April is National Financial Literacy Month and to celebrate, the Oklahoma Jump$tart Coalition is observing Money Smart Week, March 30-April 6. Helping to promote financial education statewide, the Oklahoma Society of Certified Public Accountants (OSCPA) is offering free Financial Fitness Kits through almost 100 Oklahoma public libraries, the Northwest Branch of Tinker Federal Credit Union and online at www.KnowWhatCounts.org.
Money Smart Week brings organizations, businesses and schools together to educate Oklahomans about important money issues, and the OSCPA’s free Financial Fitness Kits were created to help Oklahomans year-round with a variety of financial issues.
In the “2019 Prosperity Now Scorecard,” Oklahoma ranked 32nd on the prosperity of its residents compared to the 50 states and the District of Columbia. “Relative to other states, Oklahoma’s performance ranks in the bottom 10 for residents overall, but the gap between white residents and residents of color is narrower,” states the scorecard. While Oklahoma ranked 36th for income volatility, it did fare better than average in Savings & Assets (e.g., Households with Zero Net Worth and Saved for Emergencies) but worse than average in Credit & Debt (Fell Behind on Bills and Borrowers Over 75% Credit Card Limit). Oklahoma also scored better than average in Employment, Entrepreneurship, Homeownership and Housing Affordability (except for High-Cost Mortgage Loans). However, Oklahoma scored much lower than average in the Health and Education categories.
The OSCPA’s free Financial Fitness Kits include sections on establishing a budget, getting out of and staying out of debt, avoiding scams, paying for college and more.
“Each year, we are encouraged by all the positive feedback, so our members want to continue offering the Financial Fitness Kits,” said Amy Welch, APR, CAE, vice president of communications for the OSCPA. “We’re grateful to our partners and public libraries across the state helping us offer this information to Oklahomans.”
The 2019 OSCPA Financial Fitness Kits are sponsored by Tinker Federal Credit Union; Quail Creek Bank; Peters & Chandler, P.C.; and Retirement Investment Advisors. Digital versions of the Financial Fitness Kits can also be downloaded from www.KnowWhatCounts.org.