By Frank Stabile, USCM Intern
September 12, 2005

Miami held two events in July as part of its ongoing Dollar Wi$e campaign, a Conference of Mayors program designed to promote financial literacy education. Miami Mayor Manny Diaz spoke July 11 to over 70 educators about the importance of promoting financial literacy education among students.

A second event was held July 27 to train residents how to hold seminars on mortgages and the home buying process for members of their communities. These two events are part of the city of Miami's ongoing participation in The United States Conference of Mayors National Dollar Wi$e Campaign to promote financial literacy education among residents and to help them learn to make better-informed financial decisions.

The Personal Finance: What Kids Want to Know seminar on July 11 taught educators from throughout Miami-Dade and Broward counties how to include financial literacy education as part of their curriculum. By attending the seminar, the teachers have demonstrated a commitment to include courses on financial literacy in their classrooms. The event was held by Miami and the Florida Jump $tart Coalition, a non-profit organization that promotes financial literacy, especially among youth and young adults. The McGraw-Hill Companies sponsored the event and Colonial Bank NA provided the necessary educational materials.

"Many of the monetary problems countless consumers are plagued with could be avoided with education. By instructing kids early how to wisely spend their money and protecting their credit we can save them from financial problems later on in life," said Diaz.

The second event, titled Consumer Homebuyer Train the Trainer Workshop, was held July 27. This event encouraged residents to become more proactive in addressing the financial literacy needs of their local communities. Residents received training on how to teach others in their communities about mortgages and the home buying process. Those in attendance included members of the community and representatives from faith-based organizations, homeowners associations, Volunteers in Service to America (VISTA), and the Bilingual Parent Outreach Program. Those who completed the program became certified as an Access Miami Trainer and were encouraged to hold home buying seminars in their community. Participants who teach at least three home seminars will be entered into a drawing for a new computer. Two additional events will be held later in the year. The event was sponsored by the Mortgage Banker's Association (MBA), which represents the real estate finance industry. Campus MBA, their educational arm supplied the curriculum for the event.

These two financial literacy events have enabled Miami to create a pool of teachers and educators who can instruct their students on making informed financial decisions and residents who can teach others in their communities about home mortgages and the home buying process.

Dollar Wi$e is the official financial literacy campaign of the Conference of Mayors. Participating mayors are encouraged to work with businesses and non-profit organizations in their cities to address the financial literacy needs of their community. Fifty-three cities, including Miami, have joined the campaign thus far.

To join the Mayors' National Dollar Wi$e Campaign, or to learn more about it, please visit www.dollarwiseonline.org.