In the Bag
Financial Literacy Program
Generational wealth starts here
ECDO Forever Harlem has been on the for front of creating a new Financial literacy program for Harlem residents of all ages. The goal of this program...
ECDO is a not-for-profit community-based organization that provides human, social, and economic services to Harlem and New Yorkers. We are excited to say that ECDO is developing a new community-based financial literacy program that will run in cycles over a year and cater to New Yorkers of all ages, focusing on young people of color.
As a community-based organization, ECDO recognizes the need to address the intergenerational wealth gap intensely prevalent in low-income neighborhoods. Predatory check cashing stores are still operating on every other corner throughout Harlem. Some of our student participants and their families need to be made aware. Our goal is to provide technical support and educational tools for community members to attain all aspects of understanding the movement of money, and the only way to infuse varied concepts of spending is through a user-friendly curriculum-based financial literacy program.
ECDO is developing a 6-week financial literacy program for New Yorkers and Harlemites of all ages and income levels. Participants will learn about investing in the stock market, saving techniques, and creating a diversified portfolio. The curriculum also includes credit monitoring, budgeting, and assistance in purchasing and selling stock shares. Even more, we will offer every participant a starting investment allowance towards any stock they want; throughout the program, we will track how that dollar moves. Our program's investment is significant because by providing a free stipend in our workshop, participants will build better spending habits, instill confidence in traversing the stock market space, and equip them with the skills to pursue their financial goals with minimal risk or fear of loss in their wallet.