It is a pleasure to return to El Diario to bring good news to New Yorkers who are looking to improve their financial situation.
The New York State Department, which I direct, has begun a program of Financial Literacy and we have invested $1.1 million that is intended to help people who seek to learn more about certain elements of finances that allow them to be ready to manage their money in an educated way and according to their needs with a view to a promising future.
The objective of this program is to empower people and their families to better use economic resources to allow them to have financial independence. We know that teaching how to lend money responsibly, how to spend money and how to invest it, makes a big difference in each person’s life.
When there is financial education in our communities, it creates a domino effect that helps create better communities. There are more resilient neighborhoods, a better workforce, there is less food insecurity, less crime, fewer bankruptcies and more confidence to invest and participate optimistically in our state’s economy. That is the governor’s goal. Kathy Hochul to create a stronger New York.
This program works through 11 community organizations in six regions of the state. Each of these organizations will receive $100,000 to help the communities they serve. For example, in New York City, we have three organizations that have already begun their work with the community, such as Ariva, in the Bronx; Bronxwork, also in the Bronx and Qualitas in Manhattan.
These organizations offer financial literacy resources and individualized services. One of the basic points is to learn how to create a daily, weekly or monthly budget and learn to work directly with the financial institutions that help manage the personal budget.
For example, many New Yorkers dream of buying their home. That step requires being financially prepared, including having savings for a down payment, having a bank mortgage approved, having good credit, and having the resources to financially support the property. This economic decision includes opening bank accounts and having a relationship with financial institutions that allows them to take advantage of future actions, including having a good credit report, which is a basic element in good financial health.
For those people who are thinking about opening their own business, this financial literacy is key as it offers guidance and training to teach them how to invest in an intelligent and safe way to open or expand a business. Knowledge is power and knowing about finances helps to avoid fraud and overcome difficulties with greater security.
The program operates in six regions of New York State: The Capital Region, West Buffalo Region, Mohawk Valley, Downstate, and the Finger Lakes area. The Program also offers services for those who have limitations with the English language. There are bilingual staff in several languages to help anyone who needs it. Classes are free and are designed to help people with financial limitations or who fall below 200 percent of the federal government’s income guidelines.
The New York State Department offers you alternatives for progress since our motto is “Opportunities Start Here” and my mission is to create a New York with progress and an economic future that benefits all residents.
Robert Rodríguez is the Secretary of State of New York
2024-02-22 18:47:07
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