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Thursday, January 18, 2018

TREASURER GOLDBERG RELEASES PROGRESS REPORT ON FINANCIAL LITERACY INITIATIVES IN MASSACHUSETTS

TREASURER GOLDBERG RELEASES PROGRESS REPORT ON FINANCIAL LITERACY INITIATIVES IN MASSACHUSETTS

BOSTON – Today, Treasurer Goldberg issued a progress report on the first two years of her Office of Economic Empowerment's financial education initiatives.  

These initiatives resulted from the Treasurer's 2015 Financial Literacy Task Force, whose report issued an action plan to enable all Massachusetts residents to gain access to the financial skills they need at each stage of life.

“Building robust financial literacy programs is a critical step toward strengthening economic security for everyone in Massachusetts,” said Treasurer Goldberg. “We will continue to innovate and expand our outreach through digital delivery and partnerships throughout the state. When we invest in people, we empower people to invest in themselves.”

“Initiatives and programs generated by the Treasurer’s Financial Literacy Task Force target students of all ages, veterans, women, and seniors. A broad array of the Commonwealth’s citizens have benefitted from the Treasurer’s inclusive and innovative approach to economic security,” said Barbara Anthony, Former Chair of Financial Literacy Task Force. 

In just two years, Treasurer Goldberg’s Office of Economic Empowerment has initiated 19 of the 22 policy recommendations provided by the Task Force, including:

  • Reaching more than 1,000 Worcester kindergarten students and families through the SeedMA college savings pilot program;
  • Establishing SoarMA, a two-year children’s savings account pilot designed to help low-income 7th graders and their families save for higher education and develop college-bound identities;
  • Providing salary negotiation and money management training to five communities and 184 women through the Women’s Economic Empowerment Series;
  • Serving 900 members of the Military, Veteran, Family and Survivor Community through Operation Money Wise financial education grants;
  • Awarding more than $140,000 through the Financial Education Innovation Fund to establish or expand financial education fairs at 52 high schools, serving over 10,000 students; and
  • Creating EqualPayMA.com and MyFinancialLifeMA.org, robust digital platforms with tools to close the wage gap and provide resources for the financial challenges of every resident.

You can find a more detailed review of the Progress Report and recommendations HERE.

On day one, Treasurer Goldberg created the Office of Economic Empowerment (OEE), led by a deputy treasurer, with the deliberate goal of implementing a range of economic empowerment initiatives that include closing the gender wage gap, increasing access to financial education, improving college affordability, and investing in STEM careers and education.

For more information about OEE, visit http://www.mass.gov/treasury/empowerment or follow @EmpowermentMA on Twitter.

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