Starting on Saturday-21-April the Money Smart Advisory Council, working with The Chicago Federal Reserve Bank has designated the following seven days as Money Smart Week. This is to encourage more personal financial literacy across the United States. The goal is to teach every, one regardless of age, the techniques and resources on how to make the best financial decisions as possible. One example was on Friday -20-April when U.S. Congressman Josh Gottheimer visited the Teaneck High School. His visit was to talk with the with Students who are taking part in the Capital Hill Challenge. This is a national fourteen-week financial education competition that matches members of Congress with public schools in their district to teach middle and high school students about saving, investing, and government through investing a hypothetical $100,000 in listed stocks, bonds, and mutual funds.
The Congressman joined the other Students as one team gave a report on the goals of their group. Team Leader of the SSJ Group, Sheila Warrick, addressed the audience and gave them an overview of philosophy of the SSJ group. She talked about how they sought to have a diversify portfolio, but also how they searched for business that would be in line with the groups social and environmental ideas. After Ms Warrick's presentation Congressman Gottheimer talked to the Students, first complementing the SSJ group for their presentation and admiring all the Students for talking on the Challenge. He told them that it really is never too early to start learning about money and finance. He use two personal examples on how difficult personal finances can be. One was how he was able to pay his own way through Law School, and what planning needed to be done to accomplish that. The other was how both him and his wife are paying her student loans, but in a responsible manner and still raising a family. He told the Student that with the start they have given themselves , and continuing to be wise in their financial decisions, they should have a successful future.
On Saturday at the Bogota Public Library, Director Chelsea Coleman gave a workshop on how find information on the internet to aide in financial decisions. This also showed of what to look for to avoid being "scammed" from online site. She started the program by telling how many people are unsure their own financial literacy, and other practices that may harm them financial. Ms. Coleman then moved on to explain what to look for in online research, does a site work in proven facts and statistics or just give opinions and feeling about their services. There was information on how increase internet safety. One such way is to use site starting with the HTTPS: in their domain name this a way to prove that the site is confidential. Another way is to look at the end of the the domain names. Only an Official Government site are allow to use. gov ending. While only institutes of high education can use .edu this means if a site is saying it is an official business company of the government but not using the .gov this may not be secure. Ms. Coleman also talked about how to avoid "phishing scam" were a website , or still someone calling on the phone , will try and get personal and financial information from a person. She added that a person basic feeling may be a good method of staying away from scams. " If something does not feel, or sound correct it show be researched further. She said that there are many government site (with the .gov) that could verify the authenticity of a company. Plus is a sales person is talking about a decision must be made at this time it is more than likely a fraudulent business. This too can also be reported to the same government website.
What both program have in common was that the more education and work a person puts into making their financial decisions the better the result should be. The Bogota Public Library will continue Money Smart Week with programs each day for all ages from High School Students, Senior Citizens and young children and their Parents. These are all free event, but anyone attending is asked to register with the library in advance. To register for this event, or for more information please about this and other Library events visit their web site at : http://www.bogotapubliclibrary.org/ For information about the Money Smart Advisory Council, please visit their website at: moneysmartweek.org.
The Bogota Public library is located at 375 Larch Ave. Bogota, NJ.
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Teaneck High School with Congressman Josh Gottheimer
Bogota Public Library
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