Recent NEFE Press Releases

DENVER—Nearly half (47 percent) of U.S. adults say the top financial goal they wish to achieve during their lifetime is having enough money for/in retirement. But getting there is a struggle for many. With NEFE's toolkit, Retirement TLC, human resource professionals can help employees overcome saving barriers by promoting participation in their company's employer-sponsored retirement plans.

NEW ORLEANS—The Radio Television Digital News Association (RTDNA) has bestowed one of its highest honors—the Barney Oldfield Distinguished Service Award—to Patricia Seaman, senior director with the National Endowment for Financial Education.

TUCSON, Ariz.–New research proves that high school and college students who are exposed to cumulative financial education show an increase in financial knowledge, which leads to more responsible financial behavior as they become young adults. Researchers at the University of Arizona say that these early efforts also increase the likelihood that students will pursue more financial education as time goes on. These findings come from the third wave of a landmark study co-funded by the National Endowment for Financial Education.

DENVER—Amid the aftershocks from earthquakes today in Virginia and Colorado and with Hurricane Irene expected to hit the southeastern U.S. in the coming days, many Americans are focused on the potential for weather-related disasters. NEFE offers the following tips to ensure that you and your family are financially prepared for a disaster.

DENVER—For some, the American Dream can be found in the comforts of a modest home surrounded by a white-picket fence. But a new survey from NEFE finds that almost half of American adults say the financial goal that is most important to them is having enough money for retirement.

DENVER—Through the Spendster Reality Check Challenge, NEFE encouraged people to give their spending a reality check—from wasteful habits that are out of control to past purchases that never get used. Entrants who created a video showing their regretful purchases qualified themselves to win one of more than 50 prizes, ranging from $100 to $1,000.

DENVER—'Tis the season—wedding season that is! Summer is the ideal time for tying the knot. But before saying "I Do," there are some important things that couples need to know about how to marry their money with their honey’s money. From the newly-engaged and recently married, to those who are entering a second marriage, NEFE provides these tips on how to talk with your partner about money, establishing joint goals, and even planning a wedding celebration on a budget.

DENVER—A survey finds 59 percent of parents are providing, or have in the past provided, financial support to their adult children when they are no longer in school. The poll was commissioned by the National Endowment for Financial Education, in cooperation with Forbes.com, and conducted by Harris Interactive. The survey explores how the current economic and job landscape is presenting a bigger challenge than expected for those who should be leaving the nest.

DENVER—This weekend’s tornado that ripped through the tiny town of Joplin, Mo., preceded by the storms that wreaked havoc throughout the south early in this 2011 storm season, are difficult reminders that disaster can strike anytime, anywhere. The National Endowment for Financial Education offers these tips to financial issues that disaster victims must address immediately.

DENVER—NEFE is offering an opportunity to help people scrutinize their spending habits with its latest video contest. The Reality Check Challenge asks people to create a video showing what they have wasted their money on and what they should have done with their money instead. Entrants with the most popular stories will win back some of their money, with prizes ranging from $100 to $1,000.

NEW YORK—Representatives from the National Endowment for Financial Education, the creators of the Workplace Financial Fitness Toolkit, and contributing experts gathered at the New York Stock Exchange (NYSE Euronext) Tuesday, April 12, to highlight the new Toolkit as part of its Financial Literacy Week with the ringing of The Opening Bell^SM.

DENVER—Just how much do high school students know about managing money? Government and financial education leaders hope to find out by encouraging teachers to sign up for the 2011 National Financial Capability Challenge, which is open now through April 8, 2011. The Challenge is a free online exam that tests young adults’ knowledge about earning, spending, saving, borrowing, risk protection and more. Top scorers are eligible for scholarships and other awards.

DENVER—A series titled "Developing Your Vision While Attending College" has been co-developed by NEFE and the American Indian College Fund. The four handbooks take students step-by-step through the process of deciding to go to college and, once enrolled, teach them about financial aid and money management.

DENVER—Today Show host Ann Curry reports on the National Endowment for Financial Education survey on financial infidelity and discusses trust issues within couples who combine their finances with personal finance expert Jean Chatzky and psychologist Gail Saltz.

DENVER—The National Endowment for Financial Education (NEFE) has tapped two new members to join its 15-member Board of Trustees. Michael Bedke, J.D., a partner at the Florida office of DLA Piper, one of the world’s largest legal service providers; and Michael Jones, J.D., chief operating officer of Public Broadcasting System (PBS), each will serve two-year terms with the financial education advisory group beginning in January.

DENVER—The Board of Trustees of The National Endowment for Financial Education (NEFE) has appointed Martin Jaffe as chairman. Jaffe, who recently retired as chief operating officer of New York-based Silvercrest Asset Management Group, LLC, joined the NEFE board in 2008. He will lead the 15-member financial education advisory group during 2011.

DENVER—The National Endowment for Financial Education (NEFE), in cooperation with Forbes.com, commissioned an online poll conducted by Harris Interactive in December 2010, finding that 31 percent of people who combined finances with their significant other have been deceptive with their spouse or partner about money. The survey examines overall trust issues within couples who are combining or have combined their finances in a current or past relationship, and describes the types of financial deceptions that are often committed.

DENVER—Recent federal tax legislation signed by President Barack Obama extended some tax cuts that likely will put a little extra money in your paycheck. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is intended to provide relief to more than 100 million middle-class families by preventing an annual tax increase of over $2,000 for the average family. NEFE suggests these tips for using that extra money wisely.

DENVER—With the enrollment of the University of Utah in Salt Lake City, NEFE's financial education resource CashCourse blew past the 500 schools milestone. The number of colleges now using the program stands at 538. In late January, NEFE will host a CashCourse fair on the University of Utah campus, complete with games, giveaways, demos, a money skills workshop for graduating seniors and cash prizes for students.

DENVER—Four in five American adults have made impulse purchases in the past year for themselves, others and/or their home. And, according to an online survey commissioned by the National Endowment for Financial Education, two-thirds of these adults (66 percent) later regretted an impulse purchase. But how many Americans would be willing to make a public confession revealing to the entire country what they wasted their money on? It turns out, when offered a chance at some financial redemption, a lot would.

DENVER—The White House invited NEFE's High School Financial Planning Program® (HSFPP) to teach a lesson on financial basics for the third time in 2010. On November 29, HSFPP director Susan Sharkey met in the Eisenhower building with 17 high school junior and senior girls in first lady Michelle Obama's mentor program.

DENVER—On Thursday, November 4, personal finance expert and NBC’s Today Show financial editor Jean Chatzky visited with host Meredith Vieira to talk about impulse buying. After citing the NEFE-Harris Interactive survey on impulse shopping, Chatzky provided tips on curbing spending that often leads to regret.

DENVER—President Barack Obama announced Tuesday, October 12, his intent to install a new council to help enhance the financial literacy and capability of the American people. Ted Beck, president and CEO of the Denver-based National Endowment for Financial Education is one of the 12 appointments. "I am honored to be appointed to the new council and I commend President Obama for his commitment to this important issue,” says Beck.

DENVER—As fires inch closer to homes near Boulder, Colo., residents are packing their important belongings and escaping the path of destruction. While many are doing their best to protect their homes now, some will face the daunting task of recovering financially from this disaster later. The National Endowment for Financial Education offers these tips to financial issues that disaster victims must address immediately.

DENVER—The 2010 storm season is here, and as hurricanes spin off the Atlantic coast, Americans can’t help but wonder when the next Katrina will hit. Disasters—natural or man-made—can strike quickly and with little warning. While protecting your home and your assets, it’s important to remember to protect your financial security. NEFE offers these tips to ensure that you and your family are financially prepared for an impending disaster.

DENVER—Susan Sharkey has joined the National Endowment for Financial Education as its new director of the NEFE High School Financial Planning Program® (HSFPP). Sharkey will work with schools, teachers and the HSFPP national network to continue the high school program’s legacy of providing free financial education to high school students.

DENVER—The NEFE High School Financial Planning Program® (HSFPP) is the organization’s longest-running and most widely-used program. And for the past six years, John Parfrey has led the initiative through a revision and expanded the program to today’s cumulative impact, with more than seven million books into the hands of students in every state across the country. On July 9, 2010, Parfrey entered retirement and concluded his service with NEFE.

DENVER—Billy J. Hensley, Ph.D., joins the National Endowment for Financial Education as its new director of education. Hensley will lead the organization’s grants and research program, which includes administering grants that facilitate behavioral research, and convening think tanks and colloquia that promote advances in the field. Hensley also will contribute to NEFE’s wide-ranging education initiatives such as K-12 teacher training.

DENVER—On June 16, 2010, Ted Beck, president and CEO of the National Endowment for Financial Education, was called before the U.S. Senate Special Committee on Aging to share the distinguishing badge of NEFE’s years of work on retirement.

DENVER—After years of implementation across the country, the NEFE High School Financial Planning Program® (HSFPP) received one of its most unique and distinguished requests—this time from the White House. On April 23, the State Dining Room transformed into a classroom as Arlington (Va.) Public Schools teacher Lisa Moore gave a 90-minute lesson on budgeting to 13 high school girls in First Lady Michelle Obama’s mentorship program.

DENVER—While 89 percent of K-12 teachers agree that students should either take a financial education course or pass a competency test for high school graduation, relatively few teachers believe they are adequately prepared to teach personal finance topics. In a new study funded by NEFE, researchers at the University of Wisconsin-Madison surveyed more than 1,200 teachers to better understand their training and education in personal finance.

DENVER—When Marilyn Canfield joined the National Endowment for Financial Education in 1999, the organization’s grants program was in its infancy. On the eve of her retirement 11 years later, the NEFE grants program is known for its high-quality research in behavioral economics and contributions to the field through interactive salons and symposia.

DENVER—Ninety-five percent of college students say the economic crisis has impacted their family’s finances and 93 percent have felt an effect on their own financial lives. The crisis also ultimately affected students’ confidence, behavior, trust in financial institutions and overall well-being. Researchers at the University of Arizona recently completed Wave 1.5 of a longitudinal study of how young adults develop financial attitudes and behaviors.

DENVER—The board of trustees of the National Endowment for Financial Education has named Richard Woltmann, JD, chairman for 2010. Woltmann, executive director of Bay Area Legal Services, Inc., in Tampa, Fla., joined the 15-member board in 2005. The NEFE Board of Trustees also welcomes new members Dorothy Bridges and Karen Vahouny as they each begin three-year terms on the NEFE leadership assembly.

DENVER—Urging employees to participate in retirement savings plans has always been a challenge. However, the findings of a study by researchers at Dartmouth College, through a grant provided by the National Endowment for Financial Education, show that specific low-cost strategies succeed in boosting employee participation rates.

DENVER—Research funded by the National Endowment for Financial Education was recognized in November, 2009, by the Association for Financial Counseling and Planning Education (AFCPE). The summary of the research, Teachers’ Background and Capacity to Teach Personal Finance: Results of a National Study, received the “Outstanding Conference Paper” award at AFCPE’s annual conference.

GREENWOOD VILLAGE, COLORADO—That free T-shirt featuring your school logo in exchange for an effortless credit card application is about to become a thing of the past. The major provisions of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act take effect in February, and the new rules include protections for college students and limit the way credit card companies market on campuses.

GREENWOOD VILLAGE, COLORADO—As students across the country make their way onto college campuses, the National Endowment for Financial Education welcomes its 300th school to CashCourse®, a free online financial education resource for colleges and universities.

GREENWOOD VILLAGE, COLORADO—As fires inch closer to homes in the Los Angeles Basin, residents are packing their important belongings and escaping the path of destruction. While many are doing their best to protect their homes now, some will face the daunting task of recovering financially from this disaster later.

GREENWOOD VILLAGE, COLORADO—When President Obama signed the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 in May, the goal was to bestow on consumers more control in their relationship with credit card providers. Although many of the provisions of the CARD Act do not go into effect until February, two considerable changes go into effect today.

GREENWOOD VILLAGE, COLORADO—The National Endowment for Financial Education (NEFE) won the prestigious 2009 Gold Quill Award for excellence in communication, presented by the International Association of Business Communicators (IABC). NEFE captured an Award of Merit in the Social Media category for its Spendster (www.spendster.org) project.

TUCSON, ARIZONA—The last 12 months paint a sobering picture of many corporate giants. When consumers stop using their credit cards, they buckle in days. It's a macro-level reflection of the average American consumer: we live beyond our means, we don't save and we borrow stress with every dollar. Research has shown that poor money management spills over into illness, depression and other problems. But where do these financial behaviors come from? How can we change them? A new study at the University of Arizona hopes to answer these questions and more.

GREENWOOD VILLAGE, COLORADO—The board of the National Endowment for Financial Education (NEFE) has named Jackie Booth, Ph.D., of Orlando, Fla., as chairwoman. Booth joined the board in 2004. Additionally, the NEFE Board of Trustees has appointed two new individuals to serve on the leadership assembly. Pip Coburn and Alexander Gonzalez, Ph.D., recently joined the board, whose 16 members each serve for three years.

INDIANAPOLIS—As the state and nation face a gloomy economic outlook, hundreds of teachers in Indiana have hit the classroom to ensure their students will not have to learn about personal finance from the school of hard knocks. In a public service announcement, Indiana Secretary of State Todd Rokita challenges parents, school administrators and teachers to band together to help improve the financial acumen of high school students in Indiana.

GREENWOOD VILLAGE, COLORADO—As financial and credit markets constrict, a new social media Web site launches that allows people to calculate the true cost of unnecessary purchases, often regretted in hindsight, while they share them via personal videos or photos.

GREENWOOD VILLAGE, COLORADO—Unfair and misleading practices by credit card companies are having a negative impact on the financial future of college students. That was the point of discussion before the Subcommittee on Financial Institutions and Consumer Credit of the United States House of Representatives on June 26, 2008. Brent Neiser, director of Strategic Programs and Alliances for the National Endowment for Financial Education (NEFE), testified at the hearing, which provided an opportunity to explore ways to help college students who are adversely affected by credit cards and consumer debt, and to prevent future problems in this area.

GREENWOOD VILLAGE, COLORADO—The National Endowment for Financial Education (NEFE) has received the Magnum Opus Gold Award for Most Improved Design for its NEFE Digest. This is the first recognition award for the bi-monthly newsletter that publishes feature articles on the foundation’s projects and a comprehensive look at the current state of financial education.

GREENWOOD VILLAGE, COLORADO—Ted Beck, president and CEO of the National Endowment for Financial Education (NEFE), has been appointed chair of the Committee on Outreach by Charles Schwab, chairman of the President’s Advisory Council on Financial Literacy. In his leadership role, Beck will help set the goals for the Council’s outreach activities in the upcoming months, while also serving as a member of the Youth Committee.

WASHINGTON, D.C.—The first-ever National Financial Literacy Challenge, a voluntary online test of personal finance knowledge sponsored by the U.S. Department of Treasury, shows a majority of high school students don’t appear to be learning or retaining the information needed to make important financial decisions. However, on a positive note, 10 high school students were recognized at an awards ceremony in Washington, D.C. on June 17, for achieving a perfect score of 100 percent on the test.

GREENWOOD VILLAGE, COLORADO—The National Endowment for Financial Education (NEFE) has translated its widely-used High School Financial Planning Program® (HSFPP) student guide to Spanish. It is available online for Spanish speakers and teachers to use in learning or teaching about personal finances.

GREENWOOD VILLAGE, COLORADO—President George W. Bush announced Tuesday, January 22, that he signed an executive order to establish an advisory council within the U.S. Department of Treasury “to help keep America competitive and assist the American people in understanding and addressing financial matters.” Ted Beck, president and CEO of the Colorado-based National Endowment for Financial Education, attended the announcement at the White House where he was officially appointed to the President’s Advisory Council on Financial Literacy, a 16-member panel charged with prescribing recommendations on better educating the public on matters related to their finances and their future.

GREENWOOD VILLAGE, COLORADO—The National Endowment for Financial Education (NEFE) now provides an easily-implemented, unbiased and noncommercial financial education solution for colleges, universities and alumni associations to offer to their students. CashCourse, an online financial education resource directed at college students and recent grads, was piloted last fall at several universities through their Web portals.

GREENWOOD VILLAGE, COLORADO—The board of trustees of the National Endowment for Financial Education (NEFE) has appointed Terry Pearce of Larkspur, Calif., as chairman, and named Jackie Booth, Ph.D., of Orlando, Fla., as vice chair. Additionally, the NEFE Board of Trustees has appointed two new individuals to serve the leadership assembly.

GREENWOOD VILLAGE, COLORADO—The Institute for Financial Literacy® has selected the National Endowment for Financial Education (NEFE) as a 2007 recipient for an Excellence in Financial Literacy Education AwardTM (EIFLETM). The National Endowment was recognized in the Institutional Book of the Year for Children in the General Category for its contribution of the NEFE High School Financial Planning Program® (HSFPP).

GREENWOOD VILLAGE, COLORADO—Financial education programs in the research marketplace have proliferated in recent years. Yet, accessible ways to evaluate their effectiveness have not kept pace. Focusing on this challenge, the National Endowment for Financial Education (NEFE) provided a grant to a team of university researchers for creating a powerful assessment tool designed to help educators measure the success of their respective programs. The result of the collaboration led to the development of the NEFE Financial Education Evaluation Toolkit^SM, an innovative resource that now is available online at no cost to users.

GREENWOOD VILLAGE, COLORADO—With the resounding theme of “All across the nation, financial education for a new generation,” the highly-anticipated 2007 edition of the NEFE High School Financial Planning Program® (HSFPP) was officially delivered recently to a national network of representatives who work to ensure the financial well-being of America’s youth.

GREENWOOD VILLAGE, COLORADO—The National Endowment for Financial Education (NEFE) has appointed Sara M. Bentley and Hugh H. Makens, JD, to its Board of Trustees. The new trustees were nominated by the current members of the 14-person board, which is the governing body responsible for setting the policies of the foundation.

GREENWOOD VILLAGE, COLORADO—It’s a refrain that can make the most stoic of parents quake—the voice of a teenager asking, “Mom, dad, can I borrow $500?” A new program is making this conversation, and other discussions of money, easier for teens and parents alike in hopes of creating financially responsible adults.

GREENWOOD VILLAGE, COLORADO—It’s never too early or too late to start saving for life goals. To help individuals achieve financial well-being, there’s a Web site which reaffirms that no matter what stage of life a person may be experiencing, now is the best time for them to get smart about money. The National Endowment for Financial Education (NEFE) has created www.smartaboutmoney.org to help consumers cope with the many financial challenges they will face in their lifetime, by providing a wide variety of practical, unbiased and dependable personal finance resources.