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April 3, 2008 - Several governors declared April as “Financial Literacy Month” encouraging financial education for their citizens throughout the month.
United States’ consumers personal savings have dropped to levels as low as during the Great Depression and debt continues to rise among consumers, especially the younger population.
The Jump$tart Coalition for Personal Financial Literacy reports that 92 percent of college students acquire at least one credit card by their second year in college, yet only 26 percent of people between the ages of 13 and 21 reported that their parents actively taught them how to manage money. It has also been reported that more than 10,000,000 households are “unbanked” and without access to a financial institutions.
Many state agencies continue to promote financial literacy through various initiatives and have announced education and events for Financial Literacy Month. Find below a look at some activities across the states.
California
A California Financial Literacy Summit will be held April 23, 2008 in Sacramento, California. This free event will gather businesses, community groups, nonprofits, financial professionals, educators and others to empower California communities to fight financial illiteracy.
The California Department of Financial Institutions (DFI) partnered with the Center for Student Credit Card Education, Inc. (CSCCE) to offer a free credit card literacy program for California's high school seniors called the ABC’s of Credit Card Finance. In the past four years, more than 1.5 million students, in all fifty states, have participated in the program. More information on California’s financial literacy activities can be found here by visiting the CA DFI’s website.
Idaho
The Idaho Department of Finance, the Kootenai County Financial Literacy Task Force, and the Idaho Financial Literacy Coalition (IFLC), an affiliate of the Jump$tart Coalition for Personal Financial Literacy, have joined together to sponsor “Financial Literacy Month” in Idaho.
The “Your Money Matters” event sponsored by the IFLC will be open to the public and held in Nampa, Idaho on April 18. Workshops will cover: investing, credit and credit scores, home buying tips, long term care, social security and debt elimination. The Department also launched a section of its website focused on financial literacy month that can be found on the Department’s website at finance.idaho.gov.
Pennsylvania
The Pennsylvania Department of Banking’s Office of Financial Education offers “Your Money’s Best Friend,” a commercial-free Web site to help people learn more about financial issues and find information and resources in their local communities. More than 175 community, government and other organizations have listed their financial education programs in the site’s ZIP-searchable directory. Read more about Pennsylvania’s financial literacy initiatives here.
Washington
The Washington Department of Financial Institutions (DFI) hosts a “Money Talks” blog including the latest in financial literacy news, events, and more. In addition, the DFI has created a calendar of state-wide financial literacy events for this month at http://dfi.wa.gov/finlit_calendar/. Find out more about Washington state’s financial literacy events by visiting this site.
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