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Jump$start Coalition Teachers’ Summit November 5, 2010. Utah is Asset Poor. Asset poverty - the ability of a household to access wealth resources (assets) sufficient to meet basic needs for a period of three months Almost 31% of Utah’s population is asset poor
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Jump$start Coalition Teachers’ Summit November 5, 2010
Utah is Asset Poor • Asset poverty - the ability of a household to access wealth resources (assets) sufficient to meet basic needs for a period of three months • Almost 31% of Utah’s population is asset poor • Three times the rate of income poverty • Ranked 47th out of 50 states
Utah Council on Financial and Economic Education SCR 3 – Passed by the Utah Legislature in 2009 • Endorses the creation of the UCFEE, to be chaired by the Utah State Treasurer • Encourages participation on the Council by several state agencies, and all other private or public entities that engage in teaching financial education • Encourages the council to connect, coordinate, and strengthen existing financial education efforts in the State of Utah
UCFEE Vision • All Utahns have necessary skills and knowledge to improve financial stability • All Utahns are financially savvy and have financial security • Make financial education easy to access and pervasive (in school, church, workplace, etc) • Create a culture shift - a new image of “wealth” where saving becomes the norm or it’s “cool” to save • Create incentives for saving and displaying good financial behavior
Goals & Objectives • Promote financial literacy education • Reach ALL Utahns • Work collaboratively to coordinate ongoing efforts
Goals & Objectives • Connect current FLE outreach programs with common messaging • Embed FLE into all areas of a person’s life to reinforce skills and positive behavior (school, work, church)
Goals & Objectives • Make FLE accessible to all • Create opportunities, tools, and support • Create a central web portal www.BelieveInYourFuture.org
UCFEE Members Utah Associations of Certified Public Accountants Utah Bankers AssociationUtah Division of SecuritiesUtah Educational Savings PlanUtah Higher Education Assistance AuthorityUtah Jump$tart CoalitionUtah Microenterprise Loan FundUtah State Office of EducationUtah State University ExtensionUtah State Treasurer's OfficeWadell & Reed, Inc.Wells FargoZions Bank AAA Fair Credit Foundation AARP Chase The Church of Jesus Christ of Latter-Day Saints Citi Bank Community Action Partner of Utah Far West Bank Federal Reserve Bank of San Francisco Finance in the Classroom Internal Revenue Service Ivory Homes Junior Achievement of Utah, Inc. Key Bank KUED Pubic Television Mountain America Credit Union The Pitney Bowes Bank, Inc. United Way of Salt Lake United Way of Utah County
Believe Website • To use in addition to Finance in the Classroom for teachers • Believe website is for EVERYONE • Introduce it to your students • Use it in class • Bill character is appealing to kids of all ages