The celebration, he said, will help community members realize the concept of spending wisely while prices of basic goods continue to soar.
While representatives of banking and financial institutions on Saipan looked on, Tudela signed the Dollar Wise Week proclamation in his office at Afetna Square, San Antonio yesterday.
This year’s theme “Savings for Kids and Families” is a very appropriate message to community members, he said.
The celebration will start from Sept. 21 and end on the 27th.
One of its highlights is the Dollar Wise Symposium on Oct. 4 in the Sabalu Market area in Susupe from 9 a.m. to 12 noon.
Tudela said the symposium will showcase promotional programs that banking institutions offer to the community.
He said the U.S. Conference of Mayors, in collaboration with many community coalition groups throughout the country, continues to work with local banks and other financial institutions to encourage families to help their children open savings accounts and learn from an early age the importance of saving money and making wise financial choices.
Mayors, he said, also recognize that financial illiteracy is a significant threat to national economic security.
They established the Dollar Wise program to help jurisdictions educate their citizens on personal and household finances.
“I’m happy to see a few people show up and they really appreciate what I said that this event will help the community to be educated about saving money,” he told Variety after the proclamation signing.
The proclamation states that “43 percent of American households spend more than they earn each year, 52 percent live paycheck-to-paycheck, and 42 percent do not have enough in liquid financial assets to support themselves for three months, putting millions of families at risk for foreclosure and other financial struggles in addition to harm to family life and other negative effects on children, educational attainment, and physical, mental, and emotional health.”
