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News Release

New Jersey Department of
Banking and Insurance


Commissioner Tom Considine

For Immediate Release:
February 2, 2012

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064



Commissioner Considine Presents Financial Literacy Program
to Marist High School Seniors


BAYONNE New Jersey Department of Banking and Insurance Commissioner Tom Considine provided students with advice and tips about budgeting, credit and more during a financial literacy program at his alma mater, Marist High School in Bayonne, today. Commissioner Considine also discussed the importance of checking and savings accounts, guarding against identity theft and financial planning.

“We weren’t as focused on financial literacy back when I went to high school and that's why a lot of people my age have had trouble,” said Considine. “As book smart as you are, it’s just as important to be financially smart. The financial decisions you make now and during your college years will affect the whole rest of your life.”

 
  Commissioner Tom Considine speaks at his alma mater, Marist High School in Bayonne.

Throughout the year, DOBI and its public and private sector partners invite school districts to participate in this ongoing financial education project. Since 2006, the state-wide Financial Literacy program has reached more than 30,000 students in more than 300 public high schools from all 21 counties.

Also, a new financial literacy high school graduation requirement began in New Jersey last year with the 2010-2011 grade nine class. All students will take at least 2.5-credits in financial, economic, business and entrepreneurial literacy. By graduation, students will demonstrate an understanding about how the economy works and their own role in the economy and develop the necessary skills to effectively manage personal finances.

Commissioner Considine added, “First thing is you need to make sure you don’t spend more than you’re bringing in. You can begin this by tracking everything you spend and writing it down for a month to get a handle on your finances. Then you should figure out your budget and implement it. Most importantly you must save, save, save. Pay yourself first, like you would any other bill.”

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