State Announces April as Financial Literacy for Youth Month
SACRAMENTO - The California Department of Financial Institutions proclaimed the month of April as "Financial Literacy for Youth Month." The financial literacy campaign is a joint effort of state and federal government agencies and private sector organizations. The campaign is an opportunity to draw attention to the need for young adults and children to obtain training in such personal finance basics as money management, savings and investing and use of credit.
April 24 marks the fifth annual National Teach Children to Save Day, sponsored by the American Bankers Association's Education Foundation and committed to teaching young people the lifelong habit of saving. Bankers will visit thousands of schools on April 24 to help children learn the value of saving money. "These children will eventually become customers of our state-chartered financial institutions," said Donald R. Meyer, Commissioner.
As part of a major initiative by Governor Gray Davis and the Business, Transportation and Housing Agency to increase financial literacy in schools, DFI's goal is to raise the level of awareness and provide children with the basic concepts of saving and investing to prepare for the future.
The Department launched a new Kids Page on their Web site www.dfi.ca.gov with information on earning and saving money, investing, financial literacy programs and more. "We are trying to keep the information practical - how to save for a new bike, or for larger things like a college education," added Commissioner Meyer.
The Department of Financial Institutions is responsible for regulating the safety and soundness of California's state-chartered financial institutions.