Financial Literacy: Laying the Foundation for a Secure Financial Future
Getting Money Smart in the Mid South
In order to grow savings, acquire assets and build wealth, people must have a solid foundation of financial education. In Arkansas, Louisiana and Mississippi, lack of access to financial information and training is large barrier for individuals and communities alike. The Foundation for the Mid South is working to find solutions to this problem by educating people about the importance of financial literacy and how to make better money decisions.
Of the approximately 10 million people in the Mid South:
Only 36% have a financial “safety net” – a cash reserve that can cover three months’ worth of living expenses (based on 2012 data from the Financial Industry Regulatory Authority Foundation America)
81% graduate from high school and 20% live in poverty (according to the U.S. Census Bureau)
Many Mid South residents are making poor financial choices due to lack of education, and those habits are passed on from generation to generation. Financial literacy is key to making long-term, positive change in communities. 

Kimberly McMillan, wealth building program officer, and Vickie Wells, finance assistant, gave out 300+ Financial First Aid Tool Kit packets and thumb drives
at the National Income Tax Credit Awareness Day & Keep The Change Fair !
Financial Education at Mississippi Valley State University
In honor of National Financial Literacy Month, the Foundation for the Mid South partnered with the Federal Reserve Bank of St. Louis, Memphis Branch to organize a special financial training event. We hosted the event on April 17 at Mississippi Valley State University in Itta Bena, and it was free and open to the public.
We arranged for financial experts to give presentations on topics including:   
The Importance of Financial Literacy
Budgeting, Savings and Credit
Payday Lending
Identity Theft Scams
Financial Education Resources and Programs
Approximately 100 participants – mostly students – attended the event and received valuable information and resources to help them make good financial decisions now and in the future. The students were especially excited to listen to a presentation from Carl Snell of LPL Financial, who discussed how to become a millionaire.
Each participant took home a copy of the Foundation’s Financial First Aid Toolkit on a jump drive, which contains valuable educational resources. The Foundation also made $750 donations to the Mississippi Valley State University student organizations that had the most members in attendance and gave away gift cards with a total value of $250 during the event.
Moving Forward in Finances
Financial literacy is important for all people , no matter what their demographic or economic status. When families possess the tools and knowledge to manage their finances well, they can begin to grow their savings, maximize their incomes and acquire more assets.
The Foundation for the Mid South looks forward to organizing more financial literacy events with colleges and universities in the region.