In The News Click on the links below to view our most recent news appearances. 1/16/09 The FDIC Publishes Money Tips for All Ages and Different Stages of Life   There is a site assiciated with this Item. Click here to visit the site.   The Spring 2008 issue of FDIC Consumer News is a special edition entitled "Money Tips for All Ages: Your Finances at Different Stages of Life." It features practical suggestions for everyone plus special recommendations for teens through retirees. The FDIC encourages financial institutions, financial educators and other interested parties to make the information in FDIC Consumer News widely available, including reprinting or linking to the material and making copies with their name, logo, a special message and/or self-mailing information. Financial educators can use FDIC Consumer News as a resource for useful consumer information. Educators and their students can sign up for a free subscription and see current and back issues online.   1/16/09 Twelve tips for funding that college education   There is a file assiciated with this Item. Click here to view the file. AccountingWEB.com   Parents who are looking down the road at college costs for their children may be overwhelmed. Here are twelve tips that might help you figure out how to pay for your child's education.   1/16/09 Morningstar ranks the best and worst 529 plans this year   There is a file assiciated with this Item. Click here to view the file. AccountingWEB.com   Morningstar, the global investment research firm has published its annual list of the best and worst 529 plans  when it comes to earning long-term returns for college savers  and the overall opinion smacks of optimism. Some of the worst plans from years past have folded up and gone away, while others continually strive to improve.   1/5/09 CFO Sink offers money-saving New Year's resolutions for Florida families   There is a file assiciated with this Item. Click here to view the file. Florida Department of Financial Services   The New Year is just around the corner, and while 2008 will be a year to remember for financial crises large and small, Florida Chief Financial Officer Alex Sink and Floridas Department of Financial Services are encouraging Floridians to take stock of their personal financial situations and make resolutions that will make 2009 a happy and prosperous new year.   1/5/09 Credit Card Companies Slash Credit Limits   There is a site assiciated with this Item. Click here to visit the site. The Wall Street Journal   As if access to credit wasn't already tight, credit card companies are slashing consumer credit lines and closing inactive cards - a move that could harm borrowers' credit scores and restrict access to loans.   12/29/08 Tips to Managing Your Money in Challenging Times   There is a file assiciated with this Item. Click here to view the file. President's Adivisory Council on Financial Literacy   We believe that the current economic crisis underscores the need to increase financial literacy among all Americans. The President formed this Advisory Council for expressly that purpose. We are committed to increasing awareness of the tools and resources that are available to all Americans to help them better understand and manage their finances. We encourage all Americans to review the tips below and take advantage of the links to useful information that will help improve their understanding of their financial situation. In these times of uncertainty, the need to be financially literate has never been more important.   12/18/08 Government Cracks Down on Unfair Credit Card Practices   There is a site assiciated with this Item. Click here to visit the site. The Washington Post   The federal government today approved new rules that would ban certain financial institutions from engaging in unfair credit card practices.   12/3/08 College May Become Unaffordable for Most in U.S.   There is a file assiciated with this Item. Click here to view the file.   The rising cost of college  even before the recession  threatens to put higher education out of reach for most Americans, according to the annual report from the National Center for Public Policy and Higher Education.   11/5/08 Lake Mary High School Event with the FED: Hosted by Colonial Bank, sponsored by Florida Jump$tart Coalition and in partnership with Junior Achievement   Over 120 students and parents were in attendance with local school and district leaders. A Lake Mary teacher wanted to create an evening for her AP Economics students in twelfth grade, similar to that presented by the FED to educators. The topic was the current economic condition, how the money supply and other factors may have contributed to the state of the economy and discuss the impact on personal financial money matters. Students were provided a pre and post closing questionnaires before and after the event. There was a Q&A session at the end of the presentation by the Federal Reserve of Atlanta where students actively engaged in discussion with finance professions from the local community.   9/14/08 Saving for college with 529 plans   There is a file assiciated with this Item. Click here to view the file. AccountingWEB.com   529 plan is a special kind of investment account designed for college saving. Money grows in the account tax-deferred, and the earnings become tax-free if withdrawn and used for college expenditures.   9/14/08 529 College Savings Plans remain a mystery to most parents   There is a file assiciated with this Item. Click here to view the file. AccountingWEB.com   Parents are counting on credit to counterbalance skyrocketing college costs, according to The State of College Savings, a survey to assess the state of college savings conducted by the College Savings Foundation. Fifty-four percent have saved less than $5,000 toward their goal and almost 40 percent expect to take at least 10 years to dig out of the daunting debt expected to send their children to college.   8/27/08 Volkswagen lures customers with college savings option   There is a file assiciated with this Item. Click here to view the file. AccountingWEB.com   Hello 60s? Volkswagen is calling. The renowned manufacturer of the hippie vehicle of choice, the Volkswagen bus, is once again trying to lure the college audience, or at least the parents of college students, many of whom probably drove a bus in the 60s, by issuing a new minivan with an added incentive - $1,500 that can be moved directly into a 529 college savings account.   8/22/08 From Poverty to Prosperity: Success Stories and Tips for Providing Financial Education to Struggling Families   There is a site assiciated with this Item. Click here to visit the site. FDIC   In the latest installment of our Money Smart "Success Stories," we shine the spotlight on financial education at "social services" organizations -- including public assistance programs and welfare-to-work initiatives -- and some best practices any educator can use to help cash-strapped people learn how to save and borrow money so they can provide a more secure future for their families.   8/22/08 FDIC, United Way Partner to Expand the Delivery of Financial Education   There is a site assiciated with this Item. Click here to visit the site. FDIC   A new agreement between the FDIC and the United Way and its nearly 1,300 local organizations will help both organizations promote the establishment of banking relationships and expanded financial education efforts primarily for the benefit of low-income, unbanked and underserved families nationwide. The partnership also will place a special emphasis on the delivery of financial education to young adults.   8/22/08 Information on Foreclosure Prevention   There is a site assiciated with this Item. Click here to visit the site. FDIC   The FDIC has created a Web site for consumers, financial institutions, educators and others seeking information on foreclosure prevention. Additionally, financial educators who discuss shopping for a home loan could be interested in sample consumer disclosures that federal regulatory agencies published in May to help explain key features of certain adjustable-rate mortgages and the potential for payment shock if interest rates go up significantly.   8/22/08 FDIC Celebrates 75 Years, Announces Award Program for Financial Educators   There is a site assiciated with this Item. Click here to visit the site. FDIC   In commemorating the FDIC's 75th anniversary, Chairman Sheila C. Bair has announced an education campaign to help raise consumer awareness of deposit insurance limits and emphasize the importance of asset building and financial education. The campaign includes national advertising, a multi-city outreach effort, and an award program for outstanding work in financial education. The awards will recognize six people or organizations (one from each FDIC region) for innovation in financial education and will highlight best practices. Nominations will be accepted through October 31. (For more information about the new education campaign and the new award program.   7/24/08 Parents of college students unaware of many financing options   There is a file assiciated with this Item. Click here to view the file. AccountingWEB.com   The parents of this fall's college-bound freshmen may be breathing a collective sigh of relief that their children have cleared the admissions hurdle. But few parents understand the terms necessary to make fully informed financial aid decisions, says a new survey conducted by leading global strategic branding firm Siegel+Gale.   5/20/08 THE FDIC ISSUES MONEY-MANAGEMENT TIPS FOR ALL AGES   There is a site assiciated with this Item. Click here to visit the site. FDIC   No matter how old or young you are or how your life is changing, you can do something to better manage and protect your money. A new publication from the FDIC, entitled Money Tips for All Ages: Your Finances at Different Stages of Life, features suggestions for everyone plus special recommendations for teens through retirees. Separate articles offer practical advice for newlyweds; parents teaching children about money management; financial caregivers helping disabled or elderly relatives; and people coping with major life events ranging from welcoming a new child into the family to dealing with a death, divorce or job loss. The advice, in a special edition of the agencys quarterly FDIC Consumer News, can be read or printed online at www.fdic.gov/consumers/consumer/news/cnspr08. There is also an online form for ordering up to two free paper copies.   5/12/08 Teach a child to save at an Orlando School Colonial Bank   Colonial Bank reached over 3,000 students in CFLA and South West Florida on Teach a Child to Save Day efforts in Florida. Rosanna Jacobsen, a vice president with Colonial Bank, N.A. in CFLA visited with Carver Middle School for a teach in day event. Ms. Jacobsen also serves on the board of Florida Jump$tart Coalition and Academy of Finance.   5/6/08 Asset Building Coalition Meeting   Orlando, Florida. Foreclosure Prevention, Capacity building, financial education, resources and networking efforts were discussed in an effort to assist the Low income community and reduce poverty in Florida. This is a brand new coalition with a not so new initiative, asset building. Florida A&M University was the sponsor and was joined by: University of Gainesville, University of Tuskegee, Colonial Bank, N.A., Federal Reserve Bank of Atlanta, Riverside Bank, Human Services of Miami, faith based groups, community groups and concerned citizens. Other efforts before have been the Prosperity Campaign with United Way and others.   4/28/08 For High School Teachers and Their Students - The 2008 National Financial Literacy Challenge   There is a file assiciated with this Item. Click here to view the file. National Jump$tart Coalition   The newly formed Presidents Advisory Council on Financial Literacy has recommended that the U.S. Department of the Treasury challenge U.S. students to learn more about personal finance. Beginning April 28, 2008, high school teachers can register their classes to participate in the 2008 National Financial Literacy Challenge. The Challenge is a voluntary, 35-question test that students can take to earn recognition of their financial knowledge. It will be offered online until May 16, 2008 and there is no fee to participate. The attached document provides high school teachers with the information that they will need to participate in the Challenge, as well exciting information about the awards, which are sponsored by the Charles Schwab Foundation (a national Jump$tart partner). If you have any questions about this program, please contact the Treasury Department at FLC@do.treas.gov. Additionally, a Help Desk and Help Desk phone line are provided to teachers who register, to assist them with any technical questions or difficulties. Best of luck to the teachers and students who participate in the Challenge in its inaugural year!   4/14/08 FDIC's Adult Financial Literacy Program Surpasses Milestone; New Version to Help School-age Kids Learn About Money   There is a site assiciated with this Item. Click here to visit the site. FDIC   The Federal Deposit Insurance Corporation (FDIC) reports that one million Americans have had the opportunity to become more financially savvy through participating in its financial education program, Money Smart. In addition to surpassing that significant milestone, the FDIC today announced that it is making the program available to even more people with the introduction of Money Smart for Young Adults.   3/25/08 CFO SINK DESIGNATES APRIL AS FINANCIAL LITERACY MONTH   There is a site assiciated with this Item. Click here to visit the site. Florida CFO office   At a meeting of the Florida Cabinet, Florida Chief Financial Officer Alex Sink today announced her resolution designating April as Financial Literacy Month. During the month of April, CFO Sink will raise awareness about the need for increased financial literacy among Floridians, as well as increased availability to financial information and assistance.   3/21/08 Younger Generations Not Saving Enough   There is a site assiciated with this Item. Click here to visit the site.   Members of Generations X and Y, acknowledging that they need to pick up the slack when it comes to planning for their futures, are thinking about retirement and have defined financial goals -- but they aren't saving enough, according to a new report.   3/17/08 Financial Mathematics Specialist Job Opening   There is a file assiciated with this Item. Click here to view the file. Office of Mathematics and Science, Florida Department of Education   The Office of Mathematics and Science at the Florida Department of Education has been awarded grant funding to develop course descriptions, instructional materials, and professional development for mathematics teachers, to support the new Financial Literacy Body of Knowledge adopted by the State Board of Education in September 2007. Florida will hire a project manager for one year who will be charged with implementing this project and successfully completing Objectives 1.1, 1.2, and 2.1 (listed in attached document).   2/28/08 Sign Up for National Teach Children to Save Day -- April 29   There is a site assiciated with this Item. Click here to visit the site. ABA Education Foundation   The ABA Education Foundation announced Friday that bankers may now sign up to make presentations April 29 during the 12th annual National Teach Children to Save Day. The presentations, which will include games and activities about how interest makes money grow, how to create a spending plan and differentiating between needs and wants, are aimed at enhancing young Americans' financial literacy and money-management skills.   1/31/08 Most Delinquent Borrowers Still Unaware of Workout Options   There is a site assiciated with this Item. Click here to visit the site. FreddieMac   Despite news reports and outreach efforts by lenders and loan servicers, 57 percent of late-paying borrowers still don't know lenders may offer workout options to help avoid foreclosure, according to a survey by Freddie Mac and Roper Public Affairs and Media. The survey found that 60 percent of delinquent borrowers turn first to their financial institution or mortgage lender for information on managing mortgage payments or avoiding default, while 25 percent first check the Internet. Homeowners generally agree that financial institutions treat some customers better than others, but most believe their institution treats them fairly. Also, 59 percent of delinquent borrowers who contacted their lenders said it was "helpful," while 42 percent called it "frustrating," 35 percent "embarrassing" and 32 percent "reassuring."   1/27/08 4th-graders get market-savvy   There is a site assiciated with this Item. Click here to visit the site. Tallahassee Democrat   Is your knowledge of the stock market broader than a fourth-grader's? Chances are it's not if that student attends DeSoto Trail Elementary School. There, students are learning about the market through participation in the Florida Stock Market Simulation Game.   1/22/08 ESTABLISHING THE PRESIDENT'S ADVISORY COUNCIL   There is a site assiciated with this Item. Click here to visit the site. THE WHITE HOUSE   By the authority vested in me as President by the Constitution and the laws of the United States of America and to promote and enhance financial literacy among the American people, it is hereby ordered as follows   1/22/08 Jump$tart Executive Director Appointed to Presidents Council on Financial Literacy   There is a file assiciated with this Item. Click here to view the file. National Jump$tart Coalition   Washington, DC&President George W. Bush today signed an executive order that established the Presidents Advisory Council on Financial Literacy within the U.S. Department of Treasury. Laura Levine, executive director of the Jump$tart Coalition® for Personal Financial Literacy, has been appointed to the Council and was at the White House for the announcement today.   1/20/08 L.A. CITY COUNCIL PRESIDENT ERIC GARCETTI AND OPERATION HOPE DELIVER NEEDED ASSISTANCE   There is a site assiciated with this Item. Click here to visit the site. Los Angeles City Council President Eric Garcetti and Operation HOPE   LOS ANGELES  January 20, 2008  Los Angeles City Council President Eric Garcetti and Operation HOPE Founder and CEO John Hope Bryant on Friday announced the expansion and promotional campaign of the Mortgage HOPE Crisis Hotline 877-592-HOPE (4673). Within the first 24 hours the hotline received in excess of 5,000 calls.   1/13/08 State pushes money literacy: Personal finance course to be required in high school   There is a site assiciated with this Item. Click here to visit the site. The Tennessean   A new policy will force students to learn Money 101 in a state with one of the highest numbers of bankruptcy filings in the nation.   1/9/08 Personal bankruptcy jumps 96% in Orlando. The mortgage crisis is affecting borrowers at all income levels   There is a site assiciated with this Item. Click here to visit the site. Orlando Sentinel   Amid the growing mortgage-debt crisis, personal bankruptcies nearly doubled in Metro Orlando last year, although they remained far lower than the record levels earlier this decade, according to court figures released this week. Nearly 7,060 debtors declared insolvency in Orlando's federal bankruptcy court in 2007, up 96 percent from 2006, the U.S. Bankruptcy Court for the Middle District of Florida reported.   10/23/07 HUD on Tips to avoid foreclosure   There is a site assiciated with this Item. Click here to visit the site.   HUD on Tips to avoid foreclosure   10/18/07 Colonial Bank, N.A. pictures at Get Smart About Credit Day Colonial Bank, N.A.   Colonial Bank, N.A. and Florida Jump$tart Coalition pictures at Get Smart About Credit Day on October 18, 2007 in Melbourne at statewide teachers conference with Florida Business Technology Education Association. Each teacher trains an average of 90 students, so the outreach is about 1,350 students.   9/12/07 CFO Alex Sink will be taking calls from residents Sept 12, 2007 7-8pm   CFO Alex Sink will be taking calls from residents throughout Florida on Florida Public Radio Networks Florida on the Line from 7-8 p.m. tonight. Florida on the Line, FPRN's statewide call-in show, is broadcast each second Wednesday at 7 p.m. EST. You can hear Florida Public Radio Network reports on 12 stations across the state... Ft. Myers, WGCU - 90.1 FM Ft. Pierce, WQCS - 88.9 FM Gainesville, WUFT - 89.1 FM Jacksonville, WJCT - 89.9 FM Miami WLRN-FM - 91.3 FM Orlando, WMFE - 90.7 FM Palm Beach, WXEL - 90.7 FM Panama City, WFSW - 89.1 FM Panama City, WKGC - 90.7 FM Pensacola, WUWF - 88.1 FM Tallahassee, WFSU - 88.9 FM Tampa, WMNF - 88.5 FM Tampa, WUSF - 89.7 FM The phone numbers to call to participate in the program are 1-800-926-8809 or in Tallahassee (850) 414-1234. Email: fotl@wfsu.org .   9/8/07 International Literacy Day   There is a site assiciated with this Item. Click here to visit the site. Florida Department of Financial Services   Consumer eViews, Florida Department of Financial Services newsletter.   9/7/07 Community Affairs: FDIC on Financial Education   There is a site assiciated with this Item. Click here to visit the site. FDIC   This article highlights the results of an FDIC study of the effectiveness of the Money Smart financial education program. The study indicates that financial education programs can positively affect consumers money management attitudes and behaviors. The article discusses who may benefit the most from such financial education courses and why.   8/29/07 U.S. Department of Education Releases Report on Education Options in the States   There is a site assiciated with this Item. Click here to visit the site.   U.S. Department of Education Releases Report on Education Options in the States The U.S. Department of Education recently released a new report  Education Options in the States: State Programs that Provide Financial Assistance for Attendance at Private Elementary and Secondary Schools. This report provides information on State programs that provide various types of financial assistance for student attendance at private elementary and secondary schools. The report is intended as a reference for parents, educators, researchers and public officials. Specifically, the report provides: · An overview of State programs; · Key data on programs; · Descriptions of each program, including type, name, amount of assistance, number of participants, authorizing statute, legislative and judicial history, and sources for additional information; · An appendix with links to the authorizing statute(s) for each program; and · An appendix with Web resources for further information on the programs and private school choice in general. As of August 2007, there were 24 programs in 13 States and the District of Columbia that provide financial assistance in the form of voucher or voucher-like tuition assistance, tax credits, and tax deductions, compared with seven programs in seven States a decade ago. To view the report, visit www.ed.gov/parents/schools/choice/educationoptions/index.html.   8/22/07 FTC on Building a Better Credit Report   There is a site assiciated with this Item. Click here to visit the site.   http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm   8/22/07 Federal Reserve on Credit   There is a site assiciated with this Item. Click here to visit the site.   http://www.federalreserve.gov/Pubs/creditscore/default.htm   8/21/07 FDIC Issues Tips to Help Consumers Save Hundreds on Loans and Credit Cards   There is a site assiciated with this Item. Click here to visit the site. FDIC   The Federal Deposit Insurance Corporation (FDIC) today issued a collection of 51 simple, practical tips that can help consumers save hundreds, if not thousands, of dollars on loans and credit cards. The advice, in a special edition of the agencys quarterly FDIC Consumer News, provides ideas and information on topics such as how to get the best possible interest rates, avoid paying unnecessary fees, and steer clear of credit-related rip-offs and scams. "51 Ways to Save Hundreds on Loans and Credit Cards" can be read or printed online at The Federal Deposit Insurance Corporation (FDIC) today issued a collection of 51 simple, practical tips that can help consumers save hundreds, if not thousands, of dollars on loans and credit cards. The advice, in a special edition of the agencys quarterly FDIC Consumer News, provides ideas and information on topics such as how to get the best possible interest rates, avoid paying unnecessary fees, and steer clear of credit-related rip-offs and scams. 51 Ways to Save Hundreds on Loans and Credit Cards can be read or printed online at: www.fdic.gov/consumers/consumer/news/cnsum07   8/21/07 Florida Jump$tart's Newsletter: Second Quarter 2007-2008   There is a file assiciated with this Item. Click here to view the file. Florida Jump$tart Coalition   A Quarterly Newsletter to keep interested parties updated on projects and Initiatives of the Florida Jump$tart Coalition For Personal Financial Literacy.   8/15/07 45,000 2001 HSFPP STUDENT GUIDES MUST GO BY OCTOBER 31!   There is a file assiciated with this Item. Click here to view the file. NEFE   Orders for the new NEFE HSFPP has hit with real force, and the usual high volume of August, September and October is soon to begin. THEY STILL HAVE A REALLY GOOD SUPPLY OF THE 2001 NEFE HSFPP BOOKS! There are MANY student guides, and a few instructor manuals. The best part is that these books are still excellent educational materials. In the past, the rap on these books (we hear complaints about every edition) was that they looked too young for high school students. This is exactly why our last edition found a home in many middle schools (grades 6-8) or junior high schools (grades 7-9).   8/14/07 Annual Teach for Excellence Judging The Pinellas Education Foundation   The Pinellas Education Foundation invites you to participate in our annual Teach for Excellence judging scheduled for Wednesday, September 26. Approximately 60 community members come in to "judge" the applications for our classroom grant program in a variety of categories (reading/ literacy, math, science, career education, arts, music, heath, physical education, exceptional education). Community judges will be paired with school-based administrators. Date: Wednesday, September 26 Time: 8:00  11:00 a.m. Place: Stavros Institute- 12100 Starkey Road, Largo (Lighthouse Conference Room) To rsvp, please email Ann Stretch at pcs.stretcha@pcsb.org or stretcha@pinellaseducation.org   7/12/07 Promoting Foreclosure Solutions Campaign Launch (1-888-995-HOPE)   There is a site assiciated with this Item. Click here to visit the site. NeighborWorks America   Please help spread the word about this valuable resource. All of us can help struggling families preserve their housing and protect their asset by encouraging them to dial this toll-free number before it is too late. 1-888-995-HOPE.   7/12/07 US Post Office Freebies   US Post Office Freebies The Postal Inspection Service has consumer awareness brochures and videos available at no cost on how to: · Safely conduct business over the Internet · Recognize legitimate sweepstakes offers · Understand the features of a legitimate postal money order Avoid being victimized by investment fraud And others http://www.usps.com/postalinspectors/   7/12/07 ARM Subprime Mortgage Loans   ARM Subprime Mortgage Loans The federal financial regulatory agencies have issued a Statement on Subprime Mortgage Lending that addresses issues relating to certain adjustable-rate mortgage (ARM) products that can cause payment shock. The Statement establishes prudent safety and soundness and consumer protection standards that should be followed to ensure that consumers, especially subprime borrowers, obtain loans they can afford to repay and receive information that adequately describes product features. http://www.fdic.gov/news/news/financial/2007/fil07062.html   7/12/07 Mortgage Brokers   Mortgage Brokers According to a July 5 article in the Wall Street Journal (Mortgage Mess Shines Light on Brokers Role), as more and more borrowers default on home loans they could not afford or whose terms they did not understand, the role of mortgage brokers increasingly is being scrutinized. Wholesale Access reports an increase in the number of broker-assisted loans to 58% of all mortgages from 40% during the last 10 years, with brokers accounting for about 50% of prime loans, 75% of subprime loans, and 70% of Alt-A mortgages.   7/12/07 Mortgage and Housing News   The benchmark 30-year fixed rate mortgage average fell in the week ending Thursday, to 6.63% from 6.67%, according to Freddie Mac. Its weekly survey showed the 15-year loan also fell, to 6.30% from 6.34%. MarketWatch. July 5 Listings of homes in 18 major metropolitan areas were up 2.5% at the end of June from the previous month, according to ZipRealty Inc. The National Association of Realtors reported this week that its May index of pending home sales declined 3.5% from a month earlier to stand at 97.7, down 13% from last year. Wall Street journal, July 5. Applications for U.S. home loans rose slightly last week, the Mortgage Bankers Association reported. Its weekly mortgage index rose 0.1% as purchase applications outweighed applications for refinancing. AP, July 5 According to a new report by Moody's Investors Service, the agency does not anticipate widespread rating downgrades among the US mortgage insurers over the near to intermediate term. Moody's says that "although mortgage insurers' portfolios have exhibited some higher risk characteristics in recent years, [&] subprime loans comprise less than 12% of the industry's total risk-in-force." Moody's believes that the industry's 2007 statutory net income will most likely decline versus 2006, but that the U.S. mortgage insurance industry as a whole should remain profitable. Moodys Press Release, July 2.   7/10/07 July 11, 2007 First Meeting of the Financial Literacy Council   The states Financial Literacy Council met Monday in Tallahassee to outline their goals, strategies, and identify key issues of which they will focus over the next few years. Mondays meeting established Obdulio Piedra of Miami-Dade as the councils chairman and identified the councils mission statement: to help all Floridians make informed financial decisions. The next meetings of the council will be held via conference call on July 11, 2007 and in-person meeting in Tampa on August 11, 2007. The council, authorized in 2006 by House Bill 825, was created to study the financial problems that affect consumers, particularly young persons, seniors, working adults and small business owners, which arise from a lack of basic knowledge of financial issues. The council will also develop recommendations to aid CFO Sinks department-- the Department of Financial Services-- in developing programs and resources aimed at increasing financial literacy among Floridians. For more information on the council visit www.myfloridamoney.com.   6/28/07 2nd Quarter 2007 Florida Jump$tart Presidents Award for Excellence in Community Service for Personal Finance Florida Jump$tart   CCCS of West Palm Beach and Treasure Coast: For outstanding work and innovation in various outreach efforts to train people on personal finance, including their recent partnership with Persons with Disabilities and their STARS program, reaching out to a variety of Floridians. Personal Finance Information and Materials are in demand by so many groups. InCharge Education Foundation: For their leadership and creativity in teaching financial education to the youth via Grab Todds Cash, Mind Your Finances, Military Money, Young Money and for their partnership with many personal finance efforts both nationally and in Florida, such as UCF and Florida Council on Compulsive Gambling. These groups reach out to thousands bringing public awareness and information to help people make better informed financial decisions early on.   6/20/07 FDIC Report Highlights Business Case for Banks to Offer Individual Development Accounts   There is a file assiciated with this Item. Click here to view the file. FDIC   A particular type of savings account, the Individual Development Account (IDA) , is a relatively low risk way for banks to introduce American households who do not currently use the banking system to banking services and products that are offered. This article explains how IDAs operate, describes banks experience with IDAs, and points bankers to sources of information about these programs.   6/20/07 CARE Program June Newsletter   There is a file assiciated with this Item. Click here to view the file.     6/19/07 FDIC Board Approves Small-Dollar Loan Pilot Project FDIC   The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a two-year pilot project to review affordable and responsible small-dollar loan programs in financial institutions. The project, the Affordable and Responsible Consumer Credit initiative, is designed to assist bankers by identifying information on replicable business models for affordable small-dollar loans. Best practices resulting from the pilot will be identified and become a resource for other institutions.   6/8/07 FDIC and Money Smart in the News   There is a site assiciated with this Item. Click here to visit the site.   Survey Shows FDIC's Money Smart Program Improves Consumers' Money-Management Practices and Financial Confidence FIL-46-2007 June 8, 2007 Summary: Using a three-part survey to determine the effectiveness of its Money Smart financial education curriculum, the FDIC found that the program positively influenced how course participants manage their finances as well as their financial confidence. The study also found that these positive changes were sustained months after participants had completed Money Smart training. Distribution: FDIC-Supervised Banks (Commercial and Savings) Complete Financial Institution Letter: http://www.fdic.gov/news/news/financial/2007/fil07046.html   6/8/07 Newly Revised Jump$tart Standards in K-12   There is a file assiciated with this Item. Click here to view the file.     6/7/07 FDIC: Consumer Protection on Credit Cards   There is a site assiciated with this Item. Click here to visit the site.   Statement Of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation on Improving Credit Card Consumer Protection: Recent Industry And Regulatory Initiatives before the Subcommittee On Financial Institutions and Consumer Credit of the Financial Services Committee, U.S. House Of Representatives, delivered on June 7, 2007 is available at the following link: http://www.fdic.gov/news/news/speeches/chairman/spjun0707.html   6/6/07 New Jump$tart Partner   There is a file assiciated with this Item. Click here to view the file. CARE Program     6/5/07 CARE Program a Personal Finance Effort from Bankruptcy Court Judges   There is a file assiciated with this Item. Click here to view the file.   www.Careprogram.us   6/1/07 April 18, 2007: Annual Jump$tart Coalition Dinner   April 18, 2007: Annual Jump$tart Coalition Dinner and Meeting in Washington, D.C. National and State members and partners attended the annual meeting.   5/21/07 CUNA on Personal Finance   There is a site assiciated with this Item. Click here to visit the site.   The Pros Know: Personal Finance Tools That Are Hits With the Experts by Monica Steinisch With millions of online, print, and broadcast sources for personal finance information to choose from, how do you find the ones that offer the most useful tools, a user-friendly format, and information you can trust--without making a full-time job of the hunt? You ask an expert, of course. Who better to get the inside scoop from than those in the know? Here, seven experts share their favorite books, Web sites, and other resources for getting the latest news, most practical information, and accurate answers to your personal finance questions. Rick Harper The expert: Rick Harper is the director of housing and vice president of program services for Consumer Credit Counseling Service of San Francisco. As the founder of the organization's award-winning, HUD-approved Housing Education Program, Harper teaches consumers how to buy their first house, protect the one they have, and make wise credit choices. He received an award of appreciation from the Secretary of Housing and Urban Development for outstanding contributions to home ownership in the San Francisco Bay Area. The pro's picks: IRS Withholding Calculator This online calculator helps employees fill out their W-4 correctly so that they do not have too much or too little income tax withheld from their pay. It's particularly useful for first-time home buyers, who can run the calculator taking into consideration their new, deductible mortgage payments and property taxes. An increase in deductions on the W-4 means an instant increase in take-home pay! "Money Troubles: Legal Strategies to Cope With Your Debts" by Robin Leonard Harper recommends "Money Troubles," published by Nolo Press, to anyone who uses credit: "Consumers need to know their rights and responsibilities when it comes to borrowing." While the book is geared toward consumers feeling overwhelmed by their debts and who may even be facing legal action, it includes information on avoiding trouble, such as creating a budget and preventing identity theft. Chris Bjorklund The expert: Chris Bjorklund, a former consumer reporter for both television and radio, has spent 30 years reporting on and advocating for consumer rights. She currently is an independent consumer affairs consultant and sits on the board of directors for Consumer Action, a consumer advocacy group based in San Francisco, and Consumers Union, New York, which publishes Consumer Reports and the new Consumer Reports Money Adviser personal finance newsletter. The pro's picks: ConsumerWorld.org "There's a consumer protection element to every transaction--from taking out a loan to making a purchase to investing your money," says Bjorklund. "ConsumerWorld.org is probably the largest consumer information Web site out there run by a nonprofit." Site visitors can find consumer protection information, money-saving tips, news about recalls and special offers, and much more. There's even a dedicated Money category with links to hundreds of tools and sites. Gerri Detweiler The expert: Gerri Detweiler is the former executive director of the nonprofit consumer education and advocacy group Bankcard Holders of America (no longer active) and a frequent contributor to radio, television, and print stories about credit, debt, and personal money management. Her book, "The Ultimate Credit Handbook," was named by Money magazine as one of the top five personal finance books in the year it was published. Detweiler's Web site offers information and solutions for consumers in debt. The pro's picks: ZilchWorks.com "This is a great tool for anyone with multiple credit cards who is trying to pay off debt," says Detweiler. Credit Card Math is a free, downloadable program that reveals the trick to allocating your credit card payment dollars to get the biggest bang for your buck and save a small fortune in interest charges. The Zilch program uses the principles of "credit card math" to let you customize your own debt reduction plan. Download the free trial version to see if this might help you dig your way out of the hole. (Download doesn't work on a Mac.) ItsAHabit.com Detweiler, who describes this as one of the great financial education programs for kids, says that her five-year-old loves this site and the related books and CDs. The It's A Habit Company, whose tagline is "Changing children's lives one dime at a time," teaches financial literacy and other life skills and habits to children in an entertaining way. Detweiler says that after listening to Sammy, the rabbit with great habits, her daughter adopted a totally different attitude about money and became more of a saver, practically overnight. Suze Orman The expert: Suze Orman is the author of a bookshelf full of personal finance resources, including the bestsellers "The Road to Wealth," "The Courage to Be Rich," and "9 Steps to Financial Freedom." The recipient of a Daytime Emmy Award for her most recent PBS special, The Laws of Money, The Lessons of Life, Orman also hosts her own national CNBC-TV show, which airs every Saturday night. Articles, resources, program schedule, and Orman's personal finance library can be found at her Web site. The pro's picks: Savingforcollege.com "This is the best site out there, bar none, for 529 (college savings) plans," says Orman of the site run by Joe Hurley, the "nation's expert" on qualified tuition programs, known as 529 plans. For parents looking for a tax-advantaged way to save for their children's education, this site is a one-stop-shop for information about 529 plans and referrals to plan advisers in your state. You also can order Hurley's book, "The Best Way to Save for College--A Complete Guide to 529 Plans," online. SmartMoney.com and MSN Money "These are great for someone who's just getting started (investing)," Orman says of SmartMoney and MSN Money's mutual fund comparison tools. At SmartMoney.com, click the Funds tab near the top of the screen. At moneycentral.msn.com, click the Investing tab and then Research Wizard under the Funds menu in the column along the left side of the page. From these two starting points, visitors can choose from a number of user-friendly, yet powerful, tools for evaluating investments. Orman particularly likes SmartMoney's Fund Snapshots feature (accessed via a link under the Tools & Research heading on the left side of the page), where you can enter a fund symbol or name and get an at-a-glance "scorecard" grading the fund in five areas on a scale of one to five. Click the Return tab (above the scorecard) to view a graph that compares your fund's performance against the performance of other funds or key indexes you specify. The MSN Money site has a similar "snapshot" feature (choose Snapshot under Fund Research in the left-hand column), providing essential information and a five-star rating system. Try out the Comparison feature (accessed via a link under Research Wizard on the left side of the page), which lets investors compare a fund to one or two of its peers to see how it stacks up against other options in its category. "These tools make it easy for somebody to make a decision," says Orman. And isn't that what a tool is supposed to do? Ed Slott The expert: Ed Slott, CPA (certified public accountant), was named "the best" source for IRA (individual retirement account) advice by The Wall Street Journal and called "America's IRA expert" by Mutual Funds Magazine. Slott is the author of "The Retirement Savings Time Bomb and How to Defuse It" and Ed Slott's IRA Advisor, a monthly IRA newsletter. He regularly presents continuing professional education seminars about IRA distribution planning and estate planning at major conferences. His Web site also can help. The pro's picks: "Cracking Your Retirement Nest Egg (Without Scrambling Your Finances)" by Margaret Malaspina "I like this book because it hits the important main points (of tapping your retirement accounts) without delving so deeply into any one single topic that it becomes intimidating to the reader," says Slott. Malaspina's book covers such retirement issues as plan types, rolling over accounts, and avoiding taxes. Eric Tyson The expert: Eric Tyson is a best-selling personal finance author whose books include "Personal Finance for Dummies," "Investing for Dummies," and "Mutual Funds for Dummies." (He also is the only author to have four of his books simultaneously on BusinessWeek's business book bestseller list.) More than four million people nationwide read his syndicated newspaper column, Investor's Guide. Tyson was a featured speaker at a White House conference about retirement planning. The pro's picks: Nolo Press Nolo, a publisher of do-it-yourself law (books, software, and forms), promotes "everyday law for everyday people." What Tyson likes about Nolo's approach is "that they cut through the legal jargon" and present the law in plain English. By demystifying legal issues, Nolo helps consumers make wise choices. If they do come up against a legal issue, they have the knowledge to determine whether or not they need to hire a lawyer. Nolo's products span virtually every area of the law. "A Random Walk Down Wall Street" by Burton Malkiel One of Tyson's favorite books is this updated investment classic, in print for 30 years. In a nutshell, Malkiel discourages any attempts at market timing and advises investors to "buy and hold" a diversified portfolio heavy on index funds that passively mirror the market. Though his approach is not radical, it's brought success to many long-term investors. Vanguard.com Tyson is a self-proclaimed fan of mutual fund giant Vanguard because of the investor-friendly resources it offers. Visitors to the Planning & Advice section of the Vanguard site can access a library of PlainTalk® investment guides that offer information and steps you can take to achieve your goals. Information also is provided in printed form, and as Webcasts. Susan Keating The expert: After more than 29 years in the commercial banking industry, Susan Keating now heads up the National Foundation for Credit Counseling (NFCC), the nonprofit organization that sets the national standard for quality credit counseling, debt reduction services, and education for financial wellness. Visitors to NFCC's Web site can access debt management, budgeting, and home buying information and materials, and locate a credit counseling or housing counseling agency in their area. The pro's picks: Fannie Mae and Freddie Mac Keating thinks that these two Web sites, and the organizations behind them, can be a great help to consumers, "since home buying is such a big part of life." While neither Fannie Mae nor Freddie Mac is a direct housing lender, both housing finance companies' sites include sections specifically for home buyers. Information and materials include credit reporting facts, calculators, and work sheets to help you figure out how much house you can afford, guidelines to help you choose the home loan that best meets your needs, a database of lenders, and much more. Now that you know what personal finance resources the pros think are tops, take the time to check them out. Ultimately, the greatest tool for achieving your financial goals is your own commitment to learn and take action.   5/16/07 The Spring 2007 Issue of Extra Credit is Now Available   There is a site assiciated with this Item. Click here to visit the site. Federal Reserve Bank of Atlanta   The Spring 2007 issue of Extra Credit, a newsletter for educators, is now available on the Federal Reserve Bank of Atlanta's Web site. This online economic and financial education newsletter is designed for classroom teachers in middle and high school. Published twice a year, Extra Credit provides informative articles, lesson plans and activities, teaching tips, and a calendar of teaching workshops and events. Articles in the spring 2007 issue focus on the premiere of Katrina's Classroom: Financial Lessons from a Hurricane, a new DVD and lesson plan package designed to teach middle and high school students the importance of being financially prepared; the winner of the Lesson Plan of the Year contest; an article discussing the importance of maintaining a good credit history; and an article and activities about the effect of energy on the U.S. economy.   5/11/07 National Standards in K-12 Personal Finance Education   There is a site assiciated with this Item. Click here to visit the site. Jump$tart Coalition for Personal Financial Literacy   The newly revised National Standards in K-12 Personal Finance Education are now live on Jump$tart's website. Please go to www.jumpstart.org and click on "Standards" in the menu bar. Or, use this link to go directly to the Standards page: http://www.jumpstart.org/guide.html You can view the Standards online and/or download a .PDF file. If these standards are pertinent to your members/affiliates/constituents/customers, we encourage you to forward this announcement and link to them. With this revision of the Standards, we are emphasizing the use of the online version. We have a small supply of print copies in our office, which we will make available at no cost. These National Standards can be used to shape lesson plans and course outlines, to evaluate educational materials, and to develop educational requirements. Before you use these Standards to create new educational resources, we encourage you to visit our online clearinghouse at www.jumpstartclearinghouse.org to determine whether tools already exist to meet your need. Thank you to Philip Heckman, Rosella Bannister and the revisions task force. Thank you to the many reviewers who submitted their comments. Thank you to the Federal Reserve Board for its in-kind donation of graphic design and printing. Thank you to the many partners who have supported these Standards.   5/9/07 FDIC on Financial Literacy   There is a site assiciated with this Item. Click here to visit the site.     5/9/07 Homeschooling and Florida Jump$tart Partners   Homeschooling with Florida Jump$tart and Partners I wanted to give you an end-of-year wrap-up of what I and a group of 14 homeschooled childrens (and their parents) achieved. Using curriculum resources from the National Council on Economic Education, these students explored economic topics such as the Law of Supply & Demand, productive resources, trade, money, taxes, the stock market, inflation and the nation's GDP! We studied together every other Thursday afternoon using Play-Dough and craft materials to create goods and even entire cities. In November, we formed the Swirly-Twirly Christmas Wish Ornament Company and sold $750 worth of hand-painted Christmas ornaments, learning about cost, revenue, profit and loss. In sum, it was a great year and I look forward to doing something new for 2007-2008! I'm grateful to have linked with Jump$tart, since it was through that relationship that I was able to meet my employer's requirements for taking paid time off for volunteer activities. I'm really glad that these kids -- ranging in age from 8 to 12 -- had this opportunity to learn. It was very experientially based, so topics like inflation came alive when they learned that doubling their classroom currency didn't necessarily mean they doubled their purchasing power.   5/1/07 FDIC: Survey Shows Money Smart Works American Banker, Steven Sloan   A survey the Federal Deposit Insurance Corp. released Monday indicated participants in the agency's Money Smart financial literacy program take the lessons they learn to heart. In a Gallup poll commissioned by the FDIC, 43% of participants who did not previously have a checking account said they opened one after they completed the program. The participants also began saving; 37% of respondents said they opened a savings account after they finished the program. "This unprecedented survey shows that financial education works and can make a significant difference in the way people save and spend their money," FDIC Chairman Sheila Bair said in a press release. Also, 69% of respondents said they increased their level of savings after completing the course, 53% said they paid down debt, and 58% said they were more likely to shop around for financial products. The FDIC designed the free program to help adults improve their money-management skills and understand the basics of banking.   5/1/07 Study: Half of U.S. Teachers Use Financial Literacy Content in Class   There is a site assiciated with this Item. Click here to visit the site.   Study: Half of U.S. Teachers Use Financial Literacy Content in Class http://www.insideindianabusiness.com/newsitem.asp?ID=23070 Testimony Dan Iannicola: State of U.S. Financial Literacy http://www.ustreas.gov/press/releases/hp379.htm Pint-Sized Savers Stuff Piggy Banks with $1.16 Million http://prnewswire.com/cgi-bin/stories.pl?ACCT=ind_focus.story&STORY=/www/story/04-27-2007/0004575446&EDATE=FRI+Apr+27+2007,+07:00+AM 'Saving Sammy' Enthralls Students http://sgvtribune.mycapture.com/mycapture/enlarge.asp?userphoto=0&theway=back&picnum=6&image=14771274&thispage2=&return=#show Sammy   5/1/07 May 3, 2007: National Academy of Finance: Scholarship Awards   scholarship ceremony will be held Thursday, May 3, 2007 at 8am at the Educational Leadership Center Boardroom We will be awarding 45 scholarships this year. This is our culminating event after everyones hard fund raising efforts. Thank you for your tremendous support! Patricia G. Breeding NAF Coordinator, Marketing 445 W. Amelia St, Orlando Fl. 32801 407-317-3200 ext 2690 Fax 407-317-3343   5/1/07 Whitehouse on Financial Literacy Month   There is a site assiciated with this Item. Click here to visit the site.     4/30/07 FDIC on Consumers and Moneysmart   There is a site assiciated with this Item. Click here to visit the site.   Gallup data demonstrate the lasting effects of the FDIC's Money Smart program. Findings from a survey of consumers who have taken the FDIC's Money Smart financial education program show that the training can positively influence how people manage their finances. The survey is the first to examine the impact of financial education on the behavior of a broad audience up to one year after completing the training. "This unprecedented survey shows that financial education works and can make a significant difference in the way people save and spend their money," said FDIC Chairman Sheila C. Bair. "I am proud that the FDIC and our Money Smart curriculum have been at the forefront in financial education, and have had such a positive impact on the lives of those who have taken part in the program." The survey results indicate that those who took the Money Smart course were more likely to open deposit accounts, save money, use and adhere to a budget, and have increased confidence in their financial abilities when contacted 6 to 12 months after completing the course. A majority of those surveyed reported an increase in personal savings, a decrease in debt, a better understanding of financial principles, and an increased willingness to comparison shop for financial services. Among other changes in behavior 6 to 12 months after the course were these: 43 percent of those without a checking account after completing the course had opened a checking account. 37 percent of those without a savings account after completing the course had opened a savings account. 22 percent who already had a checking account at the conclusion of the training had opened a checking account at a different financial institution, and 13 percent had opened a different type of account at the same institution, demonstrating the ability to comparison shop. 61 percent of those not using a spending plan/ at the end of the course had used one when polled. 95 percent of those who used a spending plan at the end of the course still used it when surveyed. Between the beginning of the course and the survey, there was a 12 percent increase in the number of participants who always paid bills on time. Since its inception, more than 864,000 consumers have attended at least one financial education class using the Money Smart curriculum and more than 128,000 have established new banking relationships as a result. The FDIC engaged the Gallup Organization to help design and administer the survey to determine the impact of Money Smart on the behavior of those attending the training. Gallup interviewed 631 people who had completed the FDIC's Money Smart program six to 12 months earlier. Each person interviewed completed a survey at the start of the training and then immediately following completion of the course. The FDIC created its award-winning financial education program to help adults enhance their money-management skills, understand basic financial services and build confidence to use banking services. Money Smart is available free of charge in six languages and Braille, and is available on the FDIC's Web site at www.fdic.gov and on a computer-based instructional CD-ROM. The study: A Longitudinal Evaluation of the Intermediate-term Impact of the Money Smart Financial Education Curriculum upon Consumers' Behavior and Confidence - April 2007 is available at: http://www.fdic.gov/consumers/consumer/moneysmart/pubs/ms070424.pdf   4/30/07 FINANCIAL LITERACY COUNCIL APPOINTED IN FLORIDA:   There is a site assiciated with this Item. Click here to visit the site.   FINANCIAL LITERACY COUNCIL APPOINTED IN FLORIDA: CONGRATULATIONS TO THE CFO AND THE DEPARTMENT OF FINANCIAL SERVICES. CONGRATULATIONS ALSO TO ALL THE APPOINTEES, INCLUDING THREE OF OUR FLORIDA JUMP$TART COALITION FOUNDING BOARD MEMBERS APPOINTED TO SERVE ON THE FLORIDA FINANCIAL LITERACY COUNCIL, JA, FCEE AND FCUL! THIS IS A GREAT STEP FOR FLORIDA AND PERSONAL FINANCE FOR ALL FLORIDIANS. -ROSANNA JACOBSEN PRESIDENT FLORIDA JUMP$TART COALITION FOR PERSONAL FINANCIAL LITERACY WWW.FLJUMPSTART.ORG   4/30/07 FDIC on Empowering Americans to Make Informed Financial Decisions   There is a site assiciated with this Item. Click here to visit the site.   Testimony of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation, on The Federal Governments Role in Empowering Americans to Make Informed Financial Decisions before the Subcommittee On Oversight Of Government Management, The Federal Workforce, And The District Of Columbia of the Committee On Homeland Security And Governmental Affairs; United States Senate delivered on April 30, 2007 is available at the following link: http://www.fdic.gov/news/news/speeches/chairman/spapr3007.html   4/30/07 CCCS South Florida: Funding Your Future   April 26, 2007 Funding Your Future A college education is the first step towards building a secure professional and financial future. Thanks to the Internet, everyone can easily look for scholarships (also known as free money for school). While the majority of scholarship offers are legitimate, parents and students should be aware that there are some scams out there. Here are a few tips for how to spot the less-than-legitimate scholarships: Application fees: most scholarships do not require you to pay in order to qualify. Be very careful of anyone asking you for money, in order to give you money. Secret searches: beware of scholarship search services that claim to have access to secret or hidden funding sources. Legitimate search services have access to the same public information you do, especially if theyre looking for government dollars. Web sites filled with pop up ads or that try to sell you on another product or services are often just that: online stores that want to do business with college-bound teens. And anytime you share your personal data online, read the sites privacy policy so you know how theyre safeguarding your information. High-achieving students from low-to-moderate income households should know that an Ivy League education is not out of reach. Harvard University will waive tuition for students whose family income is less than $40,000 a year. Yale University grants tuition waivers to students whose parents earn less than $45,000 per year. One very good source for educational funding can be found at www.scholarshipexperts.com.   4/30/07 FDIC and Capital Area Asset Builders Launch "DC Saves" Campaign in the Nation's Capitol   FDIC and Capital Area Asset Builders Launch "DC Saves" Campaign in the Nation's Capital FOR IMMEDIATE RELEASE April 30, 2007 Media Contact: Andrew Gray (202) 898-6993 The Federal Deposit Insurance Corporation (FDIC) and the Capital Area Asset Builders today jointly launched "DC Saves"  a citywide campaign to provide Washington, D.C. residents with information and resources to help them reduce debt, save more and build wealth. In the spirit of the campaign, several area financial institutions are offering special savings accounts  with features such as no monthly or minimum balance fees for at least 12 months  to encourage residents to save. "Far too many Americans have either no relationship with a mainstream financial institution or limited access to banking products and services," said FDIC Chairman Sheila C. Bair. "I encourage all District residents to begin the journey toward saving and building wealth. 'DC Saves' will help residents take that first step." Nationwide, the personal savings rate is steadily declining and nearly one in five American households has zero net worth or is in debt. "DC Saves" will work to reverse this trend locally, providing information, advice and encouragement to help District residents reduce debt, increase household savings and build wealth. Individuals who enroll as "DC Savers" can receive the following benefits, at no cost: budget and credit counseling, housing counseling, opportunities to attend financial seminars on a range of topics, quarterly American Saver newsletters, advice by e-mail from certified financial planners and certified public accountants, and access to a wide range of financial information. Capital Area Asset Builders is the coordinating agency for the "DC Saves" campaign, a local offshoot of "America Saves"  a nationwide coalition of nonprofit, corporate and government agencies working together to assist individuals and families save and build wealth. Partners of the "DC Saves" campaign include local financial institutions, government agencies, community organizations and nonprofit organizations. The campaign seeks to reach all District residents through employers, civic groups, local business, schools, social service providers, places of worship, and anywhere that financial education and savings can be promoted. To learn more about "DC Saves," including how to enroll as a "DC Saver," and to see a list of participating financial institutions, visit www.dcsaves.org. # # # Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,681 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars  insured financial institutions fund its operations.   4/27/07 US Treasury Department Office of Public Affairs on Financial Literacy   There is a site assiciated with this Item. Click here to visit the site.   U.S. Treasury Department Office of Public Affairs For Immediate Release April 27, 2007 Contact Jennifer Zuccarelli, (202) 622-8657 Treasury Releases 'Choose to Save' Television Commercial during National Financial Literacy Month Washington, DC - The U.S. Treasury launched its first financial education television commercial this week to encourage Americans to save for important life events. The "Choose to Save" public service announcement, a product of a partnership with the American Savings Education Council (ASEC), arrives during national financial literacy month and promotes free government resources for financial planning available on the website www.MyMoney.gov and toll-free hotline 1-888-MyMoney. The 30-second public service announcement, part of ASEC's broader Choose to Save series of radio and television spots, can be found at www.treas.gov/financialeducation. The National Association of Broadcasters is nationally distributing the commercial, which was created at WJLA-TV in Washington, D.C. "The goal of this television spot is to make more Americans aware of the federal government's treasure of free, non-biased financial planning resources," said Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr. "Before the MyMoney.gov website, this information was all a hidden treasure, spread across more than 20 government web sites. This commercial tells everyone that now they only need to know one place to visit." The ad directs viewers to the federal government's one-stop shop website for personal finance information. The MyMoney.gov website, available in both English and Spanish, has links to materials that teach the importance of saving for retirement, managing credit cards, investing, avoiding scams and many other useful subjects. Users can also test their financial literacy knowledge with the Money 20 quiz. The April release of the Choose to Save commercial coincides with Financial Literacy Month, a national observance to promote wise money management. The month has been recognized by resolutions by both houses of Congress and with events across the country. "Managing your money is a year-round job, but this month we join with our financial literacy partners in government, business and the non-profit world to encourage Americans to take the first steps to learning more about their money," Iannicola said. "With that knowledge Americans have the power to plan a secure financial future." Treasury heads the Congressionally-mandated Financial Literacy and Education Commission. The 20-agency federal commission created the MyMoney.gov website and toll-free hotline in October 2004 and released a national strategy for financial literacy in April 2006. ASEC and ChoosetoSave.org are educational programs of the nonpartisan Employee Benefit Research Institute.   4/27/07 1st Quarter 2007 Florida Jump$tart Presidents Award for Excellence in Community Service for Personal Finance   1st Quarter 2007 Florida Jump$tart Presidents Award for Excellence in Community Service for Personal Finance: Florida Institute of CPAs: For outstanding work via Financial Fitness Day each April for personal finance tips, Kids Day Program at the Capitol, Feeding the Pig program for kids. Florida Department of Financial Services: For their leadership: forming Florida Office of Financial Regulation to prevent fraud beginning with financial education and launching a new program for youth called Basics of Savings and Investing.   4/27/07 Financial Literacy Articles During April Financial Literacy Month   Articles Remarks by President Bush After Meeting on Financial Literacy Yahoo News http://news.yahoo.com/s/usnw/20070425/pl_usnw/remarks_by_president_bush_after_meeting_on_financial_literacy Financial Literacy Begins at Home, Not in Congress CBS Marketwatch, Chuck Jaffe http://www.marketwatch.com/news/story/story.aspx?guid=%7B689BB2BB%2DFFA5%2D4F3F%2D9BF2%2D0E7DF0131304%7D&dist=rss The Indie Typist: Financial Illiteracy The Stanford Daily, Student Kevin Padrez http://daily.stanford.edu/article/2007/4/18/theIndieTypistFinancialIlliteracy Financial Stability - Princess Advocates for Financial Literacy Thomasville Times-Enterprise, Georgia http://www.timesenterprise.com/local/local_story_111224031.html Kids Get Money Smart Washington Post, Margaret Webb Pressler http://www.washingtonpost.com/wp-dyn/content/article/2007/04/14/AR2007041400125.html Teach teens to live within their future means Washington Post, Michelle Singletary http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20070419/BUSINESS01/704190384 Credit cards scrutinized Democrat and Chronicle, Cara Matthews http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20070417/BUSINESS/704170315 Bankers, experts decry lack of savings The Journal Gazette, Sherry Slater http://www.fortwayne.com/mld/journalgazette/17085893.htm Teaching kids about money matters Star-Gazette, Rick McDaniel http://www.stargazettenews.com/apps/pbcs.dll/article?AID=/20070418/LIFE06/704180303 A small price for teaching kids fiscal matters Stars and Stripes, Chris Fowler http://www.estripes.com/article.asp?section=104&article=52683&archive=true Fed chief stresses financial literacy Akron Beachon Journal, Ohio, Jeannine Aversa http://www.ohio.com/mld/ohio/business/17137127.htm?source=rss&channel=ohio_business   4/26/07 Washington, DC Jump$tart Coalition   Remarks by Chairman Ben S. Bernanke Welcoming remarks At the Greater Washington Jump$tart Coalition financial education event, Washington, D.C. April 25, 2007 Good morning. I am pleased to be able to be here today, at the Greater Washington Jump$tart Coalition's inaugural event, to celebrate Financial Literacy Month 2007 and to say a few words about the importance of financial education. I join other Jump$tart partners as well as professionals from the fields of banking, finance, government, and law who will be speaking to nearly 2,000 public high school students about financial literacy. It is a special privilege to be with the students here today, the juniors and seniors of Washington's own Woodrow Wilson High School. You are ambassadors of your school and indeed of Washington, our nation's capital. I know that this is a school committed to academic excellence. As you think about the time, not so far away now, when you will leave Wilson High, I hope that you will resolve to keep, throughout your life, the habits of learning and of thinking for yourself that you have gained in your years here. As you think about your future, don't forget the importance of financial literacy. Although financial matters are probably not at the front of your minds today, the day will come when you will be responsible for managing your own or your family's budget or when you will find that you need to save to get the things you want--a college education, a new car, or even your own home. To achieve these personal goals and to build financial security, you will need to understand the fundamentals of budgeting, banking, saving, and investment. It is also essential that you know how to use--properly and responsibly--the many types of credit that will be at your disposal, such as credit cards. Later this morning, my colleagues from the Federal Reserve will be talking with you about how to manage your credit. Because credit has become such an integral part of our economy, and because there are so many sources and forms of credit available, much more financial sophistication is required today than when I attended high school. As a parent of two young adults myself, I believe that helping young people become financially literate is critical for their future economic well-being and should be a high priority for educators. In addition to celebrating Financial Literacy Month 2007, we are here today to celebrate the inaugural event of the Greater Washington, D.C., chapter of the Jump$tart Coalition for Personal Finance. The Coalition is a national leader among organizations that work to improve the personal financial literacy of students from kindergarten to the university level. In particular, through its biennial survey of high school seniors, Jump$tart has brought increased attention to the issue of financial literacy among youth in the United States. The results of the surveys, which have shown that students' financial knowledge is often much less extensive than we would like, remind us of the need for continued efforts to help all students--as well as adults--obtain the skills they need to navigate today's increasingly complex financial markets. This new chapter of Jump$tart has joined forces with over fifty individuals, businesses, and not-for-profit, educational, and government organizations, including the Federal Reserve Board, to increase knowledge about personal finance among schoolchildren and young adults in the Greater Washington, D.C., region. The Federal Reserve is strongly committed to Jump$tart's mission and to working closely with the local Washington, D.C., chapter--as it does with the other Jump$tart chapters around the country through its Reserve Banks and Branches--to help achieve this mission. Finally, I would like to take this opportunity to express my appreciation of the teachers and staff of Wilson Senior High and the administrators of the Washington, D.C., public school district here today. It is your hard work and dedication to these students that will help guide them toward successful futures. There is no higher nor more worthy objective than preparing our young people for fulfilling and productive lives. To the students of Wilson Senior High, I wish you the best of luck in the future, and I especially want to congratulate the seniors who will be graduating at the end of this term. Lastly, a special thanks to the Greater Washington, D.C., chapter of the Jump$tart Coalition and their partners for their continued support and commitment to furthering the financial education of our youth. Thank you.   4/25/07 Kids Excite-MINT Zone from Seattle Jump$tart   FOR IMMEDIATE RELEASE QUARTER UNVEILING AT SEATTLE CENTER HIGHLIGHTS FINANCIAL LITERACY Coalition to Celebrate April 2007 as Financial Literacy Month SEATTLE  Did you know that by just saving a quarter a day for 20 years in an account earning 8% interest it will grow to almost $4,500? This is one fact that the Jump$tart Washington Coalition hopes to impress on children and their families at todays Quarter Launch at the Seattle Center. This afternoon, Jump$tart will host the Kids Excite-MINT Zone to celebrate the Governors Financial Literacy Month proclamation during the unveiling of Washingtons 25-cent piece. The festival-like atmosphere will be set up on the lawn at Fisher Pavilion from 2:00 p.m. to 5:00 p.m. The activities focus on teaching families about opportunities to learn money management skills. Financial education-related materials will be given away during the event and financial experts will be available to answer questions. The kids zone at todays Quarter Launch will help make saving and investing fun for kids and their families, said Scott Kinney, Jump$tart president and director of communications for the Department of Financial Institutions. We will to encourage kids to save their quarters, rather than running out and spending the 25-cent piece on video games and gumballs. The coalition developed games including: a coloring contest, coin toss, cross word puzzles, a treasure hunt, a photo booth, financial fortune tellers, and a whirl-wind money cube. Partners of the coalition and local businesses donated prizes for the event  including a chance to win $2,500. A new public television program encouraging young entrepreneurs called Biz Kids will be launched at the event. Kids will have an opportunity to have photos taken with a variety of mascots, including actors from the Biz Kids television program. Jump$tart Washington is a non-profit organization that promotes the personal financial literacy of Washingtonians, with a primary emphasis on youth. The coalition is made up of individuals, non-profit organizations, government agencies, and businesses sharing the vision to improve personal financial literacy.   4/25/07 HINOJOSA COLLABORATES WITH FINANCIAL LITERACY GROUPS FOR "FINANCIAL LITERACY DAY FAIR" ON CAPITOL HILL   Tuesday, April 24, 2007 Contact: Elizabeth Esfahani, (202) 225-2531 HINOJOSA COLLABORATES WITH FINANCIAL LITERACY GROUPS FOR "FINANCIAL LITERACY DAY FAIR" ON CAPITOL HILL Fair Caps Off "Financial Literacy Month" Celebrations Washington, DC -Representative Rubén Hinojosa (D-TX) continued to advocate for increased financial literacy at today's fifth annual Financial Literacy Day on the Hill. Hinojosa, along with Sen. Daniel Akaka (D-HI) and Rep. Judy Biggert (R-IL), collaborated with Jump$tart, Junior Achievement, and the National Council on Economic Education for the annual fair that caps off "Financial Literacy Month," which occurs each April. This year, more than 50 organizations were on hand to provide information about programs and activities throughout the nation that empower individuals with the knowledge to make sound personal financial decisions. The purpose of the month is to encourage Americans to take control of their finances and become financially literate during all stages of life. "Today's event is part of an on-going effort to educate my colleagues and their staff about the importance of boosting the financial literacy rates of their constituents," said Hinojosa, who is the co-founder and co-chair of the Financial and Economic Literacy Caucus. "While Americans' buying power is increasing, there are still many who don't understand the basics of saving, securing a loan, or opening a checking account. Fortunately it's never too late to take control of one's personal finances, and the sooner a person begins to learn good saving habits, the better off he or she will be in the future." Earlier this month, Representative Hinojosa introduced H.Res. 273 to support the goals and ideals of "Financial Literacy Month." Specifically, the goals of H.Res. 273 are to provide people with the tools they need to manage their personal finances; expand unbanked Americans' access to the mainstream financial system; engage the financial services industry and show how their products can benefit consumers; and, encourage governments, schools, businesses, and other entities, to observe the month with appropriate programs and activities. "We must remain diligent in our efforts to discover what programs work and find ways to incorporate financial literacy education into the classroom," said Hinojosa. "It will be a detriment to our nation's economic prosperity if so many Americans continue to mismanage their money, credit and debt." In light of increasing debt among Americans and reports of a rising number of mortgage defaults, government officials are taking an increased interest in boosting financial literacy among their constituents. In 2006 alone, credit card debt in America totaled a whopping $825 billion, while the average baby boomer had only $50,000 in savings apart from the equity in their home. At the same time, 10 million households in the United States are considered to be "unbanked," or without access to mainstream financial products and services.   4/25/07 "CONGRESS IS TAKING 'NECESSARY FIRST STEPS' TO FINANCIAL REFORM IN EDUCATION"   "CONGRESS IS TAKING 'NECESSARY FIRST STEPS' TO FINANCIAL REFORM IN EDUCATION" SAID UNITED NEGRO COLLEGE FUND PRESIDENT Minority Education Fund Proposes Measures to Support the Most Vulnerable Population FAIRFAX, Va.-Commending efforts by members of the House of Representatives to address the current student loan scandals, the United Negro College Fund (UNCF), the nation's oldest and most successful minority higher education assistance organization, acknowledges the leadership of Representative Ruben Hinojosa (D-Texas) in taking proactive steps to bring national attention to the issues of financial literacy by introducing House Resolution 273, which supports the ideals and goals of financial literacy month. UNCF President and CEO, Michael L. Lomax, Ph.D., said, "Financial literacy month and day are great ideas. I applaud members of Congress who are bringing this issue to the forefront and offer UNCF's educational expertise to support and promote much needed financial literacy action." H.Res. 273 will help to ensure that individuals are prepared to manage money, credit and debt, and become responsible workers. "Congressman Hinojosa 'hit the nail on the head' with this resolution. H.Res. 273 really brings focus and attention to what is the core of this problem," Lomax continued. "That is, how financial institutions aggressively market and tempt those who are most vulnerable into borrowing huge sums of money that will take years to pay off. Until this susceptible population is equipped with the know-how to navigate the complexities of the loan industry, interest rates, defaults and credit scores, real change cannot be effected." For over 63 years, UNCF has provided financial support for students from low to moderate income families who would otherwise be unable to afford a college education. According to Lomax, that unique know-how in providing financial support to more than 65,000 students at over 900 colleges and universities across the country makes the organization uniquely qualified to take the lead on issues of financial literacy, especially as they affect low-income minority students. According to the National Center for Education, low-income students borrow 73.3 percent of the total cost of their education. Of that group, African Americans borrow on average $23,000 or 84.5 percent of their education, the highest amount among minority students. Hispanics follow close behind, borrowing 79.8 percent of the cost of their education and white low-income students borrow the least amount, 71.7 percent. Since it was reported that officials at a number of universities around the country have gained financially from their relationships with preferred lenders, Congress has begun to shine a light on the industry and its regulatory practices. In an effort to level the financial playing field, UNCF advocates establishing and enforcing a student loan industry "code of conduct" that educates as well as offers guidance and viable alternatives to oppressive debt loads. "Let's be realistic," said Lomax. "Most minority students from low-income families don't have the money on hand to pay for college in full. Borrowing is a reality. But there needs to be responsible measures and practices in place to guide that process." In addition to stricter oversight, UNCF proposes the lending industry fund qualified financial aid counseling for students and their parents in middle and high schools, the development of financial literacy curricula at those crucial junctures and other financial education measures. About UNCF As the nation's oldest and most successful minority higher education assistance organization, the United Negro College Fund's mission is to provide financial support to its 39 member institutions and increase minority degree attainment by reducing financial barriers to college. UNCF institutions and other historically black colleges and universities are highly effective, awarding 25 percent of African American baccalaureate degrees. UNCF administers more than 300 programs, including scholarship, internship and fellowship programs, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 65,000 students at over 900 colleges and universities across the country. ###   4/25/07 THE PRESIDENT'S IDENTITY THEFT TASK FORCE RELEASES COMPREHENSIVE STRATEGIC PLAN TO COMBAT IDENTITY THEFT   FOR IMMEDIATE RELEASE 2007-69 THE PRESIDENT'S IDENTITY THEFT TASK FORCE RELEASES COMPREHENSIVE STRATEGIC PLAN TO COMBAT IDENTITY THEFT Washington, D.C., April 23, 2007 - Attorney General Alberto R. Gonzales and Federal Trade Commission Chairman Deborah Platt Majoras today announced the completion of the President's Identity Theft Task Force strategic plan to combat identity theft. The strategic plan is the result of an unprecedented federal effort to formulate a comprehensive and fully coordinated plan to attack this widespread and destructive crime. The plan focuses on ways to improve the effectiveness of criminal prosecutions of identity theft; enhance data protection for sensitive consumer information maintained by the public sector, private sector, and consumers; provide more comprehensive and effective guidance for consumers and the business community; and improve recovery and assistance for consumers. "Identity theft is a crime that goes far beyond the loss of money or property," said Attorney General Gonzales. "It is a personal invasion, done in secret, that can rob innocent men and women of their good names. The strategic plan we are releasing today is part of a comprehensive effort to fight this crime, protect consumers, and help victims put their lives back together." "Identity theft is a blight on America's privacy and security landscape," said FTC Chairman Majoras. "Identity thieves steal consumers' time, money, and security, just as sure as they steal their identifying information, and they cost businesses enormous sums. The Strategic Plan submitted to the President provides a blueprint for increased federal prevention and protection." Although much has been done to combat identity theft, the specific recommendations outlined in the Strategic Plan - from broad policy changes to small steps - are necessary to wage a more effective fight against identity theft and reduce its incidence and damage. Highlights of the recommendations include the following:   4/25/07 Sammy The Saver Teaching Elementary School Kids   http://www.washingtonpost.com/wp-dyn/content/article/2007/04/14/AR2007041400125_pf.html ...Sam Renick was a financial consultant before creating a rabbit character, Sammy the Saver, aimed at teaching elementary-school kids about money. He does performances for huge audiences and sells products on his Web site, http://www.itsahabit.com.   4/25/07 Jump$tart Coalitions Around the Country   There is a site assiciated with this Item. Click here to visit the site.   http://daily.stanford.edu/article/2007/4/18/theIndieTypistFinancialIlliteracy I am going to share the link in my e-newlsetter as well as with my contacts at the national Jumpstart Coalition, several state coalitions and the FDIC Alliance for Economic Inclusion advisors (I've copied several of them) . Jumpstart Coalitions are concerned with youth financial literacy and the FDIC Alliance for Economic Inclusion is focused on helping the unbanked get banked.   4/25/07 FDIC and Money Smart   There is a site assiciated with this Item. Click here to visit the site.   Community Affairs [mailto:CommunityAffairs@FDIC.gov] Sent: Thursday, April 12, 2007 4:41 PM To: Community Affairs Subject: Money Smart News, an online newsletter from the FDIC for financial educators Dear Money Smart Educator: Thank you for your interest in our Money Smart program and for your efforts in promoting financial education. We are contacting you with one quick reminder about Money Smart News, the FDICs free, online newsletter with news, tips and information about financial education. The publication is posted to the FDIC Web site quarterly and is distributed free of charge to subscribers via e-mail. Each issue highlights recent developments of interest to financial educators, such as updates and enhancements to the Money Smart program and curriculum, as well as proposed or final rules from federal regulators that may have an impact on consumer financial education. The newsletter often provides a look at successful, innovative ways that Money Smart educators are teaching money-management skills to low- and moderate-income individuals, and other groups such as teens. We encourage you to check out current and past issues of Money Smart News at http://www.fdic.gov/consumers/consumer/moneysmart/newsletter/index.html. Subscribing is easy; simply follow the instructions at www.fdic.gov/about/subscriptions/index.html. Subscribe soon to receive the next edition of Money Smart News that is scheduled to be published in mid-April! As always, if you have questions or suggestions regarding the FDICs Money Smart program, please contact your regional Community Affairs Officer   4/25/07 Practical Money Skills Summit 2007   There is a site assiciated with this Item. Click here to visit the site.   Join Jump$tarts Laura Levine and a distinguished panel as they discuss financial literacy in our nations schools. A live, free, two-hour Web cast from the Federal Reserve Bank of Chicago. Financial Literacy & Education Summit 2007, moderated by personal finance expert Jean Chatzky. Tuesday, May 1, 2007, 12:00pm - 2:00pm CDT On May 1, 2007, the Federal Reserve Bank of Chicago (part of the U.S. Federal Reserve System) and Visa USA will co-host a free, two-hour online forum that brings together leading educators, policy makers and representatives from the non-profit and private sectors to discuss whether or not financial education should be a high school graduation requirement and to share best practices from around the nation. The summit will be broadcast live on the Internet and will be available after the summit online, anytime, for your viewing. To learn more about the summit and to register to receive your free streaming video instructions and entrance to the summit viewing page, visit www.practicalmoneyskills.com/summit2007 Panelists scheduled to appear: Jean Chatzky Personal finance expert and best-selling author Laura Levine Executive Director, Jump$tart Coalition for Personal Financial Literacy Richard W. Riley 6th U. S. Secretary of Education (1993-2001) Richard Cordray Ohio Treasurer of State William Seidman Chairman Federal Deposit Insurance Corporation (FDIC) (1985-1991) John Hope Bryant Founder of Operation Hope and author of Banking on our Future Todd Rokita Indiana Secretary of State Steven Malin Senior Education Specialist, Federal Reserve Bank of New York Chauncey Veatch 2002 National Teacher of the Year   4/25/07 Pennsylvannia Jump$tart Event for Kids   There is a site assiciated with this Item. Click here to visit the site.   Dates & Times Tuesday June 12 - 12:00 p.m. to 5:00 p.m. Wednesday June 13 - 8:00 a.m. to 3:30 p.m. Location Harrisburg Crowne Plaza 23 North Second Street Harrisburg, Pennsylvania 17101 717.234.5021 $119 for nights of June 11 and 12 Registration Available soon at www.moneysbestfriend.com Deadline to register is June 4 Cost $75 Registration Fee fully refundable upon completion of the symposium and submission of a feedback survey Throughout Pennsylvania there are hundreds of resources to help people learn to better manage and protect their money. Community-based organizations, churches, civic groups, senior centers, libraries, cooperative extension offices, consumer credit agencies, youth initiatives, family savings account providers, entrepreneurship assistance programs, insurance companies, financial institutions and others often use financial education as one of many tools to achieve their goals. Some programs are comprehensive and sophisticated. Others are informal and customized. Such variation is critical because people have different learning styles, unique values and diverse needs throughout their lifetimes. The Pennsylvania Office of Financial Education works to increase the quality and availability of financial education across the Commonwealth. This symposium is designed to begin to identify a statewide community of organizations that offer any kind of financial education; to share information among peers with regard to effective strategies in delivering financial education; and to identify common challenges among those who incorporate financial education in their work. Sessions are being planned to consider: how for-profit and non-profit entities can collaborate how to market financial education how to effectively teach adults where to find high-quality, low-cost curriculum and much, much more Please save the dates and plan to join your peers for this important event. Keep an eye out for details. If you have questions, please contact René Bryce-Laporte at 717.783.2498 or rblaporte@state.pa.us.   4/25/07 Pinellas County Schools 2007   There is a file assiciated with this Item. Click here to view the file.   Pinellas County Schools 2007 from the office of Superintendent Dr. Clayton M. Wilcox. VOL. I, NO. 1 w w w . p c s b . o r g perspective The following publication is an effort to provide a flow of accurate and timely information   4/25/07 Chairman Ben Bernanke from Federal Reserve Bank on Kids and Finances   Bernanke: Kids Must Learn Finances By THE ASSOCIATED PRESS Published: April 25, 2007 Filed at 10:48 a.m. ET WASHINGTON (AP) -- It might be a hard sell to kids daydreaming about prom, summer vacation or hanging with friends, but Federal Reserve Chairman Ben Bernanke tried anyway: Take time to learn how to handle money. 'Although financial matters are probably not at the front of your minds today, the day will come when you will be responsible for managing your own or your family's budget or when you find that you need to save to get the things you want -- a college education, a new car or even your own home,' Bernanke said Wednesday in remarks prepared for students at Wilson Senior High School. An explosion of financial products means that people have to be increasingly more financially sophisticated, he pointed out. That also means students need to understand the fundamentals of budgeting, banking, saving and investment, Bernanke said. 'It is also essential that you know how to use -- properly and responsibly -- the many types of credit that will be at your disposal, such as credit cards,' he added. In pushing this cause, Bernanke picked up one of the passions of predecessor Alan Greenspan. A nationwide survey last year found that on average, high school seniors got a flunking grade when it came to financial literacy. They answered correctly only 52.4 percent of questions about personal finance and economics. The survey, sponsored by the Jump$tart Coalition for Personal Financial Literacy, was released by the Federal Reserve. The dismal results of the survey underscored the need for students to improve their financial know-how. 'As you think about your future, don't forget the importance of financial literacy,' Bernanke told the students. In his remarks, he did not talk about the future course of interest rates in the United States or the state of the economy. Many economists believe the Federal Reserve next