Yesterday the Financial Literacy and Education Commission (FLEC) announced the launch of its redesigned financial literacy education website, Mymoney.gov. The new site has enhanced interactive features and utility to provide more resources to Americans seeking information that can inform their personal financial decisions. President Obama recently proclaimed April to be National Financial Literacy Month, and this enhanced online offering is just one of the many steps the Administration is taking to expand financial education and access for the future.
“As America recovers from the most severe financial crisis since the Great Depression, it’s critical that we strengthen every aspect of our financial system. That means not only strong reforms and consumer protections, but also improved financial literacy and access,” said Treasury Deputy Secretary Neal Wolin. “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 MyMoney.gov creates an online point of access to financial information from the 21 Federal agencies, departments and bureaus that comprise the FLEC. Users will be able to find information about how to plan for a host of life events that have financial implications, such as birth or adoption of a child, home ownership, or retirement. They can also find information targeted to their personal or professional situation. For instance, the site includes resources for teachers, service members, women, parents, youth, employers, and more. The site also provides money management tools including a financial savings calculator, worksheets for establishing a household budget and a college preparation checklist, among others. The site is also available in Spanish. The effort to make the website as helpful and useful to Americans will be ongoing, with improvements expected to continue.
The web site was made possible by the Financial Literacy and Education Commission, which was established under the Fair and Accurate Credit Transactions Act of 2003. The Commission was tasked to develop a national financial education web site along with a hotline (1-888-My Money) and a national strategy on financial education. It is chaired by the Secretary of the Treasury and made up of the heads of 20 additional federal agencies: the Office of the Comptroller of the Currency; the Office of Thrift Supervision; the Federal Reserve; the Federal Deposit Insurance Corporation; the National Credit Union Administration; the Securities and Exchange Commission; the Departments of Education, Agriculture, Defense, Health and Human Services, Housing and Urban Development, Labor, and Veterans Affairs; the Federal Trade Commission; the General Services Administration; the Small Business Administration; the Social Security Administration; the Commodity Futures Trading Commission; the Office of Personnel Management and its newest member, the White House Office of Public Engagement. The Commission is coordinated by the Department of the Treasury’s Office of Financial Education.
For details, go to MyMoney.gov
