Learning about finances
Regarding “Employers can upgrade financial literacy” (B1, Wednesday), Chris Tomlinson’s business column provides critical advice that should be taken even further. At a time when both companies and workers are facing major changes to federal laws affecting finances, employees need assistance planning everything from health care to tax deductions, including learning the difference between renting, owning and managing rental property.
A key factor in economic class between the rich and poor is knowledge of property and business ownership and the tax deductions used by owners to become independently wealthy. Workers with access to conflict resolution management or collective bargaining also have advantages over employees who don’t have this support at the workplace.
Especially in cities such as Houston seeking billions in federal disaster relief for individuals and businesses, the needs of the population clearly demand localized access to information and hands-on mentorship.
Tomlinson is right on target that companies are the best place to provide oneon-one assistance to workers, not just for basic financial literacy, but for long-term planning necessary for sustainable economic development.
Emily T. Nghiem, Houston