Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Financial Literacy and Education Commission Launches Enhanced Web Site for Financial Literacy

Posted by Hopeton on April 30, 2010

The U.S. Financial Literacy and Education Commission (FLEC) announced the launch of its redesigned financial literacy education website, www.MyMoney.gov. The new site has enhanced interactive features and utility to provide more resources to Americans seeking information that can inform their personal financial decisions.  President Obama recently proclaimed April to be National Financial Literacy Month, and this enhanced online offering is just one of the many steps the Administration is taking to expand financial education and access for the future.

“As America recovers from the most severe financial crisis since the Great Depression, it’s critical that we strengthen every aspect of our financial system. That means not only strong reforms and consumer protections, but also improved financial literacy and access,” said Treasury Deputy Secretary Neal Wolin. “Financial education and access is a priority for this Administration, and we’re pleased to provide this critical resource to help Americans find free, reliable and unbiased information that can help inform their daily financial decisions and plan for the future.”

The new MyMoney.gov creates an online point of access to financial information from the 21 Federal agencies, departments and bureaus that comprise the FLEC.   Users will be able to find information about how to plan for a host of life events that have financial implications, such as birth or adoption of a child, home ownership, or retirement. They can also find information targeted to their personal or professional situation. For instance, the site includes resources for teachers, service members, women, parents, youth, employers, and more.  The site also provides money management tools including a financial savings calculator, worksheets for establishing a household budget and a college preparation checklist, among others.  The site is also available in Spanish. The effort to make the website as helpful and useful to Americans will be ongoing, with improvements expected to continue.

The web site was made possible by the Financial Literacy and Education Commission, which was established under the Fair and Accurate Credit Transactions Act of 2003. The Commission was tasked to develop a national financial education web site along with a hotline (1-888-My Money) and a national strategy on financial education. It is chaired by the Secretary of the Treasury and made up of the heads of 20 additional federal agencies.  The Commission is coordinated by the Department of the Treasury’s Office of Financial Education.

For details, go to www.MyMoney.gov

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One Response to “Financial Literacy and Education Commission Launches Enhanced Web Site for Financial Literacy”

  1. Financial literacy is a misnomer. And anyone thinking they can gain it from a government website should think again! A few weeks back, I had a conversation with a former principal of the World Bank. I’ve blogged my thoughts on the conversation at WordPress (4freeworld.wordpress.com, see entry on April 22nd 2010). The key message for me is that even bankers may lack essential financial street smarts. Without an integrated knowledge of economics, banking and the monetary system, you’d never recognise the pernicious economic fraud nested in our global monetary system. But economics needn’t be a turnoff. On the contrary, when explained properly, it is simply child’s play!

    Respectfully,

    Freethinker

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