By Edmund F. Richardson
The Federal Deposit Insurance Corporation (FDIC) on October 30, 2013, launched an updated English version of the Money Smart Podcast Network website. The portable audio (MP3) version of the award-winning Money Smart financial education curriculum is suitable for use with virtually all MP3 players so that consumers of all ages can learn to make informed and prudent financial decisions while “on the go.”
The contents of the revised Money Smart Podcast Network includes updates to reflect changes in consumer laws, and is in alignment with the Financial Literacy and Education Commission’s (FLEC) “My Money Five.” These are the five key principles to help individuals make sound financial decisions. The podcast also provides a venue for consumer feedback. Through interactive conversations between talk-show hosts Darryl and Terry and various guests throughout the podcast, the Money Smart Podcast Network continues to be a tool to help consumers of all ages, who have not had bank accounts or who have not used banking services regularly, learn to make informed financial decisions.
The FDIC reports that the “Money Smart curriculum brings proven results in how those who complete the curriculum manage their finances. More than three million consumers have had the opportunity to learn how to better manage their finances and more effectively use mainstream banking services through the Money Smart curriculum. It can be easily reproduced, and has no copyright restrictions.” For more information, visit: www.fdic.gov/moneysmart
The Five Principles
Article Body
EARN – Make the most of what you earn by understanding your pay and benefits.
SAVE & INVEST – It’s never too early to start saving for future goals such as a house or retirement, even by saving small amounts.
PROTECT – Taking precautions about your financial situation, accumulate emergency savings, and have the right insurance. .
SPEND – Be sure you are getting a good value, especially with big purchases, by shopping around and comparing prices and products. .
BORROW – Borrowing money can enable some essential purchases and builds credit, but interest costs can be expensive. And, if you borrow too much, you will have a large debt to be repaid.