100 Black Men of Greater Washington, D.C. hosted an MLK financial freedom literacy workshop for 135 middle school and high school students, sponsored by Wells Fargo at the Martin Luther King Jr. Memorial Library on Jan. 18.
The event featured topics on financial goals for the new year, savings plans, money management, creative ways to earn money and more. Speakers included Ben-James Brown, vice president-lead of focus communities and program manager at Wells Fargo, Traci N. Horne, Sr., philanthropy and community impact specialist at Wells Fargo, and James Thompson, president of 100 Black Men of Greater Washington D.C.
“Financial education is vital, but it’s just one ingredient in the recipe for financial success,” Brown said in October 2024 about Wells Fargo’s financial literacy programming. “To truly thrive, individuals need access to opportunities, wealth building resources, and a supportive network that serves as the finishing touch to complete the meal.”
The students received a unique profile detailing their career, income, and family background.
They went through real-life scenarios, managing expenses such as clothing, groceries, college tuition, and transportation within a set budget.
This experience was led by the Wells Fargo’s Hands on Banking interactive experience which is specifically designed to give young adults insights into navigating financial matters and overcoming challenges through thoughtful planning. During this interactive experience, the topics were financial goals for the new year, savings plan, creative ways to earn money, managing money, monthly progress check-ins, and reflection and motivation.
At an October event, Brown noted he hoped such events offer youth, “the foundation for building awareness and habits that will nourish their long-term financial well-being.”
What a great initiative. Financial literacy education should be provided regularly in the community. I love Ramit Sethi’s book, ” I Will Teach You To Be Rich.” It teaches you financial literacy as well as the importance of saving and investing and what one must do to achieve certain financial goals. Agree on the importance of network. As one says, “your network determines your networth.” Everyone needs a supportive team to succeed.