April 2002 is National Financial Literacy for Youth Month

RELEASE: March 2002
CONTACT: Paul Richard, RFC, ICFE Executive Director

San Diego, CA.  The nonprofit Institute of Consumer Financial Education (ICFE), of San Diego, CA., a partner in the national Jump$tart Coalition for Personal Financial Literacy, is pleased to join with other leaders in the finance industry to sponsor Financial Literacy for Youth Month in April 2002. “This nationwide, month-long, effort of the national Jump$tart Coalition, its statewide coalitions and partners, will draw attention to the need for children and young adults to master the basic skills in personal finance of spending, saving and the wise use of credit,” said Paul Richard, RFC ICFE executive director. “The key is for parents to become actively involved their youngsters financial education and begin with establishing the difference between needs, wants and wishes,” he added.

The ICFE has created on ”Children and Money” section its Web site (www.icfe.info) a helpful “Money Skills Kit” for parents which includes “10 Commandments of Personal Finance to Teach To
Young People.” It also has a tip sheet for parents and grandparents on how to teach children and young adults the value of money. There are 18 ideas adults can implement with their children, almost immediately, including a helpful approach to subject of allowances.

Another feature on the ICFE Web site is especially for youngsters. As part of Financial Literacy for Youth Month, youths will be able to print out or download both a “Young Spender's Profile” and a “Credit Risk Profile” to better help them understand how a potential lender might view them.

The "Money Skills Kit" is available for parents, grandparents, teachers and consumer educators and interested others who may desire a printed version, or who may be without Internet access may receive a copy by return mail by sending $1 and a self-addressed, double stamped envelope (with 60 cents postage) to:
ICFE "Money Skills Kit"
PO Box 34070
San Diego, CA 92163-4070