(EAST HARTFORD, CT) - Comptroller Sean Scanlon and Treasurer Erick Russell today launched their Comptroller-Treasurer (C-T) Financial Literacy Checklist. Throughout the month of April, which is Financial Literacy Month, Comptroller Scanlon and Treasurer Russell will be encouraging Connecticut residents to invest in their futures and their fiscal health through five key tasks:
- Check your credit score
- Open a savings account
- Open a retirement account
- Create a monthly budget
- Establish a savings goal
"Like many in our state, I was raised by two parents who worked hard but who didn't know the first thing about financial literacy," said Comptroller Scanlon. "Even though it's a topic that seems complicated and intimidating, it's not. By launching the C-T Financial Literacy Challenge, Treasurer Russell and I are hoping to educate Connecticut residents about the magnitude of taking these small but really important steps to improve their financial futures."
"Financial literacy can help young families save for education or plan for emergencies. It can help people build wealth, buy homes, and start businesses. And it can help workers prepare for a secure and dignified retirement," said Treasurer Russell. "A strong base of financial knowledge is a foundation for opportunity and independence. I encourage everyone across the state, of all ages, to take action towards a strong financial future."
According to Forbes Magazine, "Numerous studies have shown that high school students, like most Americans overall, display a strikingly low level of financial sophistication." With the number of students who have to take out loans to attend college continuing to rise, it is increasingly important that students and their families understand concepts such as financial aid, credit scores, debt, budgeting, and more.
For more information on the C-T Financial Literacy Checklist, a downloadable PDF, and resources to accomplish each task, visit osc.ct.gov/finlit.Download as PDF More News