In 1997, Manny began teaching financial literacy at Ritter House in San Rafael. During this time, he learned about Novato?s Hamilton Project which included affordable housing. He wanted to take part, however his credit was damaged due to his divorce. After resolving his own credit issues, he developed a ?Financial Self Help Program? to assist others? dreams of affordable housing. As a result, people began referring clients; thirteen years later he became the Executive Director of Marin Family Action.
In October 2003, Manny was the first recipient of the Marin Economic Commission Award of Excellence for ?Individual Achievement in Workforce Preparedness,? which was presented to Manny as an individual because of his ?Financial Self Help Program.?
Manny?s history of community involvement has been featured in news stories since 2007. Following is an overview of just one of his many important contributions to Marin County.
Combined, those agencies represent the Coalition of Financial Institutions for Youth Financial Literacy in Marin County.
In 2007 the pilot program was rolled out. It continues today with funding from HSBC, USBank, Union Bank, and Pacific Gas and Electric Company. It includes workshops with Marin District Attorney David Ball. The program includes:
- Basic budgeting
- Basic banking
- What credit is (and how to use it wisely)
- Budgets
- Identity theft and life skills
- An important part of credit is checking your credit report at least once a year: This is in part due to the American credit scoring system, which is a mess. 80% of Americans have an error on their credit score that is not necessarily accurate. Incorrect reporting means that you pay more interest on everything you charge: clothes, car, your home . . .
In a 1999 survey, the American Savings Education Council found that 15% of students said they understand financial matters very well, 67% said fairly well, and 18% said they do not understand financial matters at all.
The National Foundation for Credit Counseling reports 41 percent of U.S. adults, or more than 92 million people living in America, gave themselves a grade of C, D, or F on their knowledge of personal finance (April 2009).
Financial Preparedness is Essential to Well Being
?The financial preparedness of our nation?s youth is essential to their well-being and of vital importance to our economic future. In light of (current) problems, we are reminded of how critically important it is for individuals to become financially literate at an early age so that they are better prepared to navigate an increasingly complex financial marketplace. Choosing a credit card, saving for retirement or for a child?s education, or buying a home requires more financial savvy than ever. Financial literacy and consumer education?coupled with consumer protection?makes the financial marketplace effective and efficient. Only eight states require personal finance before highschool graduation. I believe more states should consider making personal finance a requirement for all students . . . this is vital to the future of our economy and all its citizens, and I strongly believe that financial literacy must be a high priority . . . ?
~ Ben S. Bernanke, Federal Reserve Board
Reports from the Youth Financial Literacy Program
Manny?s commitment to community, as exampled by this program and other projects, is what is needed to keep us healthy.
Success Unshared is Failure ~ John Paul DeJoria
Mr. DeJoria went from homeless and sleeping in a car to founder of John Paul Mitchell Systems and Patr?n Spirits. His current personal net worth: $4+ billion
Source: http://voteforfernandez.com/VoteForManny/2011/10/05/financial-literacy/
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