News Release
Wednesday, February 20, 2008
Contact
Lyn Peters, Director of Communications
PH (360) 902-8731 lpeters@dfi.wa.gov
FOR IMMEDIATE RELEASE:
Governor Gregoire Proclaims February 24- March 2, 2008 As Washington Saves Week, Partners Offer Activities, Training
OLYMPIA - Governor Chris Gregoire has declared the week of February 24 - March 2, 2008 as Washington Saves Week. The Governor is encouraging public and private organizations to work together to illustrate the importance of saving money.
“While Washington’s economy remains strong, it’s still important that Washingtonians set aside money for rainy days,” Governor Gregoire said. “I encourage organizations from both the public and private sector to make a commitment to help educate residents about the importance of saving money.”
The Washington State Department of Financial Institutions (DFI), the Washington Society of CPA’s (WSPCA), and Consumer University have answered the Governor’s call of working together.
The partners are offering free financial literacy training to high school teachers across the state. Letters explaining the free training program have been sent to nearly 1,700 high school instructors.
“This is a timely opportunity for teachers and students in Washington State,” Consumer University Program Administrator Alicia Diefenbach said. “At a time when most parents are struggling to manage their personal finances and save for retirement, students have their best shot at getting a financial education in their classrooms.”
“Many of our students are not receiving adequate financial education,” added WSCPA Financial Education Manager Amy O’Donnell. “Providing teachers with access to training and resources for the classroom is key to supporting their efforts in creating well prepared adults.”
“Participating in the Washington Saves Week is a great way to engage students,” O’Donnell added, “and give them information so they can make better financial decisions now and in the future.”
High schools interested in the program should contact Amy O’Donnell at WSCPA by calling 800.272.8273 or by e-mailing aodonnell@wscpa.org, Alicia C. Diefenbach of Consumer University at ahaus@consumeruniversity.com or Lyn Peters at DFI lpeters@dfi.wa.gov or 360.902.8731.
For more information about Washington Saves Week, visit http://dfi.wa.gov/wa_saves. For more information about America Saves Week, visit http://www.americasaves.org/national/saves_week.asp.
About DFI
www.dfi.wa.gov ▪ 360.902-8700 ▪ 877.746-4334 ▪ In Espaņol 888.976.4422
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders, and securities brokers and dealers. The department has won numerous awards for its financial literacy and outreach programs developed to protect consumers from financial fraud. In addition to posting information about licensees and administrative actions, the DFI’s Web site features consumer tips on a variety of financial fraud-related topics.
About the Washington Society of CPA’s
www.wscpa.org ▪ 800.272.8273
With more than 8,600 members, the Washington Society of Certified Public Accountants is the only organization in the State of Washington dedicated to serving the professional needs of CPAs, educating consumers about CPAs and the services they provide, and encouraging students to study accounting and enter the profession.
About Consumer University
www.consumeruniversity.com ▪ 206.295.2189
The mission of Consumer University is to provide high quality Investor and Financial Education programs to the customers of financial institutions on behalf of non-profit associations, regulatory agencies, and financial service providers. In doing so, we help to create savvy consumers who understand how to negotiate financial transactions that best benefit their needs, avoid financial crimes, and re-enforce the importance of consumers partnering with Financial Institutions to achieve their financial goals.
Highlights Of Washington Saves Week Include:
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Saturday, Feb. 23, 2008: Build Wealth, Not Debt - Free Financial Fair
10 a.m. - 3 p.m. at Bates Technical College in Tacoma. 1101 S. Yakima Ave. Call 253.383.3056 ext. 118 for more information. -
Monday, Feb. 25, 2008: Military Saves Financial Fair
Starting at 8 a.m. at Bremerton Navy Base
The Department of Defense has partnered with the America Saves Campaign, and DFI, to encourage and educate active and reserve military personnel, their dependents, retirees, and civilian employees about the importance of saving. -
High School Essay Contest - Washington Society of CPA’s
The Washington Society of CPA’s is sponsoring an essay contest for high school students. Students have been asked to write about their money management stories and their money smart tips. The top 100 essay writers will receive a $25 Savings Bond. For more information, e-mail aodonnell@wscpa.org or call 800.272.8273.
Savings Tips:
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Pay yourself first.
Make it a habit to pay yourself first each month. Set money aside for savings before you spend it. Aim to save approximately 10% of your income each month. -
Save the change in your pocket.
You’ll be amazed at how much your loose change adds up to each month. At the end of each month, set aside your loose change for savings. -
Look for creative ways to cut costs.
For example, pack your lunch. Spending $8 per day for lunch totals more than $40 a week, $160 a month, and $2,080 a year! If you must eat out, try to limit it to once or twice per week. Look on the internet for other creative ideas to help you cut costs. -
Research the different savings vehicles available.
Financial Institutions offer a variety of savings vehicles and each one has its advantages and disadvantages. Research the different kinds of savings accounts available and find one that suits your needs the best. -
Consider investing your money.
Investing your money can be risky but can also have high return. Remember, the greater the potential return, the greater the risk.
DFI has several publications available that can help start you down the path of investing wisely. Request DFI’s free publications online at http://www.dfi.wa.gov/sd/investor_education.htm or by calling 1.877 RING DFI.
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