April is Financial Literacy Month
States across the nation are pitching in to help consumers identify better financial habits, increase their savings, and plan for retirement.
Financial Literacy Month, occurring each year in April, is an opportunity for financial corporations, nonprofits, and government agencies to promote educational initiatives and resources. The Jumpstart Coalition for Personal Financial Literacy coordinates the work of hundreds of businesses and state and local governments for Financial Literacy Month. CSBS has been a long-standing partner with the Jumpstart Coalition for Personal Financial Literacy.
Several state banking departments are already hard at work promoting financial literacy for their consumers. Here is just a small sampling of states participating in Financial Literacy Month:
District of Columbia
In observance of Financial Literacy Month, District residents can participate in free educational programs, resources and services that promote inclusive prosperity, economic growth and personal financial well-being.
“Many Americans live paycheck to paycheck and worry about not having enough funds to cover daily expenses let alone planning for retirement,” said Commissioner Stephen C. Taylor. “Mayor Bowser and her administration are committed to helping all District residents break the cycle of living paycheck to paycheck by providing the educational tools and strategies for managing household debt and create pathways to the middle class.”
Governor C.L. “Butch” Otter has signed a proclamation establishing April as “Financial Literacy Month” in Idaho, noting that, “The quality of every Idahoan’s life is dramatically affected by how you manage your money. Education is a key to providing Idahoans the tools to achieve a better financial life. I encourage every Idahoan to take advantage of the great free resources available during the month to learn about the wise use of credit, the basics of saving and investing, home ownership preservation, and the pitfalls associated with financial fraud.”
The Idaho Department of Finance, the Idaho Financial Literacy Coalition (IFLC) (www.idahoflc.org) – an affiliate of the Jump$tart Coalition for Personal Financial Literacy – the Idaho Military Financial Alliance, and Idaho Public Libraries have joined together to sponsor “Financial Literacy Month” in April. The IFLC is a partnership of private- and public-sector financial educators. The Department of Finance participates year-round in IFLC efforts and is proud to take part in this opportunity to draw attention to the need for all Idahoans to learn money management skills.
Pennsylvania Governor Tom Wolf declared April as "Financial Capability Month" in Pennsylvania. In his proclamation, Governor Wolf recognized the Pennsylvania Department of Banking and Securities for its work with CSBS to assist thousands of Pennsylvanians each year.
The Department also conducts several consumer outreach events year-round, with emphasis on financial literacy and avoiding common financial scams. For senior citizens, the Department will conduct a "Consumer Fraud Bingo" event, a program to help develop a spending plan, and an in-depth discussion on avoiding scams and identify theft, banking basics, and budgeting. For Students, the Department will conduct a presentation combining lessons on credit reports and scores, banking basics, and creating a spending plan.
The Texas Department of Banking supports Financial Literacy Month, promoting the "$mart Kid" Essay Contest. The “$mart Kid” Essay Contest is aimed at helping students develop knowledge of financial concepts, understand budgets, recognize the importance of financial planning, and become better prepared for future roles as consumers, investors, and employees. In support of Financial Literacy Month, the Financial Fitness Greater Austin (FFGA) “$mart Kid” Essay Contest, presented by Capital One Bank, encourages middle school and high school students in the Greater Austin area to answer this year’s “$mart Kid” question.
The Washington State Department of Financial Institutions is also a partner celebrating April 2018 as Financial Capability Month. Understanding the importance of financial education, Washington Governor Jay Inslee proclaimed April as Financial Capability Month.
This month presents opportunities for partners like DFI, the Treasurer’s Office, Jump$tart Washington Coalition and the Financial Education Public-Private Partnership (FEPPP) to highlight and support the work being done to increase and improve financial education in our state - and assist the many educators and organizations currently providing financial education to Washington residents.
“Helping Washington residents improve their financial skills and capabilities is part of DFI’s core mission,” DFI Director Gloria Papiez said. “When more residents understand how to make sound financial decisions and avoid financial fraud, they can protect themselves — and our state as a whole is stronger.”
Dozens of communities across the state will participate in Money Smart Week Wisconsin April 21-28 with events focused on improving the personal financial awareness and education of Wisconsin citizens.
Money Smart Week Wisconsin is the highlight of April being national Financial Literacy Awareness Month. The Governor’s Council on Financial Literacy, in partnership with the Federal Reserve Bank of Chicago, is spearheading Money Smart Week Wisconsin, the celebration of which was proclaimed by Governor Scott Walker on April 2.