Financial literacy isn’t just a buzzword — it’s a crucial stepping stone toward economic independence and stability, especially for women of color and area youth.
The fight for financial equity in New Orleans has birthed several initiatives aimed at equipping women and young people with the financial acumen they need to thrive.
Playing to Win
Chris Surprenant, professor and director of the Urban Entrepreneurship & Policy Institute at the University of New Orleans, recognized the need for financial literacy in youth a few years ago, so he helped launch a financial education program for high school students.
“This is a class about being smart with money and understanding the value of money, how to earn it, how to keep it, how to grow it and how to protect it,” he explained.
Over the course of a semester, students started a real business from scratch. First, they spent a few weeks looking for opportunities and identifying their own skills to come up with a business idea. Then they went through the process of starting and operating that business, learning everything from budgeting to reading income statements, understanding loans and investing.
As the program was getting started, it caught the attention of former New Orleans Saints wide receiver Marques Colston and fullback Jed Collins.
Colston had previously taught a class on leadership and entrepreneurship at UNO. Surprenant was having lunch with Colston when they came up with this idea.
“We both thought it was really important for these kids to come out of high school with relevant knowledge and skills, and we thought we had the knowledge and resources to help make that happen,” Surprenant said.
UNO teamed up with Colston’s Dollars to Dreams program and Collins’ Money Vehicle curriculum to teach financial literacy to high school students.
“A lot of my work with students is anchored in making entrepreneurship a more accessible and viable option. This program takes a similar approach to personal finance,” Colston said. “It aims to provide an educational experience that aligns a tailored curriculum with resources to help students gain a better understanding of their current financial realities.”
Colston said the program’s goal is to provide a financial education experience that students can apply immediately.
“Finance is a core factor in most of the decisions we make,” Colston said. “But many young people today are making important personal and professional decisions that have financial ramifications they might not understand until it’s too late.”
Taking Flyte
Financial literacy is more than just understanding how to balance a checkbook or invest in stocks — it’s about empowerment and equity. Flyte, a New Orleans-based nonprofit, takes a holistic approach. Founded by Alexander Bigbie, Flyte focuses on empowering Black women-owned businesses and addressing systemic financial inequities.
“Our program runs 12 months, starting in June each year, and currently serves 100 small-business owners across Louisiana, mostly concentrated around New Orleans and Southeastern Parishes,” said Bigbie. “We focus on three main areas: mentorship, education and access to resources.”
Flyte’s program is largely virtual, ensuring accessibility for business owners who juggle jobs and family responsibilities. With a curriculum covering topics like credit building, budgeting and financial planning, Flyte also emphasizes “the emotions of finance,” in partnership with The Brightside Collective, a local therapy group.
“Black women have the highest rate of business creation but also the highest rate of business failure,” said Bigbie. “We aim to break those barriers down and ensure their finances and businesses can thrive in the long term.”
Women Helping Women
Similarly, the Junior League of New Orleans (JLNO) has been instrumental in promoting financial literacy for women since launching their program in 2017. Tara Waldron, president of JLNO, highlighted the program’s objectives: “We developed a curriculum which focuses on five key financial topics: banking, borrowing, budgeting, saving and investing.”
JLNO’s sessions are open to the public, targeting a diverse group of women. The initiative was inspired by the gender gap in financial literacy and the significant impact that financial education can have on women’s lives.
“Studies show that when women have money and invest, they tend to be better investors and money managers than men,” Waldron said. “We just need to give them the information to do so.”
JLNO partners with high schools, Girl Scouts, and banks like Capital One and Hancock Whitney to extend their reach. They ensure accessibility by offering sessions free of charge, welcoming collaborations with other nonprofits to benefit more women.
“Our sessions are free of charge,” said Waldron, “and open to all women interested in learning more about managing their finances.”
Drew Hawkins is a writer and journalist in New Orleans. He’s the health equity reporter in the Gulf States Newsroom, a collaboration among public radio stations in Louisiana (WWNO and WRKF), Alabama (WBHM) and Mississippi (MPB-Mississippi Public Broadcasting) and NPR. He’s also the producer and host of Micro, a LitHub podcast for short but powerful writing.
