“Let’s Talk Mi Money” is Highland Park’s free-to-attend block party-style event, sponsored by the Michigan Department of Treasury through its Mi Money Matters financial literacy campaign. The goal is to help people of all ages achieve financial independence and self-sufficiency.
At the event, attendees will receive free tools that will help the metro Detroit households where more than 40% of metro Detroit households with annual incomes under $125,000 who aren’t confident in their ability to create a debt paydown plan.
More than 35% of metro Detroiters struggle to create a monthly budget while 47% find saving money difficult.
Five of Michigan’s 10 most “unbanked” cities — Detroit, Highland Park, Pontiac, Ecorse and Inkster — are in metro Detroit, with Detroit reporting that roughly a quarter of residents are unbanked or underbanked. Unbanked refers to adults who do not use or do not have access to any traditional financial services, including savings accounts, credit cards or personal checks.
Not having access to financial resources and tools costs unbanked and underbanked Michiganders an average of $3,000 a year in fees for check cashing, money orders, bill pay services, third-party debit cards and more.
Partners of the “Let’s Talk Mi Money” community forum in Highland Park include a diverse array of faith leaders across Metro Detroit, as well as:
Mi Money Matters, Michigan Department of Lifelong Education, Advancement, and Potential (MiLEAP), Michigan First Credit Union, Michigan Education Trust (MET), Junior Achievement of Southeastern Michigan, Michigan State Housing Development Authority (MSHDA), First Independence Bank of Detroit, Lake Michigan Credit Union, Center for Working Families, RX Kids, and Bank of America.
The Michigan Treasury Department has teamed with the philanthropic Ballmer Group and leaders across Wayne, Oakland and Macomb counties to roll out these types of community attractions as part of the Mi Money Matters Financial Empowerment Initiative.
The Ballmer Group is supporting the campaign with a $1.5 million grant. Ballmer Group, a philanthropic organization founded in 2015 by Connie and Steve Ballmer, is focused on improving economic mobility for children and families in the United States and invests deeply in three core regions: Washington State, Los Angeles County and Southeast Michigan.
If you’re looking for a free, fun and family-friendly way to spend your Saturday (Aug. 15) while getting a free meal and a free chance to build toward your financial freedom, then Avalon Village in Highland Park is the place you want to be. The atmosphere will feature a “block party” feel with live music, free food from Khalifa’s Mobile Kitchen and Taste of Motown, grocery gift cards, free sports tickets, and two $500 Visa gift card grand prizes.
