Washington DFI and Partners Celebrate Financial Capability Month with Financial-Focused Events and Programs

OLYMPIA- The Washington State Department of Financial Institutions (DFI) joins state and national organizations in support of Financial Capability Month - a time to focus on providing resources, education and opportunities for all residents to become better informed about finances and to strengthen their financial lives.

"At DFI, we recognize the importance of financial capability for the people of Washington," DFI Director Charlie Clark said. "The pandemic drove home the need for emergency savings and financial preparedness in the event that a disruption occurs, whether it be a sudden loss of income or an unexpected expense. Additionally, it's so important that consumers know the warning signs of fraud to avoid becoming victims of financial fraud - an event that can be catastrophic to personal financial security."

The Washington State Department of Commerce's Financial Fraud and Identity Theft Investigation and Prosecution Program February 2023 report provides state level data on these types of crimes in Washington, including information on victims: "Younger people reported losing money to fraud more often than older people. Those aged 20-29 reported losing money in 41% of reports to the FTC. When people aged 70+ have a loss, the median loss was much higher, from $500 to $1,500." Information like this reminds us all of the importance to become more informed about how to protect ourselves from identity theft and financial fraud.

Additionally, a 2022 report by the Global Financial Literacy Excellence Center and TIAA Institute connects financial literacy obtained earlier in life with more prepared retirement readiness. This is especially important in light of results in the 2021 Survey of Household Economics and Decision-making indicating: "Among non-retirees age 60 and older, 13% have no retirement savings, and 48% do not think their retirement savings are on track."

Understanding the importance of starting financial education early in life so the people of Washington can build stronger financial skills throughout their lives, DFI provides funding for financial education with proven efficacy in pre-K, elementary and middle school classrooms, and assists educators in hosting activities like Budget For Your Bank, where students learn how to budget play money for real banks and stickers.

Also occurring this month is the Federal Reserve Bank of Chicago's National Money Smart Week, April 15-21. This year's event will again be 100% virtual, with different webinars to register for - each offered from 11-11:20 a.m. Pacific:

DFI is collaborating with the Pierce County Library System and American Financial Solutions to offer four Financial Fitness Fridays events (one online only, and three in-person): https://calendar.piercecountylibrary.org/events

Financial Fridays! - What is Cryptocurrency?
Friday, April 07: 11:00am - 12:30pm
Virtual Pierce County Library - Virtual Room 1
Learn the basics of cryptocurrency from presenter Ali Higgs: Director of Regulatory & Legal Affairs | Center for FinTech.
This is an online event, and registration is required.

Financial Fridays! - Homeownership, Mortgages & More
Friday, April 14: 3:00pm - 4:30pm
Graham - Graham Meeting Room
Join Lyn Peters, Director of Financial Education & Outreach at the WA Dept. of Financial Institutions and discover what programs and options are available to help you through the process.

Financial Fridays! - Who's In Your Wallet?
Friday, April 21: 11:00am - 12:30pm
Eatonville - Eatonville Meeting Room
Find out how to fight scams and prevent financial fraud, with presenter Lyn Peters: Director of Financial Education & Outreach at the WA Dept. of Financial Institutions.

Financial Fridays! - Credit and Debt Myths
Friday, April 28: 3:00pm - 4:30pm
South Hill - South Hill Meeting Room
Learn tips and tricks for financial success from presenter Becky House: Director of Strategic Initiatives at American Financial Solutions.

Additionally, DFI staff is visiting with seniors at the Pe Ell Senior Center April 20 with our partners from Consumer Protection Washington to discuss ways to identify and avoid financial fraud and identity theft.

We hope you'll join us in promoting financial education and awareness this month!

Public link

Please use the above public link if you want to share this noodl on another website.