With the hope of encouraging Pennsylvanians to better understand their personal finances, Governor Tom Corbett has declared April to be "Financial Education Month" in the state.
The administration believes a basic financial education is essential to ensuring that Pennsylvanians of all ages are prepared to manage money, credit, investments, and debt.
Pennsylvania Department of Banking is looking to both celebrate and draw attention to public and private education efforts. "One of our goals is to empower people. In the run up to the economic downturn, we saw a lot of very hardworking people make poor decisions with credit cards, mortgage financing, and home purchases," said Department of Banking spokesperson Ed Novak.
The governor believes in order for Pennsylvanians to fully recover from the economic slide, they need to be responsible for better educating themselves. "It's clear to us that as a starting point for getting ourselves out of this economic downturn, Pennsylvanians need to increase their financial literacy to help them navigate what is becoming an increasingly complex financial marketplace," said Novak.
Several initiatives aimed at promoting financial education and literacy are being promoted by the state. April 24 is "Teach Children to Save Day" at many Pennsylvania banks, "National Credit Union Youth Week" will run April 22-28, and "Your Money's Best Friend" provides consumers with a trusted source of information regarding personal money management issues.