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Tennessee Financial Literacy Commission and University of Tennessee Celebrate Money Week

Tennessee Financial Literacy Commission and University of Tennessee Celebrate Money Week

The Tennessee Financial Literacy Commission celebrated Money Week at Union Grove Elementary School in Blount County on Wednesday, May 11, 2022.

Friendsville, TNThe Tennessee Financial Literacy Commission celebrated Money Week at Union Grove Elementary School in Blount County on Wednesday, May 11, 2022. Treasurer David H. Lillard, Jr., University of Tennessee President Randy Boyd, Blount County Mayor Ed Mitchell, and Dr. Janet Fox of University of Tennessee Extension read a financial literacy storybook to first- and second-grade classrooms and discussed the importance of financial literacy with students.

Also in attendance were Representative Bob Ramsey, House District 20; Director of Blount County Schools Rob Britt; Bill Parker, TNFLC Director; and Dr. Ann Berry and Dr. Chris Sneed, UT Extension Family and Consumer Sciences.

Money Week is the newest financial education program offered by UT Extension. It is designed for first- and second-grade students and their caregivers and represents a partnership between TNFLC, UT Extension, and local schools. This year, TNFLC helped fund implementation of Money Week in 11 counties across Tennessee. This funding allowed for all teachers implementing Money Week to be provided with all the needed teaching supplies, books, and other program materials. It also allowed every student completing Money Week to receive a free take-home book about money.

According to the National Financial Educators Council, in 2021, Tennesseans aged 15-18, who are on the cusp of financial independence, scored on average just 61.52% on a national financial literacy test. Research has demonstrated that developing an awareness of spending and savings concepts early can lead to greater financial competence later in life. With that in mind, the Tennessee Financial Literacy Commission has expanded financial education outreach efforts to incorporate Money Week, a program from UT Extension, into elementary schools across the state.

“Learning about money is an important part of education. Financial literacy ensures Tennessee families have a better quality of life,” said Treasurer Lillard. “You can live pretty well in today’s society, even on a modest amount of money, if you make good money decisions. The TNFLC wants to empower young people to understand the value of their money.”

“Financial literacy is so critical to the future of our state and the future of our youth,” said President Boyd. “The University of Tennessee and me personally are committed to doing all we can to support Treasurer Lillard and this great work.” 

Money Week is an opportunity for young people to see the practical aspects of actually dealing with coins and money in their hands,” said Mayor Mitchell. “Kids don’t often experience this anymore, because people do not handle money as much as they used to.”

 

About the Tennessee Financial Literacy Commission:

Created by the Tennessee General Assembly under the Financial Literacy Program Act of 2010, the Tennessee Financial Literacy Commission endeavors to improve and promote the financial literacy of Tennesseans through educational programs, publications, and campaigns. The commission believes every citizen must acquire the knowledge and skills to effectively manage money in order to fully participate and thrive in an increasingly complex economy. For this reason, we are acutely focused on connecting schools and families with high-quality financial education resources designed to improve financial well-being and economic mobility. The Commission is a 501(c)(3) nonprofit entity, administratively attached to the Tennessee Department of Treasury.

For more information, visit TNFLC.org.

 

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