Fed Launches Personal Financial Education Campaign

The Federal Reserve System believes educated consumers can play a key role in promoting a healthy economy. But with a constant flow of new products and changes hitting the financial markets, consumers are hard-pressed to keep up. Statistics show that financial stress is continuing to take a toll, as evidenced by the growth in household debt (relative to income), delinquent payments on bills and even bankruptcies.

Starting this spring, the Fed is stepping up efforts to lend a helping hand with the launch of "There's a Lot to Learn about Money," a nationwide personal financial education campaign.

"No matter who you are, making informed decisions about what to do with your money will help build a more stable financial future for you and your family," says Fed Chairman Alan Greenspan. He is playing a key role by starring in public service announcements airing on English and Spanish television.

The St. Louis Fed is doing its part to promote financial literacy through:

• a personal financial education web site for consumers, which you can find via our national economic education site, www.federalreserveeducation.org.
• collaboration with John Bryant, founder of Operation Hope, to bring his personal financial education classes to St. Louis area children, and participation by Bank President Bill Poole in the June 18 kick-off event at the Herbert Hoover Boys & Girls Club;
• publications and meetings that encourage bankers to participate in personal financial education projects, such as the state "Bank at School" programs; and
• volunteer efforts by Fed employees in various programs, including Gateway to Financial Fitness in the St. Louis area, designed for low-income adults; local Jump$tart Coalition events, which focus on youth education; and the International Institute of St. Louis' banking and credit series for immigrants.