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Financial Literacy for Students

Financial literacy is an important subject in your high schooler's education

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.

Sincerely,
Ken Kobylowski
Acting Commissioner
New Jersey Department of Banking and Insurance

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jerseyswamps August 28, 2012 at 10:44 PM
"How to set up a budget and stick to it"? Democrats don't have a problem with this far right thinking?
Peter Koenig August 30, 2012 at 02:28 PM
Sounds constructive - our tax dollars at work on something useful. It's not DOBI's portfolio, but how about integrating financial literacy with what used to be called "home economics"? Teach students how to shop wisely, choose among basic food products and other necessities, cook a decent and nutritious meal. Wise use of credit cards, e.g., is important, but so is making choices about what to buy.
Jesse Torres September 01, 2012 at 03:52 AM
I wanted to share this video that documents how we are using financial literacy as a tool to create a college-going culture in East Los Angeles. The link is: http://www.youtube.com/watch?v=rC2HrPnJppE&feature=plcp Jesse Torres

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