‘Power”s Michael Rainey Jr. Shows Young People How To Achieve Financial Literacy
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Michael Rainey, Jr. plays a bad guy on TV. As Tariq St. Patrick, he’s been part of the Power universe on Starz since he was a teenager, most recently in Power Book II: Ghost. But in real life, the Staten Island, New York native is giving back. In partnership with the Restoring American Recovery Education Foundation and Equifax, Rainey headed to a high school in his hometown to promote financial literacy.
The ‘Educate a Student.Protect Yourself’ initiative gives students the tools to protect their identities from being stolen as well as making sure they have some knowledge to pursue their various dreams. The $2.4M program comes with a twelve-hour financial curriculum, a free year of Equifax Complete Premier so they can keep track of their credit, and two books, The Power of Credit and Who Stole My Identity? written by 17-year-old financial whiz kid, Preston “Kid Kredit” Luzunaris, who also spoke at the event. It’s a donor-based program where those who are able to can sponsor a student participating in the program.
“At The R.A.R.E. Foundation…we are dedicated to giving every individual the opportunity to recover, improve, and thrive financially,” their website says. “Our mission is rooted in the belief that everyone, regardless of their past or current circumstances, deserves a respectable chance to achieve financial stability and success.”
Rainey addressed the senior class at Port Richmond High School late last month. He was there along with his partners, including DMX’s ex-wife Tashera Simmons, who is involved in it as well. In the initiative, donors who sponsor a student will then also receive the financial curriculum course and credit protection and monitoring via Equifax.
“If I was these kids coming from this exact room…,” Rainey Jr. told students, “The first thing I would do is go home and ask my parents what their credit score is. And then, as time goes on, you become an authorized user on their [credit card] and start building your own [score].”
It’s good advice. Per multiple financial sites and gurus, being an authorized user on a credit card can help young people build credit if they are responsible about how they use it. Ultimately the idea is to graduate from being on their parent’s account to getting one of their own.
“Michael understands firsthand the importance of financial literacy, and now, he’s using his platform to give back to his hometown of Staten Island and beyond,” the R.A.R.E. Foundation says.
They vow to help 250,000 kids achieve financial literacy through the program.
