Gov. Deval Patrick has proclaimed October Financial Education Month (Download Financial Education Month Proclamation 10.09), which puts the spotlight on an important issue for families across Massachusetts. While the current economic environment may not be conducive to long-term planning for many households, it is always vital to be well-informed about your state of affairs and take steps to strengthen your financial status.
The Patrick Administration has been involved in a number of efforts to promote financial education. A number of agencies have played a role in the creation of the Massachusetts Financial Education Collaborative, which is working to create a strong network of teachers and programming to spread information throughout Massachusetts. That work includes the Financial Education Summit on Oct. 28. Our Office has created Project Credit Smarts, which aims to provide information about credit cards and general credit and debt issues to college students. This is an effort to make sure students know the ins and outs of having a credit card and avoiding potential debt issues down the road.
If you want to take stock of your financial situation, and perhaps strengthen your status, consider these ideas this month:
• Create a budget and stick to it
• Open a savings account and make weekly or monthly deposits
• Establish an emergency fund
• Balance your checkbook
• Pay off a credit card
• Plan your holiday spending budget
• Review your insurance coverage
• Evaluate your employee benefits, and prepare for upcoming open enrollment periods
Hopefully, with some planning and good decision-making, you can come out of Financial Education Month better off money-wise than when it started. Good luck!
What teens and seniors should know about 18-65 accounts posted on Apr 25
April is Financial Literacy Month and the Office of Consumer Affairs and Business Regulation is offering tips on how to establish and maintain healthy financial habits. It’s never too early or too late to take an interest in your personal finances. But for many, …Continue Reading What teens and seniors should know about 18-65 accounts
Tips to Reduce Your Junk Mail posted on Apr 20
Many Americans open their mailboxes to find them stuffed with envelopes bearing the names of unfamiliar or unsolicited companies. 44 percent of junk mail is thrown away unopened. As a result, about 5.6 million tons of mail offers and advertisements end up in U.S. …Continue Reading Tips to Reduce Your Junk Mail
Buyer Beware: Why clothing ads are not always what they seem posted on Apr 20
Online shopping provides a fast, convenient platform for purchasing items without the hassle of driving to a store. However, scammers often take advantage of the popularity of the online retail industry, sending purchased products that are either not what was advertised or far inferior …Continue Reading Buyer Beware: Why clothing ads are not always what they seem