CHICAGO (March 28, 2019) – The Federal Reserve Bank of Chicago officially kicked off Money Smart Week© 2019 on Thursday, March 28, in a morning event at the Chicago Fed building. Author and University of Chicago professor Harold Pollack delivered the keynote address after the winners of the kids essay contest were announced.
Money Smart Week is a national campaign that offers thousands of free events to help consumers better manage their personal finances. It will be held March 30 through April 6 although some states will continue to host events throughout April. There are more than 500 free events provided by volunteer partners in the Chicagoland area, including Cook, DuPage, Kane, Lake, Will and McHenry counties.
“Money isn’t the most important thing in our life but everything important in your life has some financial aspect,” said Pollack, co-author of The Index Card: Why Personal Finance Doesn’t Have to be Complicated. “No one at any income makes good decisions scrambling to manage their cash flow. I certainly didn’t and don’t.”
When creating a budget, “the goal is not to starve yourself but to ensure that you are spending your money on what gives you the most benefits and joy in your life,” Pollack told an audience of more than 200 people.
Meina Banh, senior policy and innovation advisor of the Consumer Financial Protection Bureau, also gave a presentation on effective financial education for youth.
Winners of this year’s kids essay contest included:
Daniel Gomez of St. Vincent Ferrer Catholic Elementary School, River Forest, finalist.
Amirah Harrington of McKinley Junior High School, South Holland, finalist.
Corina Vinarov of Abraham Lincoln Elementary School, Chicago, finalist.
Charlotte Foster of John W. Garvy Elementary School, Chicago, runner-up.
Torry Rayford of St. Vincent Ferrer Catholic Elementary School, River Forest, runner-up.
Hannah Savella of Larsen Middle School, Elgin, first-place winner.
To register for an event, visit moneysmartweek.org/events.
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About Money Smart Week
Created by the Federal Reserve Bank of Chicago in 2002, Money Smart Week® is a public awareness campaign designed to help consumers better manage their personal finances. This is achieved through the collaboration and coordinated effort of thousands of organizations across the country including businesses, financial institutions, schools, libraries, not-for-profits, government agencies and the media. Programming is offered to all demographics and income levels and covers all facets of personal finance. Partnering organizations will host their events March 30-April 6, 2019. For more information about events or becoming a partner, visit www.moneysmartweek.org.
About the Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation’s central bank. The Chicago Reserve Bank serves the seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.