Increasing financial literacy can lead to improving money management.
Prominent leaders who hail from the business, sports and entertainment industries recently committed to advancing the Financial Literacy for All movement, through their organizations, according to a press release.
Financial Literacy for All is a movement led by prominent leaders who seek to improve the financial literacy of Americans. Per Financial Literacy for All’s website, leaders made “a 10-year commitment to reach millions of youth and working adults, providing them with the necessary tools and life experience to become confident in making
financial decisions that unlock greater well-being for themselves, their families, and their communities in general.”The focus of the movement will partially entail making financial literacy easier to understand, and raising financial literacy awareness for students, young adults, and working adults. Walmart’s CEO, Doug McMillion, and John Hope Bryant are co-chairing the 10-year commitment which is intended to reach the demographic, per the announcement.
Bryant is the founder and CEO of the nonprofit, Operation HOPE. It provides financial empowerment programs and economic education for “low-income or moderate-income youth, individuals and families in underserved communities,” according to LinkedIn.
“I believe we are sitting in a moment in history right now, but history does not necessarily feel historic when you are sitting in it. It just feels like another day. What we do now can make all the difference, and we consider financial literacy to be social justice through an economic lens,” Bryant said in the announcement.
“Mastercard, BlackRock, TIME for Kids, Nextdoor, FICO, U.S. Bank, Truist, First Horizon Bank and Santander” and others “joined founding members Walmart, Disney, NFL, NBA, Delta Air Lines, Walgreens, Bank of America, Khan Academy and Ares Management as part of this first-of-its-kind coalition,” according to additional details.
Reggie Jackson — who is a baseball Hall of Famer — is serving as a celebrity ambassador.
The initiative’s first challenge grants were provided by David Riley — who is an investor and philanthropist – in addition to his wife, Nextdoor CEO Sarah Friar. According to a press release, they provided a “150,000 challenge grant from their family foundation, with the goal to spur other leaders from tech and finance to take similar action.”
Friar is also on Operation Hope’s Global Board of Advisors.
“Operation HOPE is driving important changes within our neighborhoods and empowering entrepreneurs at the local level,” Ms. Friar said in another announcement. “I am impressed by how John and his team are committed to building community and look forward to working alongside this great group of advisers to help more small businesses thrive.”
Click here to learn more about Financial Literacy for All.