Treasury’s Bessent: Financial Literacy ‘Fuels the American Dream’

Brian Anderson

2 hours ago

With the beginning of April, the United States is once again observing Financial Literacy Month, a nationwide campaign to help consumers strengthen their financial knowledge and decision-making.

Yesterday, U.S. Secretary of the Treasury Scott Bessent shared remarks reaffirming Treasury’s commitment to advancing financial literacy and education across America. Throughout April, Treasury, in coordination with federal agencies represented on the Financial Literacy and Education Commission (FLEC), will announce and spotlight events, initiatives, and public engagement opportunities to further the mission.

“In my own life experiences, as an Economic historian, and now as the 79th Treasury Secretary it is my firm belief Financial Literacy is what fuels the American Dream. Understanding how to make informed financial decisions unlocks opportunity for every American and their families,” Bessent said. “We live in the greatest country in the history of the world and on the eve of our 250th Anniversary, understanding what has driven our success is the key to our future and what will lead the nation successfully for the next 250 years.”

Americans can visit MyMoney.gov to access centralized guidance and educational tools from across federal departments and agencies to help make informed financial decisions about saving, investing, or planning for major life milestones like education, homeownership, or retirement.

“America’s capital markets are the envy of the world, and engaging with them in a risk-appropriate manner can be foundational for a strong financial future.”
SEC Chair Paul S. Atkins

The Securities and Exchange Commission’s Office of Investor Education and Assistance (OIEA) this week announced that as part of Financial Literacy Month it will highlight financial planning tools and resources on Investor.gov to encourage people to build toward financial independence.

“In the spirit of America’s 250th anniversary, I encourage individuals and families to reflect on the pivotal role that investing can play in achieving their own financial independence,” said SEC Chairman Paul S. Atkins. “America’s capital markets are the envy of the world, and engaging with them in a risk-appropriate manner can be foundational for a strong financial future.”

Staff will also provide investors with information about the benefits of long-term investing using tax-advantaged accounts, building wealth, the power of compound growth, avoiding scams and planning for retirement.

“Investing early helps Americans build wealth for a strong financial future,” said John Moses, Acting Director of the SEC’s OIEA. “A great way to get started is to create a long-term, diversified plan that helps investors reach their goals. Building wealth slowly by regularly setting money aside for investments helps investors benefit from compound growth, which can drive life-changing results over time.”

Originally spearheaded by the Jump$tart Coalition for Personal Financial Literacy and the National Endowment for Financial Education, Financial Literacy Month was formally recognized by the U.S. Senate in 2004.

Schwab Foundation launches new grant program

As Financial Literacy Month brings renewed attention to the importance of practical money skills, Charles Schwab Foundation this week announced the launch of a new annual grant program to encourage fresh thinking and innovative solutions to help advance financial literacy.

Through the Schwab Moneywise Momentum Grants program, Schwab is committing up to $2 million this year to support nonprofit organizations that are taking new and distinctive approaches to expand access to effective financial education, with a priority on helping more people build the practical, relevant money skills they need to prosper in life.

Beginning in May, organizations can submit a Letter of Interest through the online grant portal. Additional details will be available at SchwabMoneywise.com.

“Financial Literacy Month is a timely moment to elevate the conversation, but building financial skills and confidence takes more than a calendar reminder,” said Chris Wyse, Chief Corporate Affairs Officer at Charles Schwab and President and Chair of Charles Schwab Foundation. “At Schwab, we believe everyone deserves access to practical financial education, whether they’re learning for the first time or building on what they already know. Through the Schwab Moneywise Momentum Grants, we’re supporting organizations that demonstrate strong potential to expand access to effective financial education, paving the way for more people—especially young people—to gain the knowledge and confidence to make informed financial decisions that can strengthen families and communities.”