Hosted by After-School All-Stars, JPMorgan Chase, and P.S. 145 on Friday February 27th, 45 parents and 75 students took part in the first Family Financial Literacy Night at P.S. 145.
JPMorgan Chase volunteers facilitated a “Borrowing Basics” workshop for parents and a “Money Smart” workshop for students where students explored the distinction between a WANT and a NEED. The event culminated with student presentations, a family dinner and the distribution of school uniforms donated from funds raised by JP Morgan Chase.
Elisaida Poueriet, Executive Director of JPMorgan Chase provided her insight on the program: “It is evident that the members of our communities appreciate the opportunity to elevate their knowledge and understanding for Credit, process for buying a home, budgeting and other important topics that every family should focus on to manage their finances. What was great about the workshops at PS 145 is that it addressed both the parents and their children. It’s never too early to start on these concepts and it was great to see how engaged the children were as well. Thanks again to Dr. Garcia at PS 145 and the After-School All-Stars program for partnering with JPMorgan on this wonderful event.”
This Family Financial Literacy Night was a fun and impactful night for parents, who, by and large, expressed their interest in attending future workshops. According to a recent Consumer Financial Literacy survey conducted in 2012, just 59% of adult respondents had savings, while approximately one in four continued to spend outside of their means.
It is imperative to start the conversation around saving at a young age. After-School All-Stars strives to create a healthy environment for our students to be successful in and outside of the classroom, as well as provide parents with the tools to continue the conversation around financial literacy and education at home.