2005 Detroit Money Smart Week^SM — Announcement

Second Annual Money Smart Week in Detroit April 17–26, 2005

Members of the Money Smart Advisory Council (MAC) provided a variety of seminars and events to help educate consumers — especially the elderly, the unbanked and young people — in personal finance matters. Although financial illiteracy isn't limited to these demographics, they are the most likely to over-extend their credit, make poor financial choices, become victims of identity theft and potentially seek bankruptcy as a cure for financial woes.

The topics for 2005 included Improving Your Credit History, Saving for College, Retirement Planning and Teaching Children to Save, just to name a few.

The programs, which were designed to enhance the quality of life for individuals who participate, focused primarily on the greater metropolitan Detroit area, defined as Lapeer, Macomb, Monroe, Oakland, St. Clair, Washtenaw and Wayne counties. The MAC planned to expand the programs to include Lansing and other population centers such as Alpena, Bay City, Flint and Grand Rapids in the future.

An enhancement to the 2005 program was the Money Smart Ambassador Contest. Open to high school juniors and seniors in the seven county area, the winner represented the Money Smart Advisory Council at various engagements during their one year reign. The winner received a $10,000 scholarship to attend an accredited college or university of their choosing.