2018 Annual Report

MONEY SMART WEEK® helps consumers better manage their personal finances. MONEY Programs are offered to people of all demographics and income levels and cover all facets of personal finance. SMART® WEEK Facebook.com/MoneySmartWeekNational Twitter.com/MoneySmartWeek Instagram: @chicagofed #msw2018 Pinterest: @chicagofed Money Smart Week 2018 ANNUAL REPORT MISSION MAIN DRIVER COMMUNITIES COLLABORATION CATALYST FOR CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS MISSION MONEY SMART WEEK® is a public education campaign that helps consumers better manage their personal finances through thousands WHERE DID MSW 2018 TAKE PLACE? of free programs and events. These sessions are provided by Money What began in 2002 as a Chicago-based effort with 40 events and Smart Week® partners including nonprofits, financial institutions, 30 partners has expanded to multiple states. government agencies, schools and libraries. Classes and events (offered April 21st – 28th) connected community members with resources that strengthened public-private partnerships and engaged the media. The Federal Reserve Bank of Chicago convenes the program to help consumers locate and use resources that will help them analyze spending, manage debt, build savings and plan for the future. “Money Smart Week helps people from all backgrounds build financial capability. When consumers learn how to best save, spend, plan, and invest, they can take steps toward securing their financial futures. A community of Events: 4,350 Attendance: 141,740 Attendees 1 34,000 well-informed consumers helps support a healthy economy.” Events 1 900 States: 41 — Charles L. Evans, President & CEO, Federal Reserve Bank of Chicago Partners: 2,500+ MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 THE MAIN DRIVER During Money Smart Week 2018, groups across the country worked together to reach consumers with information and ideas to encourage financial well-being. Topics presented included understanding stocks and bonds, how to read a credit report and planning for college. The goal of the program is to build financial capability, especially for some of the 73 million American adults who report that they are just getting by. “Adults choose to come to these events when they have a need. They specifically choose a topic because they want that information. If they can get a strategy to meet that need, there’s a good chance they’re going to use it.” FemPreneur Summit in Lavonia, Michigan, where women discover tips to build their businesses. — Karen Chan, CFP®, Karen Chan Financial Education & Consulting, MSW Partner “Over the past 10 years, we’ve attended events Most Popular 2018 Class Topics that have brought us through retirement planning to estate planning. We’ve implemented knowledge gained from these engaging events Retirement Estate Money Identity Investment Planning Planning Management & Theft Strategy to help make the best financial decisions for our family.” Organization ® 20% 14% 12% 10% 9% — Carol and Phil Battaglia, Money Smart Week attendees MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 STRENGTHENING COMMUNITIES The Money Smart Week® campaign has grown to include thousands of Money Smart Week® partner organizations. These partners provide free sessions and events that help consumers manage challenges across the financial lifecycle. This year, more than 141,000 people attended events thanks to the efforts of our 2,500+ partners. “Money Smart Week grows a strong community because you’re supporting everybody’s interests.” — Sarah Timm, Public Services Manager, Texas A&M University – San Antonio 2500+ 2018 PARTNERS Center for Economic Progress, Mobile Services’ Progress on the Go Bus in Chicago. MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 FOSTERING COLLABORATION Money Smart Week® brings together a diverse group of volunteers working together to strengthen their communities by encouraging participants to become more money-savvy and to use financial services effectively. Empowered consumers are able to make informed choices, use services that are of value to them and have greater control over their financial lives. “It’s about uncovering needs, identifying resources, and then creating innovative programming. Money Smart Week® brokers relationships across diverse sectors and encourages collaboration leading to a maximum positive impact for all involved. We’re more powerful together.” Michigan Girl Scouts at the Livonia Public Library in Michigan learn the components of coins and the process of minting. — Kelly Masters, State Chair, Money Smart Week® Michigan Top 5 States for Event Attendance 2018 MI KS IL WV WI 34,695 31,379 23,654 9,424 8,492 Partners at the Financial Regulations Fair in Chicago providing information on banking, credit and investing. MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 A CATALYST FOR CHANGE In 2018, Money Smart Week® increased outreach to students. High schoolers in 65 classrooms played Cache!, a fun online game that instilled important financial lessons. College students engaged in GeoCache for College Cash, a virtual scavenger hunt featuring personal finance information every student should know. “We have a presence on campus to help students better manage their money. Today, 70% of college students graduate with a significant amount of debt. When they graduate, the average student borrower owes more than $37,000. We’re working collectively to help students understand the Vera Bonner, 2018 GeoCache for College Cash Winner. math behind debt and the importance of building good credit.” — Amy Bickers, Assistant Vice President, Federal Reserve Bank of Chicago 2018 Attendee Feedback 84% likely to apply learnings found value in the session 98% they attended Session on budgeting basics for millennials at Peters Township Public Library in Pennsylvania. MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 ENGAGING THE NEXT GENERATION Money Smart Week® 2018 engaged youth in building healthy financial habits. The Money Smart Week® Kids Read initiative, piloted this year, provided 20,000 free copies of Those Shoes, by Maribeth Boelts. Sponsor Ally Financial also provided copies of Planet Zeee and the Money Tree, by Eric Esquivel and Jeremy Townsend. This program promoted fun ways for children and caregivers to establish the building blocks of saving and goal setting through story time at a local library. Local Money Smart Week Kid competitions engaged students in critical thinking and solving real-life financial issues. “Wisdom that has always stuck with me is first we learn to read, then we read to learn. I think of this as the driving force Money Smart Week® Kid 2018 Winner, Sofia Miceli, and family with Doug Tillett, Vice President, Federal Reserve Bank of Chicago. behind our Kids Read initiative. We want financial education to be a pillar of early learning.” — Venus R. Lockett, State Chair, Money Smart Week® Georgia “I have seen my peers struggle with the topic of personal finance. When one of us gets involved, it starts a domino effect. We become financial ambassadors and educate our peers.” — Sofia Miceli, Money Smart Kid 2018 Winner Kids Read Event with the Future Business Leaders of America in Wisconsin. MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 SPURRING CREATIVITY Money Smart Week® partners found many creative and inventive ways to engage consumers. Some taught classroom style, others held round table discussions or shared slide decks to nudge consumers to take positive actions. Several partners offered self-paced computer- based training on topics such as slashing debt or boosting a credit score. Tweet chats engaged people online, discussing topics such as the economics of home ownership. One Chicago-based partner calls Money Smart Week® “the unlottery” because it helps people succeed based on skills, as opposed to luck. “From kids to adults, the money conversation is a tough topic. If the goal is to get consumers to improve their financial decision making, you need to connect with people, be it through music, fitness, magic shows or merit badges.” — Jacqueline Howard, State Chair, Money Smart Week® North Carolina Gooding and his financial literacy rock band on tour in Michigan. Using the power of music and his own personal story, rock musician Gooding and his band inspire young people, showing them how smart financial decisions will help them see their dreams as possibilities. “My job is for them to suspend disbelief for 10 or 15 minutes, while they’re still in that rock ‘n roll mode, and explain to them that financial literacy gives you the freedom to do what you want with the rest of your life.” – Gooding, Guitar & Vocals Kids at the Money Smart Week® Magic Show in Michigan. MONEY SMART® MISSION MAIN DRIVER COMMUNITIES COLLABORATION CHANGE ENGAGEMENT CREATIVITY MEDIA GROWTH 2018 PARTNERS WEEK 2018 MEDIA COVERAGE Traditional and social media increased the awareness of Money Smart Week® in 2018. For example, we hosted our first ever Facebook Live event with Beth Kobliner, a New York Times bestselling author. Top 5 States in All Categories (2018 Media Mentions) IL TX WI OH MI 190 109 73

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