Cause and Effect in European Politics and Law

Literacy as an anti crisis measure

Adelina Marini, April 29, 2010

The Financial Literacy and Education Commission (FLEC) announced the launch of its redesigned website for financial literacy education. The idea of the website is to help American citizens educate themselves for free of basic financial operations, to plan their life-time budgets, to see how a budget will change if they give birth to a child or adopt one, what their college savings will be and many other services.

The redesigning of the website is also aimed at coinciding with the National Financial Literacy Month, recently proclaimed by president Barack Obama as part of White House's efforts to expand financial education for American citizens.

"As America recovers from the most severe financial crisis since the Great Depression, it's critical that we strengthen every aspect of our financial system. That means not only strong reforms and consumer protections, but also improved financial literacy and access", the Treasury Deputy Secretary Neal Wolin explained. He added that financial education was a priority for the administration of president Obama because it was important Americans to have access to free, reliable and unbiased information that can help inform their daily financial decisions.

The website serves as a focal point of the information from 21 Federal agencies, departments and bureaus that comprise the FLEC. The website also has a Spanish language version.