Financial Update (April-June 1997)

Atlanta Fed Hosts Personal Financial Literacy Seminar

T he Atlanta Fed hosted a special seminar in May to call attention to the issue of personal financial literacy. At the seminar, a panel of experts discussed creative ways to promote personal financial literacy, including

  • developing a media campaign to raise consumer and personal finance awareness;
  • requiring basic financial management courses in high schools, colleges and vocational schools;
  • establishing "second chance" programs with business and banking communities;
  • focusing on critical thinking in financial decision making during employee orientations;
  • changing tax laws to encourage savings;
  • asking the state bar association to review state laws on consumer issues; and
  • establishing an "Annual Savings Day."
At the seminar, a steering committee was established that plans to meet in the summer. The seminar was jointly sponsored by the Atlanta Fed, the Consumer Credit Counseling Service of North Georgia, the Georgia Council on Economic Education, Junior Achievement of Greater Atlanta and the Metropolitan Atlanta Community Foundation.

This consortium was established in 1996 in response to high levels of personal bankruptcies and other signs of poor economic decisions by consumers.

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