Over 100 local leaders from banks, schools, and minority communities gathered at the Eagle's Nest Leadership Corporation Tuesday morning to discuss what work can be done to close not just the wealth gap in Erie, but across the nation.

"We want to teach people how to become critical thinkers," said Bishop Dwane Brock, CEO of Eagle's Nest, who wants to teach people to be more financially responsible. "Every aspect of human life, every aspect - black, white, whoever it may be, become a critical thinker, even in the dynamics of the creation of wealth."

"With every new generation that comes about, we have to go back to the beginning and start talking about this thing again. Our kids need to hear this message even in school. For those within the African American community, there has to be more than just entertainment rap and basketball in football, [to lead to] the pathway to wealth."

And Melanie Hetzel-Riggin, a Professor of Psychology at Penn State Behrend, says financial stress can lead to a painful cycle of mental health issues, which in turn leads to more financial burdens.

"A lot of the research in mental health and financial stability has demonstrated that when someone is experiencing high levels of mental health problems, that makes it harder for them to hold on to a job, to pay bills on time, and really struggles with people engaging in things that helps them be financially stable," said Hetzel-Riggins, who also serves as the Director of Behrend's Humanities & Social Sciences Department. "But also, when people have financial instability, that can increase people's anxiety, make them feel a little bit poorer about themselves, and can lead to an increase in mental health distress."

And it goes beyond mental health, it can also affect the academic performance for local students. 

"There's direct correlation between poverty and student achievement, and because of that our students are not coming to school as prepared to learn as students that are in wealthier households," said Erie School District Superintendent Brian Polito. "In order to level the playing field for our students, we need to wrap a number of additional supports around them, student support, and academic supports that help remove those barriers and prepare them to learn."

Polito says state legislation is looking to address the inequity this year, with a proposal on the table aiming to give over $100 million to the school district over the next 7 years.

So what can be done to improve financial management in poverty-stricken areas?

"Get help," says Hetzel-Riggin. "One of the benefits of the Erie community is that it is a resource rich community, and there are a lot of people doing a lot of things to help. All you have to do is reach out and there is a ton of resources, so ask."