Financial literacy: Key to improving quality of life
I'm pleased to
have the opportunity to kick
off Bankrate.com's yearlong
financial literacy series. As
U.S. treasurer, I have the privilege
of being able to address groups
across the country and to talk
about financial education, and
to tell them the good news about
our strong economy. The latest
reports show that 7.2 million
jobs have been created since
August 2003, which means our
economy is growing faster than
all the other major industrialized
countries combined. Our economy
has added jobs for 40 straight
months, and the unemployment
rate is 4.5 percent, below the
average of the last four decades.
The president and his economic
advisers, including Secretary
Paulson, remain committed to
promoting policies that will
keep our economy growing and
raise the standard of living
for future generations.
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It's wonderful
to have strong economic growth
and low unemployment, but we
also want to help Americans
make the most of what they've
earned. That is why the Treasury
Department is focused on improving
financial literacy throughout
our country. One of the ways
we're working to accomplish
this goal is through the Financial
Literacy and Education Commission.
The commission brings together
representatives from 20 agencies
across the federal government
to exchange ideas and work together
in ongoing financial education
efforts.
We've also partnered
with the public and the private
sectors to promote the importance
of financial education and to
help bring together resources
to better serve our citizens.
Last year, the Financial Literacy
and Education Commission released
The National Strategy for Financial
Literacy. The Commission has
also developed a financial education
Web site and toll-free hot line,
in English and Spanish -- www.MyMoney.gov
and (888) MyMoney.
Bankrate's senior reporter Holden Lewis asked Ms. Cabral the following questions about the importance of financial literacy and how our nation is addressing the topic for its citizens.
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