San Francisco, Financial Illiteracy is Your Problem Not the 2nd Highest Cost of Living in America
It's easy to forget where I live sometimes.
Gavin Newsom is kind enough to welcome HelloWallet to SF to bless us all with financial literacy because that's our problem surely.
Gavin's office tells us more:
Mayor Gavin Newsom today announced a new partnership with HelloWallet to provide independent financial guidance to the city’s residents. Through this major initiative, San Francisco will become the first city in the nation to deploy this revolutionary online financial guidance and management tool. All San Francisco households will receive a direct invitation to use the service.
“If there is one lesson we can draw from the ruinous foreclosure crisis, it is that we must democratize access to independent financial guidance, something most people do not have access to today,” said Mayor Newsom. “HelloWallet and San Francisco share a common objective: to empower all residents to take control of their finances by providing the very best financial guidance and management tools.”
By being independent from banks, leveraging advanced analytics, and drawing upon proprietary market data, HelloWallet will help put money back in San Franciscans’ pockets by providing personalized guidance at an affordable price for everyone.
The City of San Francisco is joined by a diverse group of leading institutions, including foundations, unions, businesses, and non-profits who will work together over the next year to support this initiative to make affordable, unbiased financial guidance available to San Francisco and California residents. Launch partners include the San Francisco Chamber of Commerce, Pacific Gas & Electric, the San Francisco Public Utilities Commission, EARN, the Laborers union and others. Together, this group will communicate with nearly all San Francisco households in the form of paychecks, utility bills, listserv announcements, and other means.
They'll be spamming you in your bills to encourage you to get your financial shit together, San Francisco. I'm all for financial literacy but if you live here (guilty), you probably don't care much about that or are burning through a trust fund (not guilty).