FROM THE OFFICE OF PUBLIC AFFAIRS

May 17, 2005
JS-2457

Deputy Assistant Secretary Iannicola Teaches Personal Finance to Girl Scouts and Helps Launch Financial Literacy Initiative in San Antonio, Texas

Treasury's Deputy Assistant Secretary for Financial Education, Dan Iannicola, Jr. today taught a personal finance lesson to more than fifty Girl Scouts in San Antonio, Texas.  Iannicola helped kick off a financial literacy initiative sponsored by the Girl Scouts called CentsAbility.  Iannicola taught the Scouts how to set realistic financial goals, how to plan for those goals, how to establish a savings plan and to create a realistic budget based on current income and expenses.

 "Knowing how to manage one's money is an essential life skill.  Today we're empowering these Girl Scouts with the knowledge to someday function as independent adults," said Iannicola.  "I commend the Girl Scout Council of San Antonio for making financial literacy a priority through its use of the CentsAbility financial education program," he continued.

The participants were started on a savings plan and given their own new piggy bank as a reminder of what they had learned during today's lesson.  The Girl Scouts is a worldwide organization dedicated to helping girls build character and skills for success in the real world.  In partnership with committed adults, the organization focuses on helping girls develop qualities that will serve them throughout their lives.  The CentsAbility program, was developed to help girls ages 9-11 develop and flex their financial literacy muscles.  The projects and activities included in the CentsAbility kit offer opportunities for volunteers to help girls learn, and put into action key concepts and skills related to personal money management.

The Department of the Treasury is a leader in promoting financial education.  Treasury established the Office of Financial Education ("Office") in May 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning.  The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States.  For more information about the Office of Financial Education visit:  www.treas.gov/financialeducation.