Gov. Nathan Deal proclaims April Financial Literacy Month in Georgia
Consumer Protection Unit has developed website, app to provide financial information
By Jada Haynes
ATLANTA — Gov. Nathan Deal proclaimed April Financial Literacy Month in Georgia on Monday, and Attorney General Chris Carr is providing educational resources for citizens through his office’s Consumer Protection Unit.
“Understanding how to manage your money, make smart purchases and protect your data is key to having greater financial ease and success,” Carr said in a news release. “Georgians can call or visit our Consumer Protection Unit’s website to learn more about the resources we have in place to help them with their important financial decisions.”
This proclamation comes after multiple reports highlighting different factors that make managing personal finances difficult. In 2016, a Federal Reserve study on the economic well-being of U.S. households found that 44 percent of adults either could not cover an emergency expense of $400 or would need to borrow money or sell something. The Bureau of Economic Analysis recently reported the personal saving rate of disposable personal income as 3.4 percent in February.
Additionally, many people are struggling with rising student loan debt. According to the Institute for College Access and Success, 68 percent of graduating seniors in 2015 left university with an average of $30,100 in student loan debt per borrower. In 2014, the Student Loan Report found that Georgia’s default rate for student loans was 12.2 percent.
The CPU developed a website, ConsumerEd.com, to provide information on a range of topics from saving and investing to protection from identity theft. The site also includes a blog that answers submitted questions. For individuals serving in the military and their families, the CPU also developed an app called “Basic Training,” which consists of financial information and tools specific to the military community.
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