According to TIAA Institute (2019)

African-Americans make up 14 percent and Latinos 19 percent of the U.S. population. Yet financial literacy gaps exist across these demographic group regardless of gender, age, income, or education. There is a strong link between financial literacy and financial well-being among all races of people. Those who are more financially literate are more likely to plan, save for retirement, have non-retirement savings, are better able to manage their debt and less likely to be financially fragile or criminally involved.

Financially fragile is a term used by economists to define as not being able to pull together $2,000 in cash within 30 days. 

Research suggests that African Americans tend to manifest lower financial well-being than others, for a myriad of reasons. Given the correlation between financial literacy and financial well-being, increased financial knowledge can lead to improved financial capability and outcomes.

RTU believes that through proper education, practice and resources, individuals can be better prepared to deal with earning, spending, saving, investing, borrowing, insuring, legacy, understanding risk, and gathering relevant, financial information. As communities that have been marginalized, discriminated against, scammed and denied education in school and work settings, there is little margin for error compared to other groups. We must instill personal responsibility, progression on this critical matter and improve upon one's knowledge to make financially responsible decisions. Understanding that research shows that it is highly beneficial to establish smart fiscal choices that are important to daily life and existence, as early in life as possible!

RTU and its partners have a strategy to began introducing Financial Literacy to children between the ages of 10-14. It is generally believed that children in this age bracket can comprehend basic financial language, especially as they begin to navigate a more independent and practical world.

For older teenagers and budding adults, RTU would like to offer trainings and workshops by our CPA and CFA partners to address financial literacy, smart budgeting and savings, avoiding debt and credit pitfalls, fostering investment opportunities, highlighting career paths, promoting diversity in accounting and finance professions, inspiring financial independence and confidence that the streets cannot offer.  If this is done intentionally, RTU can turn out  generation after generation of well-rounded individuals who are successful personally and contributing positively to their families, community and the broader society.