Governer Carcieri speaks at the 2006 Financial Literacy Month proclamation ceremony at the State House.
Contact: Jim Hedemark
401.385.9411 | email
April is Financial Literacy Month Governor, Legislature Issue Proclamations at Ceremony
RI Jump$tart Coalition Plans Several Activities During April
April 4th, 2006 (State Room, RI State House) - April will be proclaimed Financial Literacy Month in Rhode Island at a ceremony organized by the Rhode Island Jump$tart Coalition for Personal Financial Literacy (RIJ$C).
Governor Carcieri has issued the following statement:
"In the 21st century, financial literacy is more important than ever. Everyone needs to know how to read and write, and everyone needs to know how to manage their money. In this era of automatic teller machines, online banking and plentiful credit, we must be careful to provide our young people with the financial skills necessary to excel. That's why I have proclaimed April 2006 as Financial Literacy Month in Rhode Island. I want to thank the Rhode Island Jump$tart Coalition for their efforts to help our state's youth learn how to become financially responsible and independent."
For the second year, the RIJ$C has organized a public awareness campaign encouraging Rhode Island citizens to pay special attention to their personal finances.
RIJ$C President of the Board of Directors, Claudia M. Kerbel offers, “While we are working to support and encourage educators who deliver personal financial education lesson plans, we also hope that parents and other adults will take the opportunity to speak with young people about the importance of sound personal financial behavior during April and throughout the year.”
The Gubernatorial and legislative proclamations cite disturbing trends that characterize United States personal financial behavior. Among these are:
- 40% of Americans say they live beyond their means;
- In 2005, savings rates dipped to minus 0.5 percent, something that hasn't happened since the Great Depression in 1932 and 1933;
- Personal bankruptcies nearly doubled in the past decade;
- Of the 4,000 students who took the Jump$tart Coalition national personal finance survey in 2004, 65.5% received failing scores
The following activities are scheduled as Financial Literacy Month Activities:
Financial Literacy Month Proclamation Ceremony
Tues. April 4th, 2006 | 3:30 p.m. | State Room, Capital Building, Rhode Island
Scheduled Speakers
- Paul J. Tavares, General Treasurer (welcoming comments, emcee)
- Donald L. Carcieri, Governor
- Charles J. Fogarty, Lieutenant Governor
- Matthew A. Brown, Secretary of State
- Sen. Frank T. Caprio, (proclamation sponsor)
- Rep. Steven Costantino (proclamation sponsor)
- Ralph Mollis, Mayor of North Providence (recognize RI LifeSmarts champions)
- Claudia M. Kerbel, President RIJ$C Board of Directors
National Youth Financial Literacy Survey Release
Wed. April 5th, 2006 | 9:00 a.m. | Federal Reserve Board of Governors, Washington D.C.
The National Jump$tart Coalition will announce the findings of the 2006 bi-annual, national survey of 4,000 high school seniors’ financial literacy. For the first time, Rhode Island participated in this survey and will receive state-specific results from ten RI high schools who anonymously conducted the survey. The study is conducted by Lewis Mandell, Ph.D., Professor of Finance & Mangerial Economics SUNY Buffalo.
RI LifeSmarts Champion Team to National Competition
April 22-25, 2006 | Philadelphia, PA
The North Providence H.S. 2006 LifeSmarts State Champion Team will represent Rhode Island, competing against teams from throughout the United States for the national LifeSmarts title.LifeSmarts teams demonstrate knowledge of several consumer topics including personal finance.
ABA Education Foundation “Teach a Child to Save Day”
April 25th, 2006 | Rhode Island
Kimberly A. Reed, Senior Advisor to the Secretary of the United States Treasury will visit Rhode Island to promote and participate in the American Bankers Association (ABA) Education Foundation National Teach Children to Save Day to spotlight the importance of teaching our nation's youth about saving money. Every April bankers make presentations to students in grades K-12 about budgeting, saving, recognizing needs and wants and how interest makes money grow.The RIJ$C will schedule Reed to visit a Rhode Island classroom (TBA).
2006 RIJ$C Financial Literacy Leaders’ Luncheon
April 25th, 2006 | Noon | Roger Williams Park Casino
The RI Jump$tart Coalition will host a luncheon thanking supporters of the Kid$ & Money Annual Fund campaign and program supporters.One hundred guests are expected to receive a keynote address by Kimberly A. Reed, Senior Advisor to the Secretary of the United States Treasury.
The Rhode Island Jump$tart Coalition (founded in 2004) is an coalition of dozens of Ocean State and New England region businesses, community organizations, educational institutions, government agencies and officers. The coalition¹s mission is “to increase the financial literacy of individuals in Rhode Island.” The coalition¹s website is www.rijumpstart.org
In 2006, for the first time, Rhode Island high school seniors participated in the national Jump$tart Coalition personal financial literacy survey that measures teenagers¹ knowledge of personal financial literacy topics. Rhode Island high school seniors answered 48.8% of the questions correctly. The national average was 52.4%. For more details on the national survey, please click here.
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