News Release

Contact Information

FOR IMMEDIATE RELEASE August 31, 2004

Contact Rebecca Reid at 202-342-2922

ACEC National Chairperson Susan Molinari Moderates Financial Literacy Panel as Part of Republican Convention Activities

New York, NY (August 31, 2004) – Returning to her home state to participate in her party’s national convention, former NY Representative and current National Chairperson for Americans for Consumer Education and Competition (ACEC), Susan Molinari, moderated a panel on financial literacy at Chelsea Piers today that focused on the lack of overall education of money management skills in American and the direction the country must take to prepare for the future.

“It is appropriate that we gather today in my great state of New York, the financial pulse of this country and this week, the epicenter of national political debate,” Molinari told panelists of the “Tee It Up for Financial Literacy Forum” sponsored by the Savings Coalition of America. “When today’s leaders debate the economic issues ahead, let it be a reminder to all of us that the more knowledgeable our young people are about money management skills, free market competition and sound financial principles, the better. They are our future leaders and it is vital now that we arm them with the educational tools to lead us successfully in the years ahead.”

The forum focused on the fact that financial literacy is deficient across all generations and all socio-economic levels, and examined some of the programs that are already in place to address those deficiencies. Two panels discussed financial education across all age groups – the first on children and teens, and the second panel focused on the need for continued financial education for adults, including Baby Boomers and seniors.

“No one wins when a consumer is faced with learning money management lessons through trial and error,” noted Molinari. “Today’s panel is representative of the groundswell movement in this country to promote financial literacy across the spectrum.

And if you have access to the Internet, you have access to information that can assist you in honing your money management skills.” said Molinari.

Molinari pointed out that Visa’s Practical Money Skills for Life program provides interactive tools, quizzes and lessons on important topics like balancing a budget and managing credit cards. The Web site component of the program has content for everyone, whether one is an Internet shopper looking for fraud prevention tips, a teacher preparing a class on personal finance, or a parent about to send a student off to live alone at college.

“Quite simply, being financially literate is essential to controlling, rather than being controlled by one’s financial circumstances throughout life,” Molinari stated. “I applaud the Savings Coalition of America for sponsoring today’s forum and thank the panelists for their leadership on the issue of financial literacy.”

FOR MORE INFORMATION, CONTACT:

Rebecca Reid
Executive Director
Americans for Consumer Education & Competition
202-342-2922
Cell: 410-212-3843