This is Clarksdale, Mississippi, also known as the “Birthplace of the Blues,” a place where renowned artists, musicians and writers call their home and inspiration. Despite the vibrant culture, approximately half of Clarksdale households live outside the financial mainstream*, meaning they don’t have a bank account to manage their money and instead often rely on alternative financial services, such as check cashers or payday lenders.
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Watch this video and visit www.SpentMovie.com to learn more about Clarksdale’s rich culture, financial struggles, and unwavering perseverance.
In Fall 2014, American Express launched Clarksdale Dollars & Sense, a three year pilot program that aims to help improve financial literacy amongst students and their families in Clarksdale, Mississippi. Working with Moneythink and EveryoneOn, the program will provide eligible Clarksdale High School students with home Internet access, a financial mentorship program, and mobile phone-based learning about budgeting, saving and money management.
Throughout the program, Glass Frog, an independent research firm will measure the results of Clarksdale Dollars and Sense over time so we can understand the impact of this program and use it as a blueprint for how to help other underserved communities.
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*Source: 2009 FDIC National Survey of Unbanked and Underbanked Households
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Clarksdale: Looking For Change