As students across the Garden State prepare to start the new school year, the Department of Banking and Insurance is also preparing to resume our financial literacy presentation for students for the 2012-13 school year.
Last school year, I was proud that DOBI staff and I were able to reach young people in thirteen communities, including Newark, Bayonne, Matawan, Somerset, Oakland, Jersey City, Howell, Highland Park, Brick, Marlboro, Perth Amboy and Rahway. In Trenton, I spoke with a group of students about using credit, savings and choosing a financial institution.
Since Governor Christie took office in 2010, the Department and our partners in the banking community and Junior Achievement of New Jersey have made it a priority to bring this important presentation to as many young people as possible during the last school year, reaching thousands.
While students are required to have certain financial, economic, business and entrepreneurial literacy before they graduate, our DOBI program provides a unique, real world regulator’s perspective on this issue. Many high school students are preparing to go to college or trade school, enter the workforce, apply for their first credit cards, or apply for a student loan and that’s why we are focusing on giving them the tools to be responsible financial consumers. We’ve seen a positive response from students and local educators and I’m proud that the Department has been able to bring this program to high school students, and it is an honor for me every time I address students about financial literacy.
Some of the key highlights of our program include:
- How financial decisions made today will certainly impact future opportunities;
- That credit cards should be used but not abused; and
- How to set up a budget and stick to it.
I'm glad to report that we will be on the road again this fall. This program is a top priority of the Christie Administration. New Jersey’s future prosperity depends on every individual making the best personal decisions when it comes to handling his or her money.
This summer, DOBI has expanded the financial literacy program to senior citizens, covering such topics as life insurance, annuities, long term care and reverse mortgages.
By providing this important information to our State's students and seniors, we empower New Jerseyans to make better financial choices.
New Jersey Department of Banking and Insurance