Washington State Department of Financial Institutions

News Release

Friday, March 28, 2014

Contact

Jeremy Lushene, Education and Outreach
PH (360) 902-0506 jeremy.lushene@dfi.wa.gov

FOR IMMEDIATE RELEASE:


Jump$tart Washington And DFI Coordinate Money Smart WeekŪ & Reading Days During Financial Capability Month

Seattle City Council President Sally Clark, Bremerton Mayor Patty Lent join community leaders in helping students learn about money, financial workshops scheduled throughout the state

OLYMPIA – The Washington State Department of Financial Institutions (DFI) is pleased to be one of the Jump$tart Washington Coalition’s many partners celebrating April as Financial Capability Month (http://dfi.wa.gov/financial-education/2014-financial-capability-month.pdf) and Money Smart WeekŪ April 5-12.

"As a state agency working toward a more prosperous economy and better quality of life for Washington residents, we understand the need for families to know how to prepare budgets, have emergency savings and to plan for retirement," DFI Director Scott Jarvis said. “Washington’s Money Smart Week events will help residents obtain the tools they need to reach those goals."

Statistics from the "2013 Making the Case for Financial Literacy," a compilation of financial literacy surveys conducted in the U.S. created by the national Jump$tart Coalition for Personal Financial Literacy continue to illustrate the need for personal finance education both in and outside of the home:

"40% of adults gave themselves a grade of C, D, or F on their knowledge of personal finance."
National Foundation for Credit Counseling, seventh annual Financial Literacy Survey of US adults

"In a related survey conducted in April of 2011, 85% of American parents surveyed thought that a course in personal finance should be a high school graduation requirement."
Visa Inc., Mom and Dad ‘MIA’ on Teaching Money Management?, May 24, 2011

Understanding the need for financial education, Governor Jay Inslee proclaimed April 5-12 Money Smart WeekŪ in Washington (http://dfi.wa.gov/financial-education/msw-2014-proclamation.pdf). This will be Washington’s Fifth Annual Money Smart WeekŪ.

“Washington continues to value and promote financial education for all of our citizens - but more is needed,” Jump$tart Washington Coalition President Amy O’Donnell said. “Jump$tart partners are working together to provides Washington residents more opportunity to access financial education and information they need to be more Money Smart.”

Jump$tart Washington is coordinating with partners like DFI and community leaders throughout the state to promote financial education during Money Smart WeekŪ. Representatives from local community groups, financial institutions, not-for-profit organizations, businesses, schools, libraries, government agencies and media outlets will conduct classes, seminars and other activities. In addition to educating consumers about money management and generating awareness of financial education available on a wide range of topics, Washington elementary students will receive financial education lessons during the Fifth Annual Financial Literacy Reading Days. Details on Washington activities can be found by clicking on Washington State at https://chicagofed.org/applications/msw_calendar/public.htm?campaign=14.

Money Smart WeekŪ is a public awareness campaign designed to help consumers better manage their personal finances. This is achieved through the collaboration and coordinated effort of organizations including businesses, financial institutions, schools, libraries, not-for-profits, government agencies and the media. These groups come together once a year to stress the importance of financial literacy, inform consumers about where they can get help and provide free educational seminars and activities throughout the week. Programming is offered to all demographics and income levels and covers all facets of personal finance from establishing a budget to first time home buying to estate planning. Money Smart WeekŪ began in 2002 as a coordinated effort of more than 40 Chicago-area organizations working together to promote personal financial literacy. Washington was the first West Coast state to participate, with its first Money Smart WeekŪ in 2010.

For more information about events slated for Money Smart WeekŪ Washington or to take part, please visit https://chicagofed.org/applications/msw_calendar/public.htm?campaign=14 or contact Jump$tart Washington Coalition President Amy O’Donnell at Amy O’Donnell at aodonnell@wscpa.org or 425-586-1140 or VP Lyn Peters at lyn.peters@dfi.wa.gov or 360-902-8731.

To help promote Money Smart WeekŪ Washington please feel free to use the following social media items:

Tweets

Facebook Posts

Blogs

Financial education partners throughout Washington will be hosting and conducting workshops during Money Smart WeekŪ — and Tweeting, posting on Facebook and blogging about their events. We hope you’ll support them by joining them. Charles Caleb Colton said, “Imitation is the sincerest form of flattery” – and we agree! Sharing details about and linking to great blogs – giving credit where credit is due and a link to the original post to respect copyright, of course – is a great way to spread the word! Here are a few blogs you may wish to link to during Money Smart WeekŪ for financial education information:

Financial Literacy Reading Days

Washington’s community leaders have stepped up once more to show their support for financial education for youth by participating in the fifth annual Financial Literacy Reading Days. To better accommodate schedules, Jump$tart Washington this year expanded Financial Literacy Reading Days to the full month of April - giving community leaders in Washington the chance to step out of their offices and into one of their city’s elementary schools to read a story to children about using money wisely, and encourage saving for the future. It’s a one-hour commitment, to let children know it’s important for Washington families to make wise financial decisions.

*NOTE: Members of the media, please remember to contact the school regarding sending reporters/photographers/camera staff on campus grounds and photo permissions PRIOR to the days’ event(s).

The books selected for the 2014 Money Smart Week Reading Days are “Pigs Will Be Pigs – Fun With Money and Math” by Amy Axelrod and “Alexander Who Used to Be Rich Last Sunday” by Judith Viorst.

For more information about Jump$tart Washington’s 2014 Money Smart Week Reading Days, contact Jump$tart Washington Reading Days Coordinator Lyn Peters at 360-902-8731 or lyn.peters@dfi.wa.gov.


About DFI
www.dfi.wa.gov ▪ 360.902-8700 ▪ 877-746-4334
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders and securities brokers and dealers. The department also works to improve financial education throughout Washington through its outreach programs and online clearinghouse www.dfi.wa.gov/financial-education. In addition to posting information about licensees and administrative actions, DFI uses the Web and social media to provide financial education information: http://www.twitter.com/FinEd4All, www.twitter.com/DFIConsumers, www.finlit.blogspot.com, www.youtube.com/user/WADFI, www.homeownership.wa.gov.

About Jump$tart Washington
www.wajumpstart.orgwajumpstart@gmail.com
Jump$tart Washington is a nonprofit coalition created to promote the need for financial education in Washington State. In 2010, we provided teacher training seminars, special events for students and succeeded in reaching thousands of consumers throughout the state. Our members include individuals, public and private organizations, educators, and non-profit associations – each passionate about making change and advancing our goal to:

Jump$tart Washington Vision Statement: Financial empowerment for Washington residents.

Jump$tart Washington Mission Statement: Jump$tart Washington promotes the development of personal finance skills of Washington residents, with emphasis on education for K-college youth.

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