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Durham residents with dreams of becoming a homebuyer can take advantage of financial literacy workshops and seminars to help them achieve that dream thanks in part to a national event coming to Durham next week.

Mayor William V. "Bill" Bell is joining mayors from across the country to celebrate Dollar Wi$e Week, September 25-30, 2006, to promote the Mayors' National Dollar Wi$e Campaign: Financial Education for America, established through the United States Conference of Mayors' Council for the New American City.

Bell is using this week to recognize that financial illiteracy is a national problem and to promote financial literacy workshops that are currently available in Durham to help educate residents about personal and household financial literacy. "Becoming financially literate is a long-term process that, for many people, requires assistance from institutions outside the home," Bell said. "By coming together, our community can help consumers make informed choices about their finances."

Bell and the Durham Regional Financial Center, a Durham-based organization that provides professional services for homeownership, financial literacy and debt relief, are committed to providing a variety of personal finance seminars and events throughout the year - many of which are held at Durham's City Hall - to help residents avoid financial scams, learn to manage and save money, reduce credit card dependency and invest in ways that provide assets for their families and their community. Residents interested in registering to attend these workshops should contact Phyllis Johnson with Durham Regional Financial Center at (919) 688-3381.

Durham Affordable Housing Coalition (DAHC) also provides a range of services to low- and moderate-income Durham households through homeownership education workshops and housing counseling. Each workshop consists of three, two-hour sessions and features housing industry representatives presenting on various homebuyer topics such as pre-purchase, home equity and default and delinquency counseling. Residents interested in attending these workshops should contact Terrye Scott or Angella Coleman with DAHC at (919) 683-1185.

"By coming together, we can help our residents make informed choices about their finances. Some of the most important investors in Durham are families and individuals who choose to buy a home within the City, and in order to position themselves as investors, residents must be financially literate and maintain good credit histories," Bell said. "There is no better time than now for Durham citizens to take advantage of programs and activities geared toward financial management and prosperity because improved financial literacy will result in a higher standard of living and more stable communities in Durham."

According to the Mayors' National Dollar Wi$e Campaign, in 2004, over 1.5 million families and individuals filed for bankruptcy. Between 1980 and 2002, the level of personal bankruptcy filings in the nation increased over 535 percent. During that time various states experienced increased bankruptcies that were two and three times the national increase. Credit card debt tripled between 1990 and 2000, growing from $240 billion to $690 billion and is currently approaching $1 trillion.

Other supporters of this year's event include the Durham Money Wi$e Coalition, Durham County Department of Social Services, Consumer Credit Counselors of Durham, Mechanics and Farmers Bank, SunTrust Bank, Mutual Community Savings Bank, Inc., Greater Durham Chamber of Commerce, Durham Technical Community College, Self-Help Credit Union, Internal Revenue Service, Good Work, Inc., the City of Durham, Durham County Cooperative Extension Services, Generations Community Credit Union, Retired and Senior Volunteer Programs, Corporation for Enterprise Development, Volunteer Income Tax Assistance (VITA), Federal Deposit Insurance Corporation, Duke University, Duke University Federal Credit Union, Excellence By Choice, Inc., and the North Carolina State Banking Commission.