Litigation

National Financial Literacy Month

By John Darer

April 2009 is National Financial Literacy Month in the United States. National Financial Literacy Month is an effort to highlight the importance of financial literacy and teach Americans how to establish and maintain healthy financial habits.  Historically, The Jumpstart Coalition for Personal Financial Literacy began promoting April as Financial Literacy for Youth Month in 2000. This was followed with Congressional support in 2003.

The National Financial Literacy Month presents an opportunity for the members of the structured settlement industry and its trade associations to resolve to (1) make a high standard of financial literacy a pillar of the profession and (2) to encourage and promote financial literacy in others. April is a time that coincides with the NSSTA  annual meeting. In addition the timing of the SSP annual meeting falls within National Finanical Literacy Month.

For starters this author suggests that structured settlement/ settlement planning industry member companies and individuals thoroughly review their websites and marketing materials to assure that accurate information is being disseminated. Inaccurate information dishonors the industry and promotes financial illiteracy. Furthermore, credential puffers or those who exaggerate their credentials need to stop this behavior. This author has been ruthlessly efficient at identifying practices and those that should consider making a major effort to clean up their act. Instead of attempting to interfere with those with whom I have a contractual relationship how about simply cleaning up your act?

As part of an ongoing effort Individuals, companies and trade associations in the industry should make every effort to highlight the importance of financial literacy and teach Americans how to establish and maintain healthy financial habits.

Full post as published by Structured Settlements 4Real on March 25, 2009 (boomark / email).