:: Recognizing Financial Literacy Month  ::

America has always been a of land great economic opportunity. With the information age in high gear, we have access to a wide variety of financial tools that can help us save and invest, pay our bills conveniently and quickly, manage our money and ensure our families are well provided for in the case of emergency. Whether we are considering major purchases like cars, homes and college educations, or just purchasing a product at the local convenience store, we have many financial tools to choose from. But with options, come risks and the benefits of financial choices can quickly become roadblocks and liabilities to those who lack a basic financial education.

This month we celebrate Financial Literacy Month, a time when the federal government, states, localities, schools, nonprofit organizations, and businesses work together to raise public awareness about the importance of financial education in the United States and the serious consequences that may be associated with a lack of understanding about personal finances.

The Federal Trade Commission, the nation’s consumer protection agency, suggests the following easy steps to becoming a financially literate American:

Consider the National Do Not Call Registry. If you haven’t signed up already, this tool can help put an end to telemarketers calling and trying to sell you something. Visit donotcall.gov and register your phone number with the National Do Not Call Registry.

Keep Your Personal Information To Yourself. In the past five years, more than 27 million Americans have been victims of identity theft. Protect your passwords, guard your credit card number, shred sensitive paperwork, and don’t leave your mail lying around where it might tempt a potential identity thief.

Understand Credit. Credit is so much more than just a plastic card. It’s your financial future. Before you sign on the dotted line, make sure you “speak credit.” Late payments now will come back to haunt you when you try to buy a car, purchase or rent a house, or even apply for a job. Once you’ve established credit, get a free copy of your credit report once a year by visiting www.annualcreditreport.com.

Ask Questions. Before spending your hard-earned money, ask questions and do your homework. Ftc.gov is just one place to go for accurate consumer information. But if something goes wrong and you aren’t able to get satisfaction, speak up. Report fraud and deceptive practices to the FTC by filing a complaint online.

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.

As we recognize Financial Literacy Month, I hope you’ll pass this important message along to friends and family who might benefit from this message. After all, when we do not understand the benefits as well as the risks of the many financial tools at our disposal, we are less likely to achieve our full economic potentials and we are unable to reap the full benefits of our hard-earned income, savings, or investments. This is true for us not just as individuals, but collectively it is true for us as communities, as states and as a nation.