TIPS Celebrates National Financial Literacy Month

• Date: 01 January 2024
• Author: Loren D. Podwill

4THE BRIEF❭ Win ter 2024

View from the Chair

April 2024 marked the 21st anniversary of National Finan-

cial Literacy Month. In 2003, the U.S. Senate passed a

resolution ocially designating April as Financial Literacy

Month to raise awareness of the importance of nancial educa-

tion and the consequences of a lack of knowledge about personal

nances. President Obama issued a proclamation in March 2017

highlighting the importance of being nancially capable and

declaring April as National Financial Capability Month.

Financial literacy is a crucial life skill that empowers individu-

als and communities to achieve greater economic independence,

build nancial security, and break the poverty cycle. However, for

many marginalized communities, access to nancial education

and resources has historically been limited. According to the U.S.

Census Bureau, the national poverty rate declined from 2010 to

2019. However, the pandemic changed everything. The lockdown

exposed the most vulnerable populations to uneven economic

recovery. Underserved communities had little or no nancial buf-

fer, and the pandemic exacerbated the problem. Currently, 78% of

Americans reportedly live paycheck to paycheck.

In 2021, members of the TIPS Law in Public Service

Committee (LIPS) became increasingly aware of and

concerned about the nancial impact of the pandemic on

vulnerable populations. Research disclosed the uneven impact

and recovery from the nancial consequences of the pandemic

on historically underserved communities and youth popu-

lations. With the support of the TIPS ocers and Council,

the Financial Literacy Project (FLP) was born. A partnership

between TIPS and its premier sponsor, Thomson Reuters,

the FLP is a free online curriculum comprised of short,

educational video modules aimed to help equip and empower

individuals and communities to achieve sustained nancial

well-being. The goal of the FLP is to promote economic

empowerment by providing individuals with the knowledge

and tools needed to own their nancial future.

The FLP includes a series of videos presented by lawyers

and other professionals with expertise in various substantive

areas covering a range of topics, including budgeting, banking,

tax preparation, buying a car, home ownership, saving for

post-secondary education, debt management, and nancial

planning. Currently, there are 19 completed online modules,

with many more in various stages of production. The curric-

ulum can be accessed through the websites of ABA TIPS and

Thomson Reuters FindLaw.com.

To enhance distribution of the FLP modules, creating

partnerships with community partners is next on the project

to-do list. To that end, we have been in communication with

the National Urban League (NUL) about joining TIPS and

Thomson Reuters as a community partner. The NUL is

a historic civil rights organization dedicated to economic

empowerment, equality, and social justice. Founded in 1910

and with aliates serving 300 communities in 37 states and

the District of Columbia, the NUL spearheads the develop-

ment of social programs and advocates for policies and services

that close the equality gap. The NUL and its aliates provide

direct services and improve the lives of more than two million

people annually. We are optimistic that the NUL will join us

soon. The FLP will also be seeking additional community

partners, the goal of which is to disseminate and make avail-

able the FLP modules to as many people as possible.

Please help us promote the project with your network,

including youth groups, nonprots, nancial institutions,

state and local bar associations, and any other groups you

believe could help disseminate the FLP modules. Help us

get the word out by using the hashtag #nancialliteracy.

Retweet, reshare, and repost our social media as well as shar-

ing the link to the FLP with your contacts. View the main

FindLaw FLP page at https://www.ndlaw.com/p.html

and on the TIPS website at https://www.americanbar.org/

groups/tort_trial_insurance_practice/resources.

Many TIPS and Thomson Reuters volunteers have been

integral to the FLP. With apologies to others not listed, I

want to personally acknowledge and thank TIPS members

Akira Heshiki, Jordan Howlette, Floyd Holloway, Roscoe

Mutz, Tamara Tomomitsu, Reign Karpe, Candace Chuck,

Jin Hwang, Mark Gilcreast, and Lisa Dickinson for their

tireless work on this project. Thanks also to Thomson

Reuters representatives Joe Kubes, Sharon Belton, and Helen

Repass, and TIPS sta Norma Campos, Theresa Livingston,

and Guysheena Gibson. Finally, thanks for the unwavering

support of the TIPS Council and past and future TIPS Chairs

John McMeekin, Gary Gassman, Chris Nolan, Marcy Greer,

and Meade Mitchell.

The FLP is built around the belief that: “Empowering

ourselves changes our lives. Empowering others changes our

communities.” Please join us in our mission and support the

FLP and nancial literacy nationwide. Thank you.Z

TIPS Celebrates National Financial

Literacy Month

By Loren D. Podwill

PUBLISHED IN THE BRIEF, VOLUME 53, NUMBER 2, WINTER 2024. © 2024 BY THE AMERICAN BAR ASSOCIATION. REPRODUCED WITH PERMISSION. ALL RIGHTS RESERVED. THIS INFORMATION OR ANY PORTION THEREOF MAY

NOT BE COPIED OR DISSEMINATED IN ANY FORM OR BY ANY MEANS OR STORED IN AN ELECTRONIC DATABASE OR RETRIEVAL SYSTEM WITHOUT THE EXPRESS WRITTEN CONSENT OF THE AMERICAN BAR ASSOCIATION.

PUBLISHED IN THE BRIEF, VOLUME 53, NUMBER 2, WINTER 2024. © 2024 BY THE AMERICAN BAR ASSOCIATION. REPRODUCED WITH PERMISSION. ALL RIGHTS RESERVED. THIS INFORMATION OR ANY PORTION THEREOF MAY

NOT BE COPIED OR DISSEMINATED IN ANY FORM OR BY ANY MEANS OR STORED IN AN ELECTRONIC DATABASE OR RETRIEVAL SYSTEM WITHOUT THE EXPRESS WRITTEN CONSENT OF THE AMERICAN BAR ASSOCIATION.