By Dave Gatton
October 17, 2011

U.S. Conference of Mayors Vice President Philadelphia Mayor Michael A. Nutter kicked off Philadelphia Financial Planning Day, October 1, by inviting hundreds of attending Philadelphians to take advantage of the one-on-one financial counseling made possible by the event. Nutter was joined by Tracy Davidson, Anchor and Consumer Watch Reporter of NBC 10 News in Philadelphia; and Mark Rioboli, President of the Financial Planning Association of Philadelphia and the Tri'state Area, in welcoming a strong turn out of attendees from the general public.

Nutter also thanked the over 50 certified financial counselors who volunteered their services during the day. Throughout the day, the financial planners worked with attendees one-on-one to review and answer financial questions ranging from budgeting, credit repair, buying a home, investment strategies, and retirement planning. Counselors were seated at individual tables and attendees were directed to planners specializing in particular financial areas. The pro-bono planners are prohibited from any form of marketing of services or follow-up with attendees.

In addition to the individualized financial counseling, workshops were held on Taking Control of Your Credit; Real World Retirement Planning; Planning for the Cost of Higher Education; Budgeting 101—Life’s Balancing Act; Eldercare—All about Aging in Philadelphia; Investing Basics—Be a Smart Investor; and Mortgage Foreclosure—Understanding Your Rights.

One of the more popular sessions involved understanding how one’s credit score is calculated and how certain actions, such as canceling a credit card, or opening additional credit card accounts to take advantage of price reductions, can affect your credit score.

Speaking in the Ben Franklin High School Auditorium, Nutter thanked both the volunteers for their service and the participants for taking responsibility in becoming more financially literate.

Financial Planning Days is a joint effort of The U.S. Conference of Mayors, the Foundation for Financial Planning, the Financial Planning Association and the Certified Financial Planning Board. Over 31 Financial Planning Days will be held in major U.S. cities during the month of October.