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CFED Raises Awareness of the Importance of Financial Capability During Month-Long Campaign

By Sean Luechtefeld on 04/07/2016 @ 10:00 AM

Tags: Integrating Financial Capability, News

In 2014, President Obama declared April National Financial Capability Month “to renew our drive to give all Americans the tools to navigate the financial world and gain the economic freedom to pursue their own measure of happiness.” For the second year in a row, CFED is engaging in a month-long campaign aimed at raising awareness about the importance of strategies that build financial capability for all Americans. The campaign kicked off with the release of our Financial Capability Lifecycle and will include new resources all month to help you make the case for financial capability services in your work and in your community.

As CFED’s Vice President for Programs, Kate Griffin, argued on our blog, the story of financial capability comes back to one simple thing: what’s going on in your life? What are you worried about, dreaming about, planning for? That’s the lynchpin upon which you will make financial decisions. Across the lifecycle, there are multiple times and ways in which we are primed to look around us — for advice, for products, for a hand — before we make a decision that impacts us financially. We’re calling this the “Financial Capability Lifecycle.” To paint a picture of how financial capability develops, we’ve looked at three types of lifecycle events, including universal experiences, expected or recurring experiences, and the unexpected. For more about the ways in which these moments affect—and are affected by—one’s financial capability, check out the Lifecycle here. Then, share your feedback so we can make this tool as useful as possible to the field.

Beyond the Lifecycle, we’re rolling out a series of other useful resources this month. For example, as the 2016 tax season draws to a close, we’ll be reflecting on the successes of the VITA field over the past several months and releasing a white paper highlighting the promise of community tax preparation. We’ll also be releasing some helpful resources about how to integrate financial capability services into existing programs, sharing information about the interplay between race and financial well-being, and more.

Most importantly, we want to know about and help promote your financial capability month activities. Are you planning an event or releasing a new resource? Let us know how we can help spread the word by sending us an email.

Finally, if you want to contribute to this month-long celebration of financial capability but aren’t planning your own activities or don’t a lot of resources, we’ve put together some easy-to-use tools to help you get involved. Check out the Financial Capability Month 2016 toolkit to help spread the word about the importance of your efforts to boost financial capability for the individuals, families and communities you serve!

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