Senator Leibham urges residents to take advantage of Money Smart Week

The effects of the current economic recession have been felt deeply and widely, with millions of individuals and families nation-wide struggling to make ends meet. Sadly, this economic rough patch has resulted in double-digit unemployment rates and an unprecedented amount of life-changing bankruptcies and home foreclosures.

In 2008 alone, over 20,000 Wisconsin citizens – and over one million individuals nationwide – filed for bankruptcy in U.S. Bankruptcy Court. In addition, the Wisconsin Realtors Association estimates that over 19,000 Wisconsin homes were in some sort of foreclosure last year. Unfortunately, 2009 is not looking any better than 2008.

As the recession wears on, it is more important than ever for citizens to become educated about their personal finances. That is why I strongly encourage you to mark the days of Oct. 10-17 on your calendar as Money Smart Week Wisconsin. The week will offer dozens of free seminars and presentations all designed to improve financial literacy for all Wisconsin residents.

Money Smart has become an important annual event in the Lakeshore Area, with hundreds of educational presentations attended by thousands of residents over the last few years. Presentations cover such important topics as automobile financing, personal budgeting and saving, credit, home buying, identity theft, income taxes, insurance, retirement planning and student loans.

This year, over 200 presentations have been planned to take place throughout Sheboygan, Manitowoc and Fond du Lac Counties. The event is a truly educational experience, and attendees may be assured of a pressure-free learning environment without having to listen to a sales or advertising pitch, as Money Smart presenters are not allowed to promote themselves or their businesses. Instead, it is a great opportunity for businesses to help educate our citizens on important financial matters.

The Money Smart financial learning opportunities are not limited to adults. There is something for people of all ages, including a fun program entitled “Penny the Pig,” which teaches children under 10 years of age how to save, spend, invest and donate. Innovative programs like this have earned our area Money Smart programs the well-deserved reputation of being among the best in the state, winning wide-ranging acclaim from organizations like the Wisconsin Department of Financial Institutions and even the Chicago Federal Reserve.

In the past, I have had the privilege of attending the kickoff of Money Smart Week and I have been very impressed with the program offerings. Based upon the information I have seen regarding this year’s programs, I strongly encourage all area citizens to plan on attending one or more of the events in an effort to become more “Money Smart.”

If you would like more information on the time and location of specific Money Smart events in your area, please call my office toll-free at (888) 295-8750. You may also find a detailed itinerary at the Money Smart Web site at MoneySmartWi.org.

As always, it has been a pleasure communicating with you. Please remember to communicate with me and share your input by calling (888) 295-8750, writing to me at P.O. Box 7882, Madison, WI 53707-7882, or by e-mailing me at Sen.Leibham@legis.wi.gov. You can also logon to the 9th Senate District online office at www.leibhamsenate.com. It is an honor representing the residents of the 9th District in the State Senate.