Financial Literacy Programs Build Financial Stability

Contact: Lauren Lawson, Goodwill Media Relations, 240-333-5266, mobile 240-388-8309, newsroom@goodwill.org

ROCKVILLE, Maryland, April 1 /Standard Newswire/ -- The personal savings rate in the United States was a negative 1 percent in 2006, according to the Department of Commerce, the worst showing in 73 years. The negative rate means people spend all the money they have left after paying taxes - and then some. For the thousands of low-income families who seek help from Goodwill, this trend could mean serious trouble if they don't have the savings to pay for their basic needs.

"At Goodwill, we know that a job is the first step on the path to financial independence," says George W. Kessinger, President and CEO of Goodwill Industries International. "We want to teach people good money management skills so that they can spend less, save more and become financially stable."

Local Goodwill agencies across the U.S. offer financial literacy programs that teach good financial habits, help people access the tax credits for which they are eligible, and offer strategies for asset accumulation and investment. Using courses such as Goodwill's Good$ense curriculum, the programs aim to encourage savings by helping people manage their paychecks, improve budgeting skills and maximize their money.

"One of our goals is to put more money in the pockets of low-income individuals," says Kessinger. "We do that not only by helping them find jobs, but also by helping them make the most of their paychecks so that they can reach their financial goals."

April is National Financial Literacy Month, and financial literacy month is critical for low-income workers. Visit http://www.goodwill.org for more information.