THE BLOG
10/30/2015 05:02 pm ET Updated Dec 06, 2017

Demystifying Financial Literacy for African Americans

One in five African Americans participating in a national survey give themselves a failing grade of "F" for their knowledge of investing, planning for wealth transfer and saving or investing for a child's education.*

In response to this, the Rainbow Push Coalition has partnered with Chevrolet and created Money Matters, a new workshop series created specifically to help African American consumers demystify the complexities of financial literacy and improve their financial grade.

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As a financial educator myself via my company, The Budgetnista, I like that this program was created for African Americans based on our history and reality about spending versus saving and investing money. Money Matters presentations will address the many money myths holding back many African Americans when it comes to passing a financial literacy test. And the best part is the workshops are free.

Financial education is no longer a luxury. In order to successfully navigate adulthood, a basic understanding of how money works is essential. According to a Nielsen Study, African Americans have a buying power of over $1 trillion*. This sector needs financial education now more than ever. The Money Matters Tour is a step in the right direction.

The workshops are hosted by Rev. Jesse L. Jackson, Sr. and Rainbow PUSH Coalition and sponsored by Chevrolet. For more than forty years, Rev. Jackson continues to merge business and community together to help level the economic playing field for African Americans.

Some of the nation's leading financial experts will present at the Money Matters workshops and our presentations are designed to benefit a cross-section of African Americans at various levels of financial literacy. There's information to benefit all ages with varied experiences, situations and circumstances called life.

The goal is to have everyone walk away with the tools and resources to develop an individualized plan for their financial journey.

The free, upcoming Money Matters workshops are scheduled in Atlanta (Saturday, Oct. 31 and Chicago (Saturday, Nov. 7). You can register for these free events at www.rainbowpush.org.

* Prudential's 2015 African American Financial Experience Survey: http://www.prudential.com/media/managed/aa/AAStudy.pdf

* Nielsen Study:
http://www.nielsen.com/us/en/insights/news/2013/african-american-consumers-are-more-relevant-than-ever.html