MONEY SMART WEEK helps consumers manage their MONEY personal finances better. Programs are offered to all demographics and income levels, and cover all facets SMART® of personal finance. WEEK Facebook.com/MoneySmartWeekNational Twitter.com/MoneySmartWeek 2017 ANNUAL REPORT WHAT IS MSW? MAIN DRIVER COMMUNITIES COLLABORATION CATALYST FOR CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS WHAT IS MONEY SMART WEEK? MONEY SMART WEEK 2017 was a public awareness campaign that aimed to help consumers better manage their personal finances by offering thousands of free programs, classes and activities to consumers of all ages. These educational events were carried out by financial institutions, non-profit groups, government agencies, schools, WHERE DID MSW 2017 TAKE PLACE? libraries and more. What began in 2002 as a Chicago-based effort with 40 events and The week April 22-29, 2017 showcased these organizations’ 30 partners has expanded across the entire United States. educational resources, strengthened private-public partnerships, engaged the media, and connected community members with those who could help them learn how to better manage their money. The Federal Reserve Bank of Chicago organized the effort because individuals and communities benefit when consumers make more informed decisions about their personal finances. “When consumers save, invest and make more informed decisions about their financial futures, they increase the likelihood of economic success for their households and the communities in which they live. Attendees 1 24,000 Money Smart Week helps people from all walks of life Events 1 933 build these vital abilities.” — Charles L. Evans, President & Chief Executive Officer, Federal Reserve Bank of Chicago MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK THE MAIN DRIVER IN 2017 Money Smart Week 2017 filled a growing need to build financial capability and wellbeing. People expressed this need in a variety of ways. Parents wanted guidance to start their children off on the right financial foot by teaching them how to save. College graduates sought help in managing student debt. Retirees wanted assistance in order to maximize their social security benefits. “A person needs to be well-rounded in language literacy, mathematical literacy, and financial literacy. People need a springboard for achieving their dreams.” — Zoe Norwood, Librarian, Rockford Public Library Most Popular 2017 Class Topics “We saw a need in 2017 to bring a new focus on financial literacy because of the student debt issue.” Retirement Money Identity Banking Estate Planning Management Theft Services Planning — John Saparilas, Associate Vice President, 19% 12% 10% 9% 9% Wake Technical College, Host for GeoCache or College Cash MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK STRENGTHENING COMMUNITIES IN 2017 Money Smart Week Partners, Planning Teams and National Champions across the country made the campaign happen. These groups were comprised of volunteers from financial institutions, non-profit groups, government agencies, schools and libraries who leveraged their public-private partnerships to connect community members with free educational resources and opportunities. “The campaign serves the organizations delivering presentations as much as the attendees. Two credit unions deliver one presentation together. It really captured the spirit of Money Smart Week.” — Yvonne Fernandez, Federal Reserve Bank of Dallas-El Paso Branch, MSW El Paso Chair “I find Money Smart Week valuable because it brings people together in our communities.Together, we accomplish 2470 things that none of us would be able to 2017 PARTNERS do on our own.” — Kathy Sweedler, University of Illinois Extension, MSW Danville Chair MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK FOSTERING PARTNER COLLABORATION IN 2017 Money Smart Week 2017 Planning Teams supported each other’s success. In 2016, the Money Smart Week Michigan Planning Team organized more than 650 events, reaching +25,000 consumers. The team’s powerful impact inspired the Money Smart Week North Carolina Planning Team to develop a cross-county relationship to support the 2017 campaign. The Michigan Team offered advice on branding, partner communications and structure of work teams. Thanks to this support in 2017, the North Carolina Planning Team oversaw 185 events in their region. Programs included: Kids Read events, GeoCache for College Cash, and Ally Financial’s Wallet Wise classes. The impact was also seen at the governmental level when, after attending a Money Smart Week event, a local policy-maker introduced legislation that would provide funding for increased financial education. 24,000 19,024 18,197 16,981 7,501 “It has been truly exciting to see the M TX KS IL WI Money Smart Week North Carolina Top 5 States in Consumer Attendance (2017) initiative pick up steam. This year we had almost 190 events, and I know that the impact we are having will last a lifetime.” MI TX KS IL WI — Sherrii Webb, Senior Manager, Corporate Citizenship for Ally Financial, MSW North Carolina Co-Chair 24,000 19,024 18,197 16,981 7,501 MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK A CATALYST FOR CHANGE IN 2017 In 2017, Money Smart Week had a presence at national, regional, and local levels. It was through these multiple channels that the campaign helped spur change. “We surveyed the teachers who participated and learned that, as a result of attending an event on retirement saving, many increased their contributions. Many also said they planned to reduce their credit card debt.” — Sandy Wheat, Director, North Carolina Council on Economic Education, MSW North Carolina Co-Chair “I learned I spend a lot more money on 2017 Attendees’ Likeliness to Apply What Was Learned things that aren’t needs. One of my Likely 83% downfalls is trying to overcompensate Unlikely 4% for my kids having one parent. The money Don’t Know 13% I won will go towards next semester’s college tuition.” — Julie Lasky, GeoCache for College Cash 2017 National Winner MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK EMPOWERING PARTICIPANTS IN 2017 Money Smart Week 2017 allowed consumers to tackle a pressing financial need or challenge by providing a place to ask questions, get answers, discover new tools and resources and build confidence. “I live in the city of Las Cruces, NM. It’s a fairly poor city and not very big. It’s is my home and I want my home to be the best it can be. When my community is taken care of, I will work on helping to care for and fix the world.” — Marianna Villalobos, MSW El Paso 2017 Essay Contest Winner, How Would a Money Tree Change Your Life? 2017 Attendee Feedback learned new information from “The class I took has helped me understand that one MSW session 84% needs to save and understand their money spending habits found value in the MSW session in order to secure a good future.” they attended 96% — Koree B., Michigan Money Smart Week 2017 Attendee MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK ENGAGING THE NEXT GENERATION IN 2017 Money Smart Week 2017 attracted young people through events on college savings and contests that prompted them to ask questions and engage others in conversations about money. Particpation among teens and young adults continues to grow. “You can grow your money if you save it and I don’t think people know that. I’ve found some new ways to save money, and it’s got me thinking about which purchases are worth it.” — Lizzy Brahin, Money Smart Week Scavenger Hunt 2017 Winner Most Popular Events (Youth Ages 13-24) “I’ll never forget this experience. Being there with all of the professionals and seeing the strong women in business Banking Teens & Money Credit Investment Services Money Management Counseling Strategy helped me see what success looks like.” 38% 31% 15% 9% 7% — Gabrielle Cisneros, Money Smart Kid Chicago 2017 Winner MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK SPURRING CREATIVITY IN 2017 Money Smart Week partners found many ways to engage consumers and encourage them to eat their “financial broccoli.” Popular 2017 Events • High School Financial Reality Fairs • Facebook Live Events • MSW Magic Shows • Women’s Conferences on Money Management “How do you get people to eat broccoli? Sometimes you have to melt cheese over it. You have to do the Money Smart Kids Read and the Run for the Money Family 5K. — Kelly Masters, Money Smart Week 2017 Michigan Chair Top 5 2017 Presentation Formats “Money Smart Week 2017 gave us that Group Presentation 81% excitement that spurs us to do something Hands-on Workshop 6% different. Everyone loved our volunteers’ Online Game or Contest 5% Facebook Live panel “Retirement from Fair 1% the Other Side.” 1-on-1 Advisory Session 1% — Kathy Sweedler, University of Illinois Extension, Money Smart Week 2017 Danville Chair MONEY ABOUT/WHERE MAIN DRIVER COMMUNITIES COLLABORATION CHANGE EMPOWERING ENGAGING CREATIVE MEDIA GROWTH/PARTNERS SMART® WEEK MEDIA COVERAGE IN 2017 Media played a vital role in the promotion and reach of Money Smart Week 2017 across