TO CATCH A DOLLAR Sparks New American Financial Literacy Campaign!

The Allstate Foundation, Dress for Success and the producers of the documentary To Catch a Dollar today launched an innovative new financial literacy initiative that encourages Americans to take concrete steps to improve their financial futures. The ‘My Dollar My Life’ campaign will provide Americans with the opportunity to make specific promises to change their financial health and, for the first 10,000 promises made, The Allstate Foundation will make a $1 donation to Grameen America.

“We’re honored to spearhead the ‘My Dollar My Life’ project,” said Vicky Dinges, Vice President for Public Social Responsibility at Allstate Insurance. “With each promise, we grow closer to an America where people not only understand the importance of planning for their financial future, but where people are actively building a stable financial future for themselves and their families. It’s our hope that this campaign will bring attention to financial empowerment for all Americans.”

To participate in ‘My Dollar My Life,’ users can visit tocatchadollar.com/promise and facebook.com/tocatchadollar, where they will have the ability to commit to one of a number of promises to improve their financial future, from contributing to a 401K to passing up an unnecessary purchase to save money. With each promise made, users will have the option of sharing their commitment on their Facebook newsfeed and The Allstate Foundation will donate $1 to the Grameen America branch fund for the first 10,000 promises made.

“Dress for Success has long placed a priority on improving financial literacy for women – especially those seeking to lift themselves out of poverty,” said Joi Gordon, CEO of Dress for Success Worldwide. “The ‘My Dollar My Life’ initiative is a unique way to pursue this objective, combining the power of storytelling with the reach of social media to create real impact.”

Audiences in hundreds of theaters across the country watched To Catch a Dollar on March 31, the story of the first Grameen America branch in the United States and how its borrowers are using small loans to build businesses and improve their lives. The Allstate Foundation and Dress for Success were supporters of the film’s launch event and are partners in its ongoing economic empowerment campaign designed to educate, assist and activate a growing community supporting microfinance services in the United States. Throughout the month of April, in partnership with leading activist and advocacy organizations, the To Catch a Dollar community is exploring issues related to the film and relevant for America today: women in poverty, the plight of the “unbanked” in America, savings and financial literacy, and policy solutions. Visitors can learn more at www.tocatchadollar.com.

“To Catch a Dollar tells an important story, but more than that, it demonstrates to audiences that there are challenges facing women in this country, but there are also solutions – so long as we are willing to take the steps needed to reach them,” said Gayle Ferraro, director and producer of the film. “As a filmmaker, it’s an honor to work with organizations like the Allstate Foundation and Dress for Success to extend the reach of my film to have real impact in people’s lives. We’re excited to get started.”

The My Dollar My Life campaign will begin today and continue throughout the week on www.tocatchadollar.com.

About the Allstate Foundation

Established in 1952, The Allstate Foundation is an independent, charitable organization made possible by subsidiaries of The Allstate Corporation (NYSE: ALL). Through partnerships with nonprofit organizations across the country, The Allstate Foundation brings the relationships, reputation and resources of Allstate to support innovative and lasting solutions that enhance people's well-being and prosperity. With a focus on teen safe driving and building financial independence for domestic violence survivors, The Allstate Foundation also promotes safe and vital communities; tolerance, inclusion, and diversity; and economic empowerment. For more information, visit www.allstatefoundation.org.

About Dress for Success

Dress for Success is an international not-for-profit organization that promotes the economic independence of disadvantaged women by providing professional attire, a network of support and the career development tools to help women thrive in work and in life. Since starting operations in 1997, Dress for Success has expanded to more than 110 cities in the U.S., Australia, Canada, Ireland, Mexico, the Netherlands, New Zealand, Poland, the UK and the West Indies. To date, Dress for Success has helped more than 600,000 women work towards self-sufficiency. Visit www.dressforsuccess.org to learn more.

About Grameen America

Grameen America's mission is to provide affordable microloans to financially empower low-income entrepreneurs.  Since January 2008, Grameen America, a 501(c)3, has loaned out over $16 million dollars in microloans to over 5,500 members.  Started in Jackson Heights, Queens, Grameen

America has quickly expanded to Brooklyn, Manhattan, and Omaha, Nebraska.  Our vision is to help create a world free of poverty. We predict a market where any individual with a dream can receive affordable financial products regardless of income, previous credit history, education, or business experience.  We envision a world where burgeoning entrepreneurs are empowered to lift themselves out of poverty through hard work and determination to forge better lives for their families and future generations (www.grameenamerica.org). Please contact krosenberg@grameenamerica.org / (212) 735-4023.

About To Catch A Dollar

Immediately following its theatrical premiere on March 31, the producers of To Catch a Dollar launched a text-to-give campaign to raise funds for a future Grameen America branch. By texting ‘AMERICA’ to 85944, the public will give a $10 donation to Grameen America and in a unique online selection process, users are simultaneously choosing from four candidate cities: Atlanta, Chicago, Los Angeles and Washington, DC. Using their Facebook accounts, voters will be able to vote once per week for the life of the contest.

To Catch A Dollar is an independent documentary owned and funded by the director Gayle Ferraro of Aerial Productions.  For more information go to www.aerialproductions.com or contact gayle@aerial-productions.com

All opinions expressed in this review are my own and not influenced in any way by the company.  Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. Please refer to this site's Disclaimer  for more information. I have been compensated or given a product free of charge, but that does not impact my views or opinions.

   

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Financial Literacy: Mom vs. Dad

According to the TD Bank Financial Literacy Poll released today by TD Bank, America’s Most Convenient Bank®, 62 percent of all parents agree they should start teaching their children about money by 12 years of age. While mothers and fathers generally agree on when to start money-related conversations, the survey reveals they differ when it comes to their own financial confidence and how they teach their children financial literacy.  

TD Bank surveyed 1,637 consumers within the Northeast as well as Florida and Washington, DC to better understand their financial literacy and attitudes, specifically examining the role of the parent and how this can differ between mothers and fathers.

“The survey shows that each parent contributes different money-related lessons when it comes to a child’s financial education,” says Suzanne Poole, executive vice president, retail sales strategy, TD Bank. “This indicates that it’s important for moms and dads to combine efforts to ensure that their children learn all aspects of financial literacy from monthly budgets to every
day spending.”

Mom vs. Dad: Financial Confidence

According to the survey, 34% of respondents rated their financial knowledge as “good” or better. From that, dads are found to be nearly 10% more financially confident than moms. Despite these findings, 66% of dads also report they wish they had more conversations with their children about money.  

Moreover, while moms perceive themselves to be less financially confident, 52% report feeling they take all or most of the responsibility when teaching their children about financial matters. 

Mom vs. Dad: Budgeting

Despite evidence that better budgeting can contribute to a more financially fit family, 43% of families surveyed still are not creating or following a monthly budget. Even more interesting are the parental disparities in the reasons why they don’t budget:

• 35% of dads versus 22% of moms feel they do not need a budget
• 19% of moms versus 12% of dads feel they find budgets too complicated and don’t know how to create one

Moms vs. Dads: Financial Education Actions

When it comes to the actions taken by individual parents toward their child’s financial education, moms are more likely to engage in everyday financial conversations:

Teaching children how to count money (81%)

Teaching money matters while shopping (70%)

Saving money in a piggy bank (70%)

Dads, on the other hand, are more likely to focus on the tangible aspects of money:

Providing an allowance (52%)

Setting a savings goal (32%)

 

Other Key Findings From the Survey Include:

 

Given the recession, 55% of families say they are talking to their children more often about money

30% of families feel they are being more proactive and having conversations with their children before matters arise

Only 1-in-3 parents are setting a savings goal

 

Note:  Please contact us for additional data points and specifics from New England, Mid-Atlantic, Washington, DC and Florida.

 

According to the TD Bank Financial Literacy Poll released today by TD Bank, America’s Most Convenient Bank®, 62 percent of all parents agree they should start teaching their children about money by 12 years of age. While mothers and fathers generally agree on when to start money-related conversations, the survey reveals they differ when it comes to their own financial confidence and how they teach their children financial literacy.  

TD Bank surveyed 1,637 consumers within the Northeast as well as Florida and Washington, DC to better understand their financial literacy and attitudes, specifically examining the role of the parent and how this can differ between mothers and fathers.

“The survey shows that each parent contributes different money-related lessons when it comes to a child’s financial education,” says Suzanne Poole, executive vice president, retail sales strategy, TD Bank. “This indicates that it’s important for moms and dads to combine efforts to ensure that their children learn all aspects of financial literacy from monthly budgets to every
day spending.”
Mom vs. Dad: Financial Confidence

According to the survey, 34% of respondents rated their financial knowledge as “good” or better. From that, dads are found to be nearly 10% more financially confident than moms. Despite these findings, 66% of dads also report they wish they had more conversations with their children about money.  

Moreover, while moms perceive themselves to be less financially confident, 52% report feeling they take all or most of the responsibility when teaching their children about financial matters. 

Mom vs. Dad: Budgeting
Despite evidence that better budgeting can contribute to a more financially fit family, 43% of families surveyed still are not creating or following a monthly budget. Even more interesting are the parental disparities in the reasons why they don’t budget:

35% of dads versus 22% of moms feel they do not need a budget
19% of moms versus 12% of dads feel they find budgets too complicated and don’t know how to create one

Moms vs. Dads: Financial Education Actions

When it comes to the actions taken by individual parents toward their child’s financial education, moms are more likely to engage in everyday financial conversations:
Teaching children how to count money (81%)
Teaching money matters while shopping (70%)
Saving money in a piggy bank (70%)

Dads, on the other hand, are more likely to focus on the tangible aspects of money:
Providing an allowance (52%)
Setting a savings goal (32%)
 
Other Key Findings From the Survey Include:
 
Given the recession, 55% of families say they are talking to their children more often about money
30% of families feel they are being more proactive and having conversations with their children before matters arise
Only 1-in-3 parents are setting a savings goal
 
Note:  Please contact us for additional data points and specifics from New England, Mid-Atlantic, Washington, DC and Florida.
 

Survey Methodology
The study was conducted among consumers in the New England census division, Middle Atlantic census division, Florida and Washington DC from January 5-12; 2011.TD polled 1,637 consumers from Maine to Florida: 718 in New England, 689 in Middle Atlantic and Washington, DC, and 230 in Florida. The sample size of 1,637 has a margin of error of +/- 2.4%. The survey was hosted by global research company Angus Reid Public Opinion.
 
About Angus Reid Public Opinion
Angus Reid Public Opinion is the Public Affairs practice of Vision Critical—a global research company. Vision Critical is a leader in the use of the Internet and rich media technology to collect high-quality, in-depth insights for a wide array of clients.

All opinions expressed in this review are my own and not influenced in any way by the company.  Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. Please refer to this site's Disclaimer  for more information. I have been compensated or given a product free of charge, but that does not impact my views or opinions.
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Talking money to pre-tweens

April is National Financial Literacy Month. The national epidemic of home foreclosures, bankruptcies and joblessness has created an awareness of how easy it can be to live beyond one’s means.

A new, free digital resource from Networks Financial Institute at Indiana State University provides an interactive way for parents to talk with their pre-tweens about money while also supporting Department of Education standards for reading and math in grades 3 to 5.

 Kids Count: The Road to Financial Literacy is available at www.networksfinancialinstitute.org and includes:

• A virtual field trip to the community of Nickelsburg where children learn to differentiate between wants versus needs as they care for Peso the Puppy
• Downloadable activities that reinforce saving, spending, giving and budgeting concepts
• Tips and activities parents can access to integrate money management lessons into family activities

All opinions expressed in this review are my own and not influenced in any way by the company.  Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. Please refer to this site's Disclaimer  for more information. I have been compensated or given a product free of charge, but that does not impact my views or opinions.
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Book Review - The ROTH Revolution: Pay Taxes Once and Never Again

About the Book
Millions of IRA and retirement plan owners have a feeling there is something they should be doing with their money but they don’t know what to do. They are also afraid of future tax increases and want to protect themselves. There are thousands of books trying to tell you how to invest your money. "The Roth Revolution", however, offers proven strategies regarding Roth IRA conversions and other complementary strategies to help readers preserve and accumulate and pass on wealth by drastically reducing their taxes. "The Roth Revolution" provides a thorough and clear explanation, as well as a step-by-step guide on what IRA and retirement plan owners should do to maximize their retirement and estate plan.


My Take on the Book
As a person who does not always know what to do with his money, I can say that this book was straight-forward and easy to understand. I found this book to be a great resource for both the expert as well as newcomer to ROTHs. What I liked most within the book were the examples help within the book. As a non-expert, the examples were easy to understand and could be shared vastly with others to increase their own financial savvy.

Not that I a ready for retirement anytime soon, which is another reason that I along with many of my colleagues may be wanting to look for ways to save money, and ROTH IRas' are one way to consider =, as this book explains well.

Overall, this book was a quick and easy read and one that I would share with all!

All opinions expressed in this review are my own and not influenced in any way by the company.  Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer or provider. Please refer to this site's Disclaimer  for more information. I have been compensated or given a product free of charge, but that does not impact my views or opinions.
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