Financial literacy

Lake Darling, Alexandra, Minnesota

I gave a talk on April 22 before the 2010 MN Financial Fitness annual meeting. It was held in Alexandria, MN. I took a short walk alongside the lake before heading into the conference. It was a beautiful day.

The Family Assets for Independence in Minnesota (FAIM) works with a variety of state, local, philanthropic and nonprofit organizations to improve financial literacy among low income families. The core program is a 3-for-1 match up to $3,800. In other words for every $1 a poor family sets aside in savings its matched with $3. The group also holds financial literacy classes with an aim toward helping people steer clear of predatory lenders. The topic of my talk was The Role of Financial Education in Addressing Generational Poverty. These  people do really important work.

Now, let’s catch up on what I’ve been doing this week. For Bloomberg BusinessWeek a commentary on financial innovation. For the Star Tribune, more thoughts on the value of savings in taxable accounts. For the Marketplace Morning Report, why the U.S. needs to move away from all the incentives built into the tax code to encourage homeownership.