For a provider of financial education in your workplace, go to www.pfeef.org and click on Quality Providers.
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Increase Your Company's Productivity through Financial Education
Employers can now estimate the value of providing financial education workshops to their employees through our ROI (Return on Investment) calculator. Go to www.personalfinancefoundation.org
to use this valuable tool. If you use
one of our affiliated organizations to educate your employees through workshops, online courses, or money coaching, we will work with you to do pre-and post-testing to show how your company has increased its productivity.
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SULLIVAN AWARD RECIPIENT
Dr. Aimee D. Prawitz, Professor of Family, Consumer, and Nutrition Sciences at Northern Illinois University (NIU) and Director of Research for the Personal Finance Employee Education Foundation, is the 2010 recipient of the Sullivan Award for Excellence in Research for NIU's College of Health and Human Sciences.
Prawitz has completed numerous research projects based on antecedents and consequences of financial wellness/financial distress. In addition to her work with PFEEF to promote financial education in the workplace and her regular responsibilities as an NIU professor, she also works with faculty in the College of Health and Human Sciences as Assistant to the Dean for Research.
Her role in this capacity is to empower colleagues to expand their research and grant-seeking capacities. Prawitz also is devoted to guiding and mentoring students through their thesis research projects and the later publication of their work. A passionate researcher herself, Prawitz has conducted and published over 40 research studies and has made dozens of research presentations at national conferences.
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Welcome to the Personal Finance Employee Education Foundation Newsletter
Please join others in staying informed about the importance of Employee Personal Finance education through our monthly newsletter.
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PFEEF's Mission
To promote and facilitate financial education in the workplace. The PFW Scale™, Return on Investment Calculator, the Financial Education Providers List, as well as other resources will enable employers to understand that employees who have their finances in order will be more productive.
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Featured Employer
PFEEF recognizes the Wisconsin Credit Union League as its "Featured Employer" for its ground breaking work on the Investor Education in Your Workplace Program which recently won the Governor's Award for Financial Literacy.
Over the past year the Wisconsin Credit Union League collaborated with the University of Wisconsin-Madison and partners to recruit over 80 credit unions and 3000 employees to complete 10 hours of online investor education materials with remarkable results. Employees participating in the program completed over 30,000 hours of online coursework in less than 22 weeks improving their pre-test scores from an average of roughly 60% by about 28% points with final passing grades of roughly 88%.
Furthermore, preliminary research being conducted by the University of Wisconsin-Madison indicates that, in addition to demonstrating measurable changes in knowledge, participants are also demonstrating positive changes in behavior that improve the bottom line for themselves and their employers. For more information on this program please contact John Hoffmire at UW-Madison at hoffmire@wisc.edu
This project is being funded by a grant from the Investor Protection Trust (IPT), a nonprofit organization devoted to investor education. Since 1993 the IPT has worked with the states to provide the independent, objective investor education needed by all Americans to make informed investment decisions. Visit www.investorprotection.org.
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| Half of Americans Save, Half Don't
The proportion of adult Americans who say they have been able to save money within the past 12 months splits practically down the middle, according to a new survey by the American Institute of CPAs and Harris Interactive.
The survey found that 54% of the 1,009 adult Americans polled say they have not been able to save money over the past 12 months, but 46% said they have. Those who managed to save money said they did so by curtailing their spending.
Most of their cutbacks were on discretionary items, such as dining out (50%), travel (46%) and clothing (35%), though 31% of the savers said they've curtailed home renovations. Much smaller proportions of the respondents said they reduced outlays for medical expenses (16%) and higher education (12%).
The overwhelming majority of savers are optimistic about their future saving practices, saying they expect to save either as much (44%) or more than they are now (44%).
"Saving is an essential element of financial literacy," says Jordan Amin, chair of the AICPA National CPA Financial Literacy Commission. "But financial literacy, more than anything, is thinking strategically about your saving and spending. We never say 'don't spend,' but we do urge people to judge spending prudently," he adds.
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Gallup Information on Well Being
Gallup conducted a comprehensive global study of more than 150 countries, giving us a lens into the wellbeing of more than 98% of the world's population. From Afghanistan to Zimbabwe, we asked hundreds of questions about health, wealth, relationships, jobs, and communities. We then compared these results to how people experience their days and evaluate their lives overall. They found that financial security has much more influence on overall well-being than income alone.
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We appreciate your interest in the Foundation.
Sincerely,
Judith Cohart, President
Personal Finance Employee Education Foundation Inc
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