Why financial literacy is so important? - Addressing the root cause of poverty.

In todays social climate when you take a look at the different issues impoverished communities are faced with such as: crime, homelessness, food scarcity, health care, housing, child care etc. The common denominator of them all comes down to one factor. Lack of financial circulation which stems from the absence of financial literacy in underrepresented communities across the world. These skills go untaught inside of the public schools & missing inside of our families homes as well.

Financial literacy being taught to parents & students in these specific communities educates the understanding of finances and exposure to financial resources (bank programs, higher paying jobs,) gives them the financial stability to produce a higher income for their families which improves their quality of living from the different issues they’re currently facing in their community.

To put it into a perspective a family of 5 in a community where the median household income is around $45,000 in this family of 5 there is a mom and dad along with 3 children who are still in elementary & middle school. On their annual income their choice of housing has to be reasonable and may not necessarily be the best place for living quality, in addition they have to pay for food, clothes, and other essentials. After expenses and bills are paid they have only a few hundred dollars to spare, living in a pay check to pay check cycle. This current circumstance doesn’t allow the parents to build a fund for the kids future & college fund. Causing the kids to be put in a disadvantage for their future and having to find a way for themselves once they get of age. Imagine you’re that kid growing up without, what if you were exposed to resources at an early age and your parents was given the opportunity to create a higher income through financial literacy. Your quality of life changes and your future is set up for success for your family’s generation.

Here at the Sanders Hand we focus to provide FREE business & financial to at risk youth ages 12-21 through our Young Billionaire Club program designed as a 6 week course for students to learn about finances, customer service, business applications while creating their own business. At the end of each camp our students get the chance to present their business in a shark tank simulation with the opportunity to win a scholarship to start their business. The goal is to increase the minority income level while decreasing the poverty level through our program.

To join our program as a community partner or become a donor to support at risk youth please visit our website to learn more and become a part of the change.

www.sandershand.org