National Financial Literacy Month and the April 15th federal tax deadline provided an appropriate backdrop as Wilmington City Council today joined with the Delaware Financial Literacy Institute (DFLI) to urge Delawareans to become financially literate and to build savings, not debt.
3rd District Council Member Darius Brown spoke of the need for greater financial security and improved education, while Council President Theo Gregory reminded the audience that financial literacy is not just an economic issue, but one of quality of life.
Some scary savings statistics:
- People in their ’20s and ’30s spend up to a third of their total income repaying debt
- Forty percent of Americans report having less than $1,000 in savings
- Today’s college freshmen receive an average of eight credit card offers in their first week on campus
DFLI Executive Director Ronni Cohen urged attendees to spread the word about thousands of free classes on topics from investing to budgeting to saving for college and retirement offered throughout the state each year. “Some say DFLI is Delaware’s best-kept secret,” she said. “We don’t want to be a secret any longer – spread the word!”
While best known for its signature program, the Money School, DFLI offers many other education programs to individuals, students and small businesses, including From Purses to Portfolios; Friends Don’t Let Friends Drown in Debt; Got $avings?; First State Saves; Coalition of Organizations for Delaware Entrepreneurship (CODE); and youth programs including “Chasing the Dream,” a venture creation camp, and Bank At School.
Visit www.dfli.org for a schedule of free classes and programs.