April 1, 2024 – Augusta – April is Financial Literacy Month and the Finance Authority of Maine (FAME) believes that Maine has room for growth in financial education, as currently only 16% of Maine high school students are required to complete a personal finance course prior to graduation. As a result, many students may not be equipped to handle the basics of money management when they graduate, which could leave them vulnerable and impact their ability to afford higher education. To address this challenge, FAME has developed resources to help Maine people on a path toward financial capability.

“Money Matters for ME” – Learning, Teaching, and Living Personal Finance is a new blog written by Steve Kautz, FAME’s Financial Education Programs Specialist. The blog is intended to entertain, inform, and humanize the topic of finances and is intended for individuals who support, teach, or champion financial education in Maine.

“Launching this new personal finance blog is a testament to our commitment to empowering communities through financial education,” said Mary Dyer, FAME’s Financial Education Programs Manager. “We understand that there isn’t enough time in the day for many schools to adequately address financial education, and we aim to support schools and educators who wish to do more.”

Maine lawmakers recently considered, L.D. 1284, An Act to Require Personal Finance to be Taught as a Separate Course to Obtain a High School Diploma, a bill that would have required all Maine high schools to teach personal finance as a standalone course and require it for a student’s graduation. The Legislature’s Joint Standing Committee on Education and Cultural Affairs amended the bill so that the graduation requirement was removed.

“FAME will continue to work with Maine schools to ensure that all students have access to important personal finance,” noted Dyer. “‘Money Matters for ME’ represents our continued dedication to further empowering educators to expand financial education in their school and community.”

In addition to the new blog, FAME offers a variety of resources and events to support financial wellness in Maine:

• Financial Check-in with FAME Webinar on April 5th: How to Build Financial Freedom When Starting from Scratch: Dr. Sarah Newcomb provides insights from economics and psychology to create a roadmap to financial freedom. Individuals can sign up here.
• Free Online Personal Financial Education: FAME offers free online financial education to support Maine people during high school, college, and beyond through its partnership with Enrich®. Any Maine resident can create their own account and use the interactive modules to learn their money personality, create budgets, and more.
• Claim Your Future®: Created by FAME, Claim Your Future encourages students to explore education after high school, future careers, and money management. It has recently been enhanced to include career comparison tools, expanded student loan decision-making, and career videos. Highly engaging to students, this free game is available as both a classroom game and an online resource.
• Invest in ME Reads: A family financial wellness program created by FAME in partnership with the Consumer Financial Protection Bureau (CFPB) to help parents and caregivers teach and discuss goals, saving, and financial skills. As part of the program, FAME provides free books, educational resources, activities, and tips to all Maine public school students in grades two through five to share at home with their families. Invest in ME Reads is now reaching over 56,000 elementary students across Maine.
• Maine Jumpstart Fostering Financial Education in Maine Schools Conference: FAME is proud to continue its support of the Maine Jumpstart Coalition for Personal Financial Literacy which was recently awarded State Coalition of the Year by the National Jumpstart Coalition for Personal Financial Literacy. The Coalition will also be hosting the 15^th Annual Fostering Financial Education in Maine Schools Conference on May 17^th.
• RaisingME Podcast Feature: Mary Dyer, FAME’s Financial Education Programs Manager, shared insights on WGME’s RaisingME podcast, discussing topics like money mindset and teaching kids about money.

About FAME:
The Finance Authority of Maine (FAME) is a quasi-independent state agency celebrating its fortieth anniversary that provides innovative financial solutions to help Maine citizens pursue business and educational opportunities. FAME also provides valuable financial education resources free to all Maine people. To learn more about FAME, please visit FAME at FAMEmaine.com.