News Summary
The ‘Money Matters for Youth’ program in Detroit is facing a significant fundraising hurdle as it strives to raise $20,000 for an educational trip to Washington D.C. Founded by Gail Perry-Mason, this initiative aims to foster financial literacy among local students aged 8 to 18. The program has been operating for nearly 30 years but is now seeking community support due to the withdrawal of a key sponsorship. This trip is crucial for students to engage in civic dialogue and advocacy.
Detroit – The “Money Matters for Youth” program, aimed at instilling financial literacy in local students aged 8 to 18, is currently facing a fundraising challenge for an educational trip to Washington D.C. The program, which has been guiding Detroit youth for nearly 30 years under the leadership of Gail Perry-Mason, aims to bridge wealth gaps in a city known for its economic struggles. With a necessity to raise $20,000 out of a total cost of $30,000 for the trip, the program is seeking support following the withdrawal of a key sponsorship.
Founded by Perry-Mason, the “Money Matters for Youth” initiative has become a cornerstone of financial education in Detroit. Each year, it hosts a five-day camp that covers essential topics such as capital growth, sustainable wealth, and navigating complex economic systems. Perry-Mason emphasizes the importance of identity, community, and confidence, aiming to empower Black youth through financial education. The program not only imparts essential financial skills but also addresses the cultural aspects of wealth building, stressing that understanding financial power is synonymous with cultural power.
This summer, the program awarded scholarships totaling $25,000 to 25 local teens, providing each with a One Detroit Collegiate Checking account. These accounts are tailored for young adults pursuing higher education, featuring no minimum balance and tools for building credit. The initiative has garnered support from One Detroit Credit Union and the Federal Home Loan Bank of Indianapolis.
Participants in the program benefit from a well-rounded curriculum that includes lessons in business ideas, etiquette, financial planning, and the importance of multiple income streams. Many alumni have gone on to become successful entrepreneurs, including CEOs and venture capitalists, illustrating the program’s impact on participants’ futures.
The upcoming Washington D.C. trip is particularly vital as it presents students with a unique opportunity to meet national leaders. This experience enables them to engage in lobbying efforts on issues that directly affect their communities and advocate for necessary changes. Unfortunately, the loss of a major sponsor has put this essential trip in jeopardy, highlighting the program’s reliance on community support and fundraising efforts.
To mitigate this setback, the students involved in the program are organizing a fundraiser, actively seeking community donations to reach the $20,000 goal necessary to ensure their trip takes place. Perry-Mason has called on the Detroit community for support, comparing financial contributions to deposits of opportunity for the youth’s success. Engaging with lawmakers could not only enhance students’ understanding of civic engagement but also empower them with firsthand insights into the legislative process.
The “Money Matters for Youth” program is more than just a financial literacy initiative; it represents a holistic approach to life skills. Students receive education in various areas, including cooking, public speaking, and even golf lessons, equipping them with practical tools for personal growth and maturity. As they prepare for future success, participants consistently express gratitude for the invaluable knowledge they have gained.
With the backing of the community, the program aims to continue its mission of educating and empowering Detroit’s youth, enabling them to cultivate their potential and become advocates for change in their city. Without the financial support needed, the opportunity for students to visit Washington D.C. and participate in meaningful dialogue with national leaders hangs in the balance, raising urgent questions about the future of such essential educational initiatives in Detroit.
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Additional Resources
- WXYZ: Detroit Youth Financial Literacy Program Seeks Community Support
- Wikipedia: Financial Literacy
- Fox 2 Detroit: Money Matters Program Needs Help
- Google Search: Financial Education Programs Detroit
- Detroit Chamber: Bank of America Mobile Financial Center
- Encyclopedia Britannica: Education
- WJR: Junior Achievement of Southeastern Michigan
- Google News: Financial Literacy in Detroit
