Former RI Auditor General, Ernest Almonte delivers welcome message to conference attendees.

Over 100 Attend 2010 Personal Financial Capability Conference

September 24, 2010 – Providence, RI – Over one hundred attendees convened at the RI Convention Center for a full day of free personal financial literacy professional development at the Rhode Island Jump$tart Coalition 2010 Personal Financial Capability Conference, presented by CollegeBoundfund.

Teachers, representing 19 high schools, and social service professionals representing over 20 agencies that serve low-to-moderate income adult clients attended the conference. 20 financial education experts volunteered their time and talent to update attendees on topics including budgeting, credit management, debt reduction and recent changes to financial laws.  Click here for conference program (.pdf format)

RI Jump$tart Coalition executive director, Jim Hedemark stated, “This conference is as much about providing continuing education as it is about expressing appreciation for the teachers and social service professionals who are on the front lines of financial literacy.  The benefit of the train-the-trainer approach is the multiplier effect that will occur throughout the Ocean State as attendees carry financial capability forward to Rhode Islanders who are struggling to emerge from this tough economy.”

The conference began with a welcome address from former Rhode Island auditor general Ernest A. Almonte.  His speech, “Financial Literacy Leadership: A Call to All,” drew from his longstanding personal commitment to financial literacy education and his recent tenure as chairman of the American Institute of Certified Public Accountants (AICPA), that allowed him to travel the United States and abroad, encouraging his colleagues to take leadership positions at the local, state and national levels in support of financial literacy.

Keynote speaker Phil Martin, assistant for financial education and student aid at the U.S. Department of Education underscored the Obama Administration’s commitment to personal financial capability as carried out through the Department under the leadership of Secretary Arne Duncan.One initiative that forwards this commitment is the National Financial Capability Challenge.

The U.S. Department of Treasury released a statement on September 13, 2010 announcing the Challenge:

“Today, the Obama Administration marked back to school season by emphasizing the importance of financial education and launching its National Financial Capability Challenge for the 2010-11 school year. The Challenge is a voluntary online exam and classroom toolkit that helps educators teach high school students about saving, budgeting, investing, the safe use of credit, and other important skills critical to developing strong financial knowledge and capability.”

"We know we have to educate our way to a better economy, and that's why President Obama has declared that by 2020, we will once again have the highest proportion of college graduates in the world," said Secretary of Education Arne Duncan, "We also know that a lack of financial literacy is a major roadblock on the path to college access and success for too many students.  Through the Challenge, we're encouraging schools and teachers across the country to help make sure their students have the tools they need to make smart financial decisions for themselves, their families, and their communities – whether about investing in higher education, or the many other choices these young people will face."

The Challenge can be accessed online at:www.challenge.treas.gov

The conference was made possible by and is a function of ongoing initiatives with partner organizations.

Rhode Island Youth Personal Financial Education Program (RIFI)
The RIFI program of the RI Jump$tart Coalition is a year-long program that engages in partnerships with 10 Rhode Island public high schools in an effort to increase the quantity and quality of personal financial education at the schools.Teams are formed at each school comprised of a lead teacher, an administrator and volunteer financial professionals who work together to enhance personal financial education curricula and devise strategies to increase student participation in personal finance classes (electives at most schools).RIFI includes direct teacher training provided through opportunities such as the 2010 Personal Financial Capability Conference.

RIFI is supported by the Council for Economic Education through funding from the U.S. Department of Education Office of Innovation and Improvement via the Excellence in Economic Education (EEE) program appropriation by the United States Congress.Required EEE local matching funds have been provided by the Rhode Island Higher Education Assistance Authority, the Rhode Island Student Loan Authority and the United Way of Rhode Island through the Financial Stability Program.

About the RI Jump$tart Coalition
The Coalition (founded in 2004) is a nonprofit organization comprised of academic, business and civic organizations with the goal of increasing personal financial capability of Rhode Islanders.Additional information about the Coalition can be found at:www.rijumpstart.org