Wealth of Knowledge Available During Money Smart Week
A House resolution introduced this week by state Rep. Andrea Schroeder promotes sound financial planning and being “money smart,” and will be adopted to declare Money Smart Week in Michigan.
Money Smart Week, coordinated by the Federal Reserve Bank of Chicago, will run from March 30 through April 6. This week is the start of a full month of non-solicitous financial literacy education across Michigan during April.
The program is designed to help consumers better manage their personal finances through educational programming offered to all demographics and levels of knowledge and income and covers all facets of personal finance
"This week symbolizes the importance of increasing participation in financial literacy programs to help reduce debt and allow for a more stress-free way of living or an earlier, more comfortable retirement,” said Schroeder, of Independence Township, who serves as vice chair of the House Financial Services Committee.
Michigan has participated in Money Smart Week for 17 years through the collaboration and coordinated effort of hundreds of organizations including financial institutions, non-profit groups, government entities, schools and libraries.
In 2018, the Michigan Money Smart celebration hosted over 550 events and supported tens of thousands of participants of all ages with money management tips and financial service education.
Michigan credit unions are very active in financial education all year long and during Money Smart week. In addition to individual credit union financial education activities, Michigan credit unions are sponsoring (via the MCUF) the following two statewide initiatives in conjunction with Money Smart Week.
During Money Smart Week, will be the Money Smart Kids Read program, where 8,000 families attending story times at hundreds of public libraries throughout the state will read and be provided with a financial literacy book.
Also during the campaign will be the High School Personal Finance Challenge, wherein every Michigan teacher will have the opportunity to have their students hone their personal finance knowledge and participate in the online qualifying round of the Personal Finance Challenge.
The top teams from across Michigan will be invited to participate in a case study presentation during the State Finals competition at the Federal Reserve Bank of Chicago-Detroit Branch on April 15 and these students will also participate in a financial reality fair. This is facilitated by the Michigan Council on Economic Education.
Last year, the Michigan-based Chelsea High School took first place in the national Personal Finance Challenge.