CHICAGO, April 25, 2018 (GLOBE NEWSWIRE) -- The Center for Financial Services Innovation (CFSI) today observes the third annual #FinHealthMatters Day. While a majority of Americans overall struggle with financial health, this year’s day of awareness focuses on the financial health of college students – 75% of whom aren’t sure they could come up with $1,000 in the next month, and the 63% of community college students living paycheck to paycheck.
“The numbers show that a college diploma is more important than ever to future earning potential,” said Jennifer Tescher, founder and CEO of CFSI. “But beyond student loan debt, our data calls out a disturbing trend of college students struggling with basic financial health issues even while at school.”
The 2018 #FinHealthMatters Day is designed to highlight this urgent issue and help draw attention to solutions that can set students on a path to improved financial health now and far into the future. Anyone can participate by sharing stories of student-related financial health issues, solutions or goals by tweeting using the hashtag #FinHealthMatters.
In its first two years alone, #FinHealthMatters Day has resulted in 19 million total impressions and counting as part of news stories, blog posts and social media activity. More information and social images can be found at https://goo.gl/Q35X4P.
This year, organizations ranging from Google Play to Credit Karma to UnidosUS, as well as FICO, Fiserv, Quicken and Omidyar Network, are committed to participation in this important day, along with a number of the nation’s largest banks and credit unions. Google Play, for example, will showcase a special curated collection of apps designed to improve peoples’ financial health. MetLife Foundation, a founding sponsor of CFSI’s financial health work, also plans to participate. In addition, there will be a special April 25 Facebook Live event as part of the “Road to Financial Wellness” tour, featuring some of the country’s top personal finance bloggers talking about issues related to student financial health.
Financial health is achieved when an individual’s daily financial system functions well and increases the likelihood of financial resilience and opportunity. The U.S. Financial Diaries Project found many American families cope with financial health challenges by attempting to stabilize spending, borrowing money, struggling to save, and sharing resources with friends and family. More can be done to help them -- just as people that eat balanced diets and exercise are more likely to avoid disease, people with regular savings habits and access to affordable credit are more likely to avoid bankruptcy, handle unexpected expenses and be prepared for retirement.
About CFSI
The Center for Financial Services Innovation (CFSI) is the nation’s authority on consumer financial health. CFSI leads a network of financial services innovators committed to building a more robust financial services marketplace with higher quality products and services, specifically for those who are struggling. Through its Compass Principles and a lineup of proprietary research, insights, and events, CFSI informs, advises, and connects members of its network to seed the innovation that will transform the financial services landscape. For more on CFSI, go to www.cfsinnovation.org and follow us on Twitter at @CFSInnovation.
Media Contacts:
Shannon Austin
CFSI
saustin@cfsinnovation.org
703-338-8813
Michael Azzano
Cosmo PR for CFSI
michael@cosmo-pr.com
415-596-1978