A Pennsylvania State official visiting Johnstown for a special meeting Tonight.
Reporter Baylee Wojcik was there and tells us what he wants residents to know.
The Commission On Poverty in Johnstown held a meeting with Pennsylvania State Auditor General Timothy Defoor Tuesday Evening. He says he wants residents to understand the importance of financial literacy.
Pennsylvania Auditor General Timothy Defoor was in Johnstown Tuesday Evening to meet with dozens of community leaders. He says in his work to eliminate poverty across the state, he’s found one important solution.
“Financial literacy and poverty; there’s a correlation between the two. To get out of poverty and to stop the downward spiral that we see in some of our families, financial literacy in my opinion is the key.”
Defoor says he was invited to Johnstown by the local Commission On Poverty. Meeting attendees ranged from Pennsylvania State Senate employees to local organization heads.
Defoor says he’s not seeing initiatives like this in any other city.
“When I come to places like Johnstown, it makes me feel happy and it makes me feel proud that there are community leaders out here willing to listen to what I have to say.”
Each of the speakers at the meeting stressed the importance of financial literacy and education. Defoor says his be money smart grassroots program is looking to promote financial literacy across the state.
He says these initiatives can make a big difference for people who are economically vulnerable.
“It’s bringing awareness to financial literacy, especially from students in kindergarten through 12th grade because you teach financial literacy, get them at a young age, by the time those kids graduate from high school, they’re going to be a smarter consumer.”
Defoor says that Pennsylvania has recently become the 25th state to require high school seniors to take a financial literacy course in order to graduate.
While he says that early education is key to putting an end to poverty, Defoor stresses that financial literacy can start at any age.
“The bottom line is, you’re never too young, you’re never too old to learn about financial literacy. The bottom line is understanding financial literacy, understanding what it is to save for emergencies, understanding your credit, understanding what you need to buy a house, to buy a car. When you do that, another thing you’re also doing is giving back to your local economy.”
Visit Paauditor.gov to learn more about financial literacy tools