main menu page title feature menus content footer
My Florida C F O

CFO's Initiatives

Stay Connected

Follow the
Department of
Financial Services

Sign up for the CFO's
weekly newsletter!

Press Release

News   RSS RSS   Press Office   Archive

CFO Atwater Kicks Off Financial Literacy Month

4/1/2015

Contact: Ashley Carr
(850) 413 – 2842
 
TALLAHASSEE, Fla. – Today begins Financial Literacy Month, and in an effort to raise awareness about the importance of personal financial management skills, CFO Atwater today highlighted a set of alarming statistics about the current lack of financial management knowledge across Florida and the nation.
 
“To be financially literate is to understand the fundamentals of money management; to understand the necessity of balancing a budget and the value of a dollar,” said CFO Atwater. “Financial literacy is vital to everyone’s financial success, and regardless of what life stage you’re in, there are always opportunities to grow and to expand your financial education.”

Did you know that…
 
• 51% of Floridians do not have ‘rainy day’ funds.

• 60% of Floridians did not compare offers or collect information from more than one company when shopping for credit cards.

• As a nation, we spend approximately $2 per person on financial education, but spend $54 per person on financial services marketing in a year.

• 61% of U.S. adults do not have a budget or keep close track of their spending.

• Even though most people don’t budget, 71% of Americans stated that they have financial worries, and 44% of them worried most about not having enough savings.

• 1-in-5 U.S. students do not meet a basic level of financial literacy.

• In one study, U.S. 15-year-olds ranked 9th out of 13 countries participating—statistically tied with Russia.
 
In an effort to turn the tide on these statistics, CFO Atwater will share tools and educational materials available to all Floridians through the Department of Financial Services throughout the month of April. Through financial education efforts, all Floridians can empower themselves to make better financial choices and begin a path toward long-term financial success.
 
To learn more about the Department of Financial Services, visit www.MyFloridaCFO.com. To learn more about the Department’s financial literacy initiatives, visit www.MyFloridaCFO.com/YMM/.
 
# # #
 
Chief Financial Officer Jeff Atwater, a statewide elected official, oversees the Department of Financial Services. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away businesses, and providing transparency and accountability in spending. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).