Promoting Financial Literacy

Here’s a government initiative I like. The City of Richmond’s Treasurer’s Office is holding its first Financial Literacy Fair this Friday. States the press release:

The purpose of this fair is to empower the citizens of Richmond to take more control of their finances and begin the initial steps needed to build personal wealth. The mission of the Richmond City Treasurer’s Office is to inspire, encourage and pursue the high possibilities of potential in others through the elimination of financial barriers by taking “Small Steps for Big Change.” This literacy fair is one step toward big change in the lives of our Richmond residents.

The fair will hold workshops such as Banking 101, Budgeting and Saving, Balling with Budget and Credit. Financial counselors will be onsite.

Bacon’s bottom line: One reason — I’m not saying it’s the main reason, but it’s a contributing factor — that people fall into the poverty trap is that they often make poor financial decisions. The literacy affair addresses a root cause of poverty. Let’s hope it gets great attendance!