For additional details, contact:
Amy Lewis
Strategy Communications
Phone: 619-713-0622
Email: Amy@scpublicrelations.com

FINANCIAL LITERACY EDUCATION
What does it mean to you?

SAN DIEGO, November 19, 2007 – Financial literacy Education: what does that mean? Nan Pace, Director of Education at Debt-Free America, a non-profit community service organization offering confidential credit counseling, debt management programs and financial literacy education to consumers of all ages and income levels nationwide, defines it as: “The knowledge and skills necessary to effectively manage one’s personal finances and make responsible financial decisions.”

Last month, the California Jump$tart Coalition held its annual Fall Members Networking Meetings in both San Francisco and Burbank. The California Jump$tart Coalition is a volunteer based not-for-profit 501(c)(3) organization that is affiliated with the National Jump$tart Coalition for Personal Financial Literacy. The National Jump$tart Coalition’s mission is to improve the personal financial literacy of California’s youth by helping the personal finance education community become more connected, effective, and powerful by supporting the implementation of personal finance education at every level from K-12th Grades. Nan Pace was not only in attendance at the meetings, but Debt- Free America strives to educate each one of their clients on how to become financially literate, but they understand the importance of implementing this curriculum on a state, and national level.

About Personal Finances and Financial literacy Education
Personal bankruptcies fell 37.9 percent from 2005 to 2006, but Chapter 7 filings for the quarter ending June 30, 2007 was the highest since the new bankruptcy laws went into effect in October of 2005. The fastest growing group filing was people ages 18 – 24. The need to educate consumers, especially our youth, on personal money management is increasingly apparent. Young adults just starting out on their own are lacking the basic skills on how to balance a checkbook, plan a budget or manage credit cards.

So whose responsibility is it to teach personal management skills: a parents’? Our schools’?

Currently, high schools/colleges/universities have no formal financial literacy education curriculum nor are students required to pass any financial courses of study in order to graduate. Thankfully, the California Jump$tart Coalition is working to change this lack of vital education.

Debt-Free America works hard on a daily basis to educate individuals about their finances – and how not to get into trouble. For more information about the California Jump$tart Coalition, Financial Literacy and personal money management education, Debt-Free America is able to help.

WHO: Debt-Free America; Nan Pace, Director of Education
WHAT: The Importance of Financial Literacy
WHEN: Interviews are available immediately and ongoing

Debt-Free America is a 501(c)3 non-profit, community service organization offering confidential and professional credit counseling, debt management programs, and financial education to consumers nationwide. Debt-Free America is dedicated to providing FREE services to help financially distressed families and individuals effectively manage their personal finances. The Board members and operations staff have a long-term commitment to helping anyone in debt crisis, and even those not in a debt crisis. Debt-Free America has been in the business since 1997 and is now serving over 17,500 clients nationwide.

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