New Website Promotes Financial Literacy

2 mins read

financial_factsThe Financial Literacy and Education Commission on Tuesday announced the launch of its redesigned financial literacy education website, which now has enhanced interactive features to provide more resources to individuals seeking information that could assist with their personal financial decisions.

As the nation recovers from the most severe financial crisis since the Great Depression, it is critical every aspect of the U.S. financial system is strengthened, Treasury Deputy Secretary Neal Wolin said.

“That means not only strong reforms and consumer protections, but also improved financial literacy and access,” he said. “Financial education and access is a priority for this administration, and we’re pleased to provide this critical resource to help Americans find free, reliable and unbiased information that can help inform their daily financial decisions and plan for the future.”

The new website offers financial information from the 21 federal agencies, departments and bureaus that comprise FLEC, including how to plan for different life events that have financial implications, such as birth or adoption of a child, home ownership, or retirement. Users will also be able to find information targeted to their personal or professional situation. The site also provides money-management tools, including a financial-savings calculator, worksheets for establishing a household budget and a college-preparation checklist.

FLEC was tasked to develop a national financial education website along with a hotline (1-888-My Money) and a national strategy on financial education. The commission is chaired by the secretary of the treasury and made up of officials from 20 additional federal agencies, including the Office of the Comptroller of the Currency; the Office of Thrift Supervision; the Federal Reserve; the Small Business Administration; the Social Security Administration; and the White House Office of Public Engagement.

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