taxes. So, what are you doing for Financial Literacy Month? I get questions all the time from people who want to better handle their finances. During a recent speaking event, a worker asked me how he could get his wife to show more interest in their finances.
March 6, 2013 |
City of Chester officials will announce today that the city has received a grant to support a financial literacy course for the city's summer youth program. The $4,000 DollarWise Grant Award, from the the Bank of America Charitable Foundation, will support a six-week paid internship for Chester youths. The program is designed to provide hands-on work experience and professional development. There is also a financial educational component. Chester officials and those from four other cities - Wichita, St. Louis, Kokomo, IN and Richmond, VA - learned they were awarded the grant at the U.S. Conference of Mayors this past January.
February 18, 2013
By Neil D. Theobald As the new president of Temple University, I have spent my first weeks talking with students, faculty, alumni, and others in Philadelphia and around the commonwealth. I have been struck by the enthusiastic and open welcome and the willingness of people to share their hopes and dreams about Temple. At the same time, an important question runs through these conversations: How do we help students earn their degrees without amassing excessive debt? A Temple degree is a valuable asset that pays dividends over the lifetime of our graduates.
January 25, 2013 |
A 2010 Brookings Institution survey found that half of American adults flunk such financial literacy questions as this: If the interest rate on your savings account were 1 percent per year, and inflation were 2 percent, would you be able to buy more than, exactly the same as, or less than today with the money in this account after a year? (The answer is less.) Other surveys show that women, African Americans, Hispanics, and the less educated are consistently less likely to be financially literate.
July 20, 2012 |
WASHINGTON - Higher-education experts on Thursday gave a Senate committee their suggestions for improving college affordability in the hopes those ideas could be adopted on a national level. During a Health, Education, Labor and Pensions Committee hearing, the panel members discussed the efforts they had made in their respective institutions that, they said, have bucked the national trend of ever-growing financial barriers to college, especially for low-income families. "College is increasingly out of reach for students from working families, and our nation is losing ground in having a well-educated workforce that can compete in the global economy," Sen. Tom Harkin (D., Iowa)
May 5, 2012 |
Nearly 70 percent of the nation's community-based organizations say housing discrimination continues unabated, especially against immigrants, disabled people, and families with children, results of a recent survey indicate. Nearly 550 community groups surveyed in April by the nonprofit advocacy organization Consumer Action said that most of those facing discrimination are unsure of their rights and how to protect themselves. At a news conference sponsored by Consumer Action in Washington, D.C., Thursday, John Chin, executive director of the Philadelphia Chinatown Development Corp., said many of those facing discrimination often aren't even aware of it, owing to their limited proficiency in English.
April 17, 2012 |
This year, both Tax Day and Financial Literacy Day fall on this date. Perhaps we should connect the dots. Many of us are painfully mired in debt and struggling to make ends meet. As of the end of last year, the average U.S. household with credit card debt owed nearly $16,000. Meanwhile, we have failed to make practical financial education a priority. According the Council for Economic Education, only 13 states required students to learn about personal finance as a high school graduation requirement in 2011.
April 11, 2012 |
On Saturday mornings for the last few months, Wharton professor Keith Weigelt has taught West Philadelphia residents - they call him Mr. Keith - about money, earning, saving, investing. For many students, this was the first time they learned about mutual funds. "White households have 20 times the amount of median wealth as black households," says Weigelt, 61. "We're trying to reduce the wealth gap by teaching financial literacy. I had this woman in tears telling me that, for the first time, she feels she can get out of poverty.