Contact:  Nancy Schopf (920) 437-8704 or Bobbi Lison (920) 272-8234

FOR IMMEDIATE RELEASE
 
Green Bay, Wis.¬- (Sept. 26, 2008) – Oct. 12-18, 2008 is the third annual statewide financial literacy campaign, the first of its kind in the nation and second year for the Green Bay Area, as part of Money Smart Week. The kickoff for the week’s events is Tuesday, Oct. 14, 5:30 p.m. to 6 p.m., Phoenix Room, Student Union, University of Wisconsin-Green Bay. Money Smart Kids (middle & high school categories) for the Greater Green Bay Area for 2009 will be introduced at the kickoff, along with other dignitaries. Honorary Chairperson for Money Smart Week Green Bay is Charlie Schrock, president, Wisconsin Public Service Corporation.

A complete calendar of events for the Green Bay Area for the week of Oct. 12-18 is available at www.moneysmartWI.org.

Money Smart Week Wisconsin is a creation of the Governor’s Council on Financial Literacy in cooperation with the Federal Reserve Bank of Chicago. Governor Jim Doyle created the Council; First Lady Jessica Doyle is its honorary chair. Money Smart Week is based on an idea created by the Federal Reserve Bank of Chicago with the goal of helping families, students, homeowners, businesspersons, employees and other community members expand their opportunities through financial literacy. The week is set up to provide workshops, seminars, programs, events and other activities for all ages aimed at improving financial literacy.

Why Money Smart Week? With a soaring amount of personal debt and a record high number of bankruptcies, it is evident the lack of financial literacy in America is a problem of epidemic proportions. In order for the American Dream to become a reality, Americans of all ages must be able to understand and apply basic money management skills to their lives.

General facts/statistics….
 More than half of us are not putting aside enough to maintain anything like our present standard of living upon retirement.  By the year 2010, 78 million Americans will be 65 or older.  One in three has no retirement savings.  (Housing & Urban Affairs Committee)
 It costs the average American family over $200,000 to raise a child to 18.  (U.S. Department of Agriculture)
 Only 32% of American parents talk to their children regularly about personal finance.  (Office of Investor Education & Assistance, Securities & Exchange Commission)
 The average credit-card debt among 25-to-34 year olds was $5,200 in 2004, 98% higher than in 1992.  (Business Week, Nov/ 14, 2005)

Responsibility for our financial future has shifted to the individual. Consequently, the week’s activities are coordinated and put on by a partnership group that includes financial institutions, community groups, local government agencies, schools and colleges for individuals of all ages. 

Questions, call co-chairs of Money Smart Week Green Bay—Nancy Schopf, Green Bay Area Chamber of Commerce, 437-8704, or Bobbi Lison, Catholic Charities Budget Counsel, 272-8234.
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