To access this and other archived webinars from the Family Financial Security Webinar Series, access our CFS Webinar Webpage.
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The Center for Financial Security hosts a bi-weekly forum showcasing scholars and their research regarding household finances. The Household Finance Scholars (HFS) Forums are intended to bring together an interdisciplinary group of graduate students, faculty and others at UW Madison interested in sharing ideas and research on topics related to household financial behavior, asset building, financial
literacy and capability, and personal finance. The forums provide an opportunity to present work in progress, learn about
research and funding opportunities and cultivate interest in household finance on campus. Sessions will begin with
approximately 30 minute presentations followed by small group discussion. These times also serve as a platform for problem
solving and information exchange.
To view a calendar of the HFS Forums, click here.
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This quarter's newsletter highlights an upcoming CFS Financial Capability Workshop, CFS's Financial Outcome Measures Project, Researcher Spotlight on Justin Sydnor, CFS in the News and much more. Access this, and other CFS Newsletters at our Newsletter Webpage.
Click Here to view the January CFS Quarterly Newsletter. Would you like to receive the CFS Quarterly Newsletter via email? Click Here to sign up for the CFS e-newsletter.
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The Center for Financial Security has released research findings from eleven projects funded by the Social Security Administration's Financial Literacy Research Consortium (FLRC). As a member of the FLRC, the Center has performed applied research that seeks to understand the financial context of consumers and families, with a special focus on helping vulnerable populations manage assets and debt for retirement and other significant life events. Practitioner/policy briefs and full papers for all of the projects are also available at http://cfs.wisc.edu/publicationlibrary.aspx
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On Tuesday, December 13th, CFS Affiliate, Kristin Eschenfelder presented her research which examined the activities public libraries use to increase the financial literacy of their service populations. Her presentation included an overview of an analysis of the finance-related hyperlinks contained on a sample of Wisconsin public library websites, findings of interviews with librarians about their perceptions of the challenges of offering financial-literacy based information and services while also summarizing the results of on-site and remote examinations of the physical collections at each library site where interviews were conducted. Discussants Billy Hensley of NEFE and Ken Hall of Fond Du Lac, WI Public Library offered their in-the-field expertise.
To View the Archived Webinar:
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CFS Affiliate, Jonathan Spader, presented research on the use of VITA sites to encourage retirement savings contribution credit, specifically the "Saver's Credit" program. In his presentation, "Encouraging the Use of Retirement Savings Contribution Credit through VITA Sites," Spader addressed the usefulness of VITA sites as mechanisms to encourage the utilization of Saver's Credit, how outreach campaigns should be designed, what factors are most important to VITA clients' retirement savings decisions, and finally potentials for the Saver's Credit to increase retirement savings among VITA clients. Discussants for the webinar, Jackie Lynn Coleman of National Community Tax Coalition and Richard Keeling of the Internal Revenue Service offered their in-the-field expertise.
Click Here to access Archived webinar
Click here to view the PowerPoint for the November 8th presentation
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Join CFS Affiliate, J. Michael Collins presented on a recent paper looking into emergency savings. Emergency savings serves as a form of insurance against non-routine expenditures such as medical bills or car repair. Collin's paper investigates 80 articles about savings and households' ability to access cash quickly to meet unexpected expenses. In his presentation, "Coming Up with Cash in a Pinch: Emergency Savings and its Alternatives," Collins highlighted some of the conclusions the articles arrived at, one being that lower-income and minority households are less prepared to handle short-term demands for cash. Discussants for the webinar, Pamela Chan of New America and Mae Watson Grote of The Financial Clinic offered their in-the-field expertise. To access the archived webinar click on the link below.
Click here to View the Archived Webinar!
Webinar PowerPoint Available Here.
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The Association of Public Policy Analysis and Management (APPAM) 2011 Fall Research Conference will again include a number of panels and papers that highlight new asset-based research that directly inform current practice and policy debates. The New America Foundation is hosting a pre-conference reception and discussion of recent developments and groundbreaking work.
If you are attending APPAM and would like to go to the event, please click here for details and registration.
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The Center's Quarterly Newsletter was recently distributed to CFS research partners, collaborators, and friends. This quarter's letter highlights a conference on rebuilding financial stability, the launching of CFS' quarterly newsletter dedicated to financial coaching, Researcher Spotlight on project assistant Carly Urban, CFS in the News and much more.
Archived Newsletter Now Available.
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As part of the 2011-2012 CFS Family Financial Security Webinar Series, Stephanie Moulton, Assistant Professor, The Ohio State University John Glenn School of Public Affairs, and CFS Affiliate, presented "Financial Education for First-Time Homebuyers" on Tuesday, September 13th. Moulton's discussion provided information on integrating interactive technology with individualized coaching during a teachable moment - the purchase of a first home. Discussants for the webinar were Chris Herbert, Research Director, Harvard University Joint Center for Housing Studies, and Geoffrey Cooper, Director, Single Family Housing at WHEDA.
Click Here to view the Archived Webinar!
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Following a two year term as Associate Director, Dr. Kristi Shook-Slack was appointed Director of the University of Wisconsin - Madison School of Social Work. Professor Slack is a nationally recognized expert on the intersection of welfare and child protective service (CPS) systems, as well as on the role of poverty in the etiology of child neglect. In addition to serving as the School’s Director, Dr. Slack will continue in her role as the co-Director of the Center on Child Welfare Policy and Practice, an interdisciplinary research collaboration between the School of Social Work and the Institute for Research on Poverty as well as her affiliation with CFS.
View the full story on the UW-Madison School of Social Work Website.
Recently, Kristi Shook-Slack took part in one of the center's webinars as part of the 2011-2012 Family Financial Security Webinar Series. You can view Professor Slack's webinar "Integrating Financial Education into Traditional Family Support Services" on the webinar webpage.
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This past Thursday, Karen Holden, Professor Emerita of Consumer Science at UW-Madison and CFS Affiliate spoke with Larry Meiller on Wisconsin Public Radio's Ideas Network Station. Holden introduces Meiller and listeners to effective teaching tools for aquainting children with the concepts of money, budgeting, and saving, referencing her recent efforts with the Sesame Street Workshop. Recently, Professor Holden served as a consultant on the famed children's show project, "For Me, For You, For Later: First Steps to Spending, Sharing, and Saving."
Listen to the full interview on Larry Meiller's Morning Show, archived on the WPR website.
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On Tuesday, August 16th, as part of the Family Financial Security Webinar Series, Professor and Associate Director of UW-Madison School of Social Work, Kristi Shook Slack, discussed the successes and challenges of integrating financial education services into voluntary family support programs. Many traditional family support services ascribe to a philosophy of family-defined needs and service goals. This strengths-based approach to working with families is often pivotal for successful engagement in program services. However, many families, particularly those struggling economically, may not readily identify financial planning or education as a primary need. Training family support staff to assess and identify such needs can be one strategy for ensuring families make informed choices about their income and spending. Discussants for the webinar were Margaret Sherraden, Professor of Social Work at the University of Missouri St. Louis and Jonathan Mintz, Commissioner of the New York City Department of Consumer Affairs.
View Archived Webinar.
For more information on CFS webinars, access our Family Financial Security Webinar Series Page.
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In an effort to demonstrate the work and data sharing UW Cooperative Extension produces for its stakeholders, Chancellor of University of Wisconsin Colleges and UW-Extension, Ray Cross, asked staff to provide anecdotes of work within the community. J. Michael Collins, CFS Director, spoke on behalf of the Center's work, mentioning the 7,700 Dane County residents that were reached though one-on-one financial counseling and free income tax assistance.
Read the full story at the UW-Extension Website.
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An article in the Fiscal Times mentions CFS for its research on retirement savings for working women. The news story focused on women’s preparedness for retirement, going on to say that women are far less prepared for retirement than their male counterparts. On average, women have an income 42% lower than men in their retirement years. CFS affiliate, Karen Holden, is currently lead researcher on the center’s project “Increasing Retirement Savings by Working Women: Understanding and Reducing Contribution Differentials” which seeks to understand savings choices and bolster women’s participation in workplace-based savings programs.
Access the full article, "The Growing Retirement Nightmare for Women," on the Fiscal Times website.
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There has been growing attention and efforts towards integrating asset-building activities in the free tax preparation process. MoneyUP—an initiative of United Way of New York City with lead partner, The Financial Clinic—was among some of the first fully combined financial coaching and tax preparation with year-round supports models in the country. On August 9 at 2pm EDT, The Financial Clinic will host a virtual presentation on MoneyUP—from challenges to accomplishments to a recent evaluation. CFS Faculty Director, J. Michael Collins, will highlight his evaluation of MoneyUP’s impact and efficacy. Jennifer Jones Austin, Senior Vice President from United Way of New York City, will discuss the program model from a funder’s perspective (ie. defining success, scalability). Haidee Cabusora, Director of Services at The Financial Clinic will conclude with strategies for transforming the initiative’s results into policy changes that create more opportunities and vehicles to build working poor families’ financial security.
Register Now for this free virtual presentation!
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The CFS and the New America Foundation co-hosted the Rebuilding Financial Stability Conference in Washington D.C. on Wednesday, June 29th. The event brought together government regulators and experts on financial services regulations and social welfare programs to discuss how families utilize various liquid savings and credit options to meet their financial needs and how we as a nation can best repair the road and make the journey to financial stability a safer one. Keynote speaker, Governor Sarah Bloom Raskin of the Federal Reserve System’s Board of Governors, offered her perspective on economic inclusion, and its importance for our nation's economic health. CFS Faculty Director, J. Michael Collins served as panelist on the first panel "Discovering the Potholes in the Road." To view Dr. Collins presentation as well as the rest of the conference highlights, check out archived video from the conference.
Access the archived video from the conference on the conference homepage or by clicking here.
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Chuck Miller, of ProManage LLC, interviewed Dave Wolfe, a partner with the law firm of Drinker Biddle & Reath LLP and a member of the ProManage Advisory Board about the expansion of ERISA's fiduciary investment advisor rules. Chuck is doing a series of interviews for ProManage with thought leaders who shape the defined contribution plan industry. David Wolfe explains the new ERISA regulations and how they affect investment advisers, plan sponsors, and participants.
Access the full interview on the ProManage website.
CFS' J. Michael Collins was featured in the June ProManage LLC newsletter. Access the full interview.
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In a Channel 27 news story on the United States debt ceiling, CFS Affiliate Justin Sydnor was interviewed on what impacts the country might expect from the debt ceiling. Sydnor, an Economist in the School of Business at UW-Madison, explains to WKOW reporter Greg Neumann, that the first things to happen would be a stoppage of regular government payments such as Social Security checks. He goes on to say that reaching a debt ceiling would likely shake investor's confidence and, as a result, produce adverse effects in the stock market. Check out Sydnor's full interview at WKOW.com.
Access article on the Channel 27 WKOW website.
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The UW-Employee Assistance Office, OHRD, OHR and UW-Extension and Colleges Employee Assistance Office are offering a seminar open to all UW Employees, "Financial Strategies When Your Income Drops." Deb Neubauer of the Financial Education Center through UW Extension and Kathy Hetzel, Dodge County Family Living Educator, will both be presenting at the seminar. This presentation will provide tools and tips to manage your finances when faced with a drop in income. Learn strategies on re-setting goals, setting new spending plans and re-evaluating your financial situation.
The event will take place:
Financial Strategies When Your Income Drops - Seminar
Wednesday, July 13 + Tuesday, July 19 + Wednesday, July 20, 2011
12:00-1:30pm
1022 Wisconsin Institutes for Medical Research
Register for this event! (note: this event is only offered to UW employees)
If you are unable to attend in person or prefer to view the archived video in of this presentation from your computer at your convenience.
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The Center's Quarterly Newsletter was recently distributed to CFS research partners, collaborators, and friends. This quarter's letter highlights a workshop investigating the intersection between financial capabilities and domestic violence, Project Spotlight on Public Libraries as Financial Literacy Providers, Researcher Spotlight on project assistant Drew Anderson, CFS in the News and much more.
Archived Newsletter Now Available.
For this and all other CFS Archived Newsletters, access the Center's Newsletter Archive Webpage.
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The President’s Advisory
Council on Financial Capability
(‘‘Council’’) will convene its third
meeting on July 12, 2011 via audio
webcast beginning at 2:30 p.m. Eastern
Time. The webcast will be open to the
public. Details about how to access the
audio webcast will be posted on the
Treasury’s Office of Financial Education
and Financial Access’ web site. The Council will receive a
report from the Council’s
subcommittees (Financial Access,
Research and Evaluation, Partnerships,
and Youth) on their progress and
discuss any possible recommendations.
Access the live webcast on Tuesday, July 12th at 1:30 CDT / 2:30 EDT.
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In the June issue of ProManage LLC's newsletter, PROspective, affiliate Chuck Miller interviews CFS Faculty Director, J. Michael Collins about his extensive research on financial advice and advisors. As part of an interview series of leaders who shape the defined contribution plan industry, Dr. Collins offers his knowledge on effective financial advice services, current problems with services, things to look out for as a recipient of financial advice, and more.
Access the full interview on the ProManage website.
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In his Sunday column Wealth Matters, Paul Sullivan writes about kids attending summer finance camps to learn money skills. CFS Affiliates Wendy Way and Karen Holden's National Endowment for Financial Education (NEFE) funded research Teachers' Background and Capacity to Teach Personal Finance is referenced in the article.
Access the full article.
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On Tuesday, June 28th, Dr. Wendy Way, Professor and Associate Dean of Undergraduate and Graduate Academic Programs and CFS Affiliate, presented her research as part of the center's 2011 CFS Webinar Series. Way highlighted her research from an earlier CFS project "Harnessing the Power of Technology to Enhance Financial Literacy & Personal Financial Well-Being." Discussants Nick Maynard of Doorways 2 Dreams Fund (D2D) and Bruce Spates of FINRA Investor Education brought to the table their expertise on the use of online games for financial education. The webinar examined behavioral and educational theories that provide insight into how digital pedagogies may support personal-finance-related teaching and learning. The full archived webinar is now available.
Access the full archived webinar.
For this and other CFS archived webinars, access the 2011 CFS Webinar Series Page.
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During the past two school years, the Center for Financial Security has been involved in the Money $mart in Head Start program, which delivers financial capability services to Head Start families across 16 Wisconsin counties. Local Head Start programs and UW - Cooperative Extension offices collaborate in promoting and delivering three financial capability building services to Head Start families: monthly financial newsletters, financial literacy workshops, and financial coaching. The Money $mart in Head Start program represents an innovative approach to collaborating across organizations to reach a financially vulnerable population. This recent CFS issue brief describes the Money $mart in Head Start in detail and highlights some key findings from survey data collected during the project.
Access the full brief here.
For this, and other CFS issue briefs, check out our Publication Library.
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At a recent conference held in Beijing, China, UW-Madison Professor and CFS Affiliate, Wendy Way presented her paper "The Role of Education in Nurturing Positive Consumer Finance Behavior: A Review of the Literature, Proposed Models, and Research Agenda." At the conference, Asia-Pacific Conference of the Association for Consumer Research, individuals from 24 countries were in attendance and over 150 papers were presented. Dr. Way's paper was honored at the conference, receiving the "Best Paper" award.
Way's paper along with all other presenters will be published in a proceeding document that is forthcoming from the Association of Consumer Research.
You can access additional information regarding the event happenings at the conference event page.
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The road to financial stability is filled with potholes. Aspiring families with limited means and low incomes face many challenges in managing their finances, often juggling a portfolio of emergency credit and precautionary savings products to make ends meet. Unfortunately, the savings and credit options available to lower-income Americans often end up eroding the household balance sheet further because of mismatches in product design or unhelpful practices that make it difficult for consumers to determine the value of a particular financial service. How can policymakers best repair the road and make the journey to financial stability a safer one?
On Wednesday, June 29th, researchers and practitioners will shine a light on the road to financial stability at the conference hosted by the Congressional Savings and Ownership Caucus, The Asset Building Program of the New America Foundation, and CFS. The event will take place in Washington, D.C. with a live webcast of the event provided on the event website. Look forward to an archived taping of the event, also available on the conference webpage.
Access the conference homepage and event invitation.
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On June 16th and 17th, the Pathways to Financial Success Conference, Raising the Bar: Personal Finance and Economic Recovery Conference was held at the Chula Vista Hotel and Resort in the Wisconsin Dells. The conference was hosted by the Center for Financial Security, UW Cooperative Extension, and the Institute for Research on Poverty. Focusing on the recovery from the recession, recent federal legislative changes and projected effects on the financial security of individuals and families in Wisconsin, the conference convened financial educators and other professionals who are active in financial literacy, counseling, crisis, intervention, or financial planning.
Access presenter's PowerPoints and biographies, conference brochures, and general information at the UW-Extension site.
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Robert Pollak recently visited UW-Madison as part of UW’s Financial Literacy and Disability Project. During his visit Professor Pollak delivered a seminar titled, “Family Geography: Proximity and Care-giving,” which explored how family geography evolves as parents age. In this podcast, Professor Pollak highlights some of the key findings from his research on family geography, explores the limits of technological advances for family’s long term care needs, and describes some of the implications of an aging American populace.
Listen to Dr. Pollak's Podcast.
For this and other CFS Podcasts visit our Media Page.
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On Tuesday, May 17, 2011, The Center for Financial Security, the U.S. Department of the Treasury, and the Social Security Administration hosted the workshop "Exploring the Intersection Between Financial Capability and Domestic Violence". The workshop took place in the Cash Room of the U.S. Department of the Treasury, in Washington, D.C.. The intention of the meeting was to bring together researchers, practitioners, policy makers, and others from various fields to have a deep and rich discussion on the interaction of domestic violence and financial capability. Six presenters and four discussants, laid down the groundwork towards shaping a blueprint for future exploration of the intersection of financial capability and domestic violence over the life course.
All of the workshop's presentations and briefs can be found on the Workshop Webpage.
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Karen Holden, CFS Affiliate and Professor Emerita of Consumer Science at the University of Wisconsin - Madison served as an adviser on the recently launched Sesame Street financial education initiative: "For Me, for You, for Later: First Steps to Spending, Sharing, and Saving." The non-profit behind Sesame Street, Sesame Workshop, developed the project along with PNC Bank and PNC Grow Up Great. The 10-year $100 million investment will help young children between the ages of 3 to 5 prepare for success in school and life.
Earlier this week, PBS NewsHour published a video clip from the Sesame Street financial education initiative, "Sesame Street Tells You How to Get Sunnier Days Financially."
Access the full article at University of Wisconsin-Madison Online News.
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A CFS issue brief from the recent workshop hosted by the CFS, the U.S. Department of the Treasury, and the Social Security Administration,"Summary of Workshop Proceedings: Exploring the Intersection between Financial Capability and Domestic Violence" is now available. Highlights of the brief written by CFS Project Assistant, Leah Gjertson, include major issues brought up in the workshop, innovative strategies for resolving such issues, strategies for practice, next directions for research in the field, and more.
View the Summary of Workshop Proceedings.
Access the issue brief and all other briefs from the workshop on the Workshop Webpage.
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On Tuesday June 28th, Professor Wendy Way will present her research on the use of technology to augment financial literacy education. The development and use of technology-based tools for financial literacy education has grown rapidly in recent years, often based on the presumption that digital media will enhance past practice. However, little attention has been given to understanding why such technologies may be expected to enhance outcomes for either general or vulnerable populations. In her presentation, Wendy Way will fill this gap by examining behavioral and educational theories that provide insight into how digital pedagogies may support personal-finance-related teaching and learning. Dr. Way will be accompanied by two discussants: Nick Maynard, the Director of Innovation at Dreams 2 Doorways (D2D) and Bruce Spates, Associate Director at FINRA Investor Education.
The webinar will take place:
Tuesday, June 28th
1-2pm CDT / 2-3pm EDT
Click Here to REGISTER for the webinar!
Corresponding Working Paper and Brief
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CFS Faculty Director, J. Michael Collins, presented today at the St. Louis Federal Reserve Board "Holding Promise, but Raising the Bar: Moving Towards More Robust evaluation of programs Seeking to Improve Personal Financial Capability." In his presentation, Dr. Collins highlights evidence from studies performed on financial education programs in the workplace, one in particular involving financial capability programs for credit union employees of Wisconsin. His research points to notion that in order to change behavior, more support than just information is needed.
Access the full presentation.
View this and other presentation from CFS Affiliates on the CFS Presentations Page.
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In conjunction with the Financial Security Project at Boston College, the Squared Away Blog: Frontiers in Financial Literacy provides practitioners with current research, field work, and any other financial information that might help them “do a better job of helping American of all ages act in their own financial best interest.” A most recent blog post highlighted Pamela Herd’s webinar “Financial Literacy – Is It Really About Cognitive Functioning.” In the blog post, “High School Influences Life Knowledge,” author Kimberly Blanton, details the research presented in the May 10th webinar and quotes Herd saying, “Cognition matters. Early life cognition measures are strongly associated with my late-life [financial literacy] measure.”
View full blog post at 
Access Power Point, Archived Webinar, and Corresponding Paper on CFS 2011 Webinar Page.
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On May 10th, 2011 Pamela Herd, Assistant Professor at the University of Wisconsin-Madison and CFS Affiliate presented in an online webinar Financial Literacy -- Is It Really About Cognitive Functioning? along with discussant Jeanne Hogarth of the Federal Reserve Board. In her discussion, Dr. Herd highlighted finding from her research on early-life cognition and late life financial literacy while Dr. Hogarth extended her in-the-field expertise. The full webinar is available for viewing on the CFS Website.
Access this, and other archived CFS webinars on the 2011 CFS Webinar Series Page.
Access the full webinar from May 10th.
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This Thursday, as part of the Financial Literacy and Disability Project, Robert Pollak will give a talk Family Geography: Proximity and Caregiving. The Financial Literacy and Disability Project is co-sponsored by the Center for Financial Security, the Institute for Research on Poverty, and the La Follette School of Public Affairs. Robert Pollak is the Hernreich Distinguished Professor of Economics at the Arts and Sciences and Olin Business School at Washington University in St. Louis and has long worked on family bargaining issues.
The Seminar will be held:
Thursday, May 12 12:15pm - 1:30pm
8417 Sewell Social Sciences
UW-Madison Campus
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In a new Mortgage Bankers Association study, CFS Faculty Director, J. Michael Collins and outreach Specialist, Collin O'Rourke, demonstrate in their research that potential homeowners who participate in pre-purchase education and counseling programs may be more likely to pay their mortgages on time. The study, Homeownership Education and Counseling: Do We Know Whay Works? was sponsored by MBA's Research Institute for Housing America (RIHA). In recent articles, Dr. Collins is quoted, "Over the past decade, concerns have been raised about the extent to which Americans as a whole are sufficiently financially literate to make the complex decisions required in the ever-changing financial marketplace."
Access article on MBA Newslink.
Access other article on Beyond Housing site.
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In this podcast, Dr. Carolina Reid of the Federal Reserve Bank of
San Francisco discusses the adequacy of consumer protections for
lower-income homebuyers. She discusses how her research relates to
recent federal policy changes, including the Dodd-Frank Act, and what
her research suggests for policy and practice going forward. Reid
discusses the lag between changes in the marketplace and regulatory
responses to these changes, and she responds to the claim that
government interventions into the economy--including consumer
protections in the mortgage market--harm market efficiency and lead to
unintended consequences.
To listen to the podcast, please click here.
* Please
note the views expressed in this podcast are those of Dr. Reid and do
not necessarily reflect those of the Federal Reserve, the Board of
Governors, or other members of the staff.
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Karen Holden, CFS Affiliate and Professor Emerita of Consumer Science at the University of Wisconsin - Madison served as an adviser on the recently launched Sesame Street financial education initiative: "For Me, for You, for Later: First Steps to Spending, Sharing, and Saving." The non-profit behind Sesame Street, Sesame Workshop, developed the project along with PNC Bank and PNC Grow Up Great. The 10-year $100 million investment will help young children between the ages of 3 to 5 prepare for success in school and life.
Access the full article at University of Wisconsin-Madison Online News.
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On Thursday, June 9th, the Center for Financial Security's Faculty Director, J. Michael Collins, will present at the Wisconsin Real Estate and Economic Outlook Conference: New Partnerships: Government and Real Estate. The conference, hosted at the Fluno Center on the UW-Madison Campus, will explore how the new regulatory landscape will affect the size and scope of activity in the real estate and financial services industries. Collins will serve on the panel, "Financial Reforms and Affordable Housing: What Works." Keynote Speakers for the conference include Elizabeth Warren, Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial protection Bureau (invited); Scott Walker, Governor of Wisconsin (invited); and Michael Knetter, President and CEO of the University of Wisconsin Foundation and former dean of the Wisconsin School of Business.
For more information, including brochure and link to registration, access the Wisconsin School of Business site.
The conference will be held:
New Partnerships: Government and Real Estate
Thursday, June 9, 2011
Fluno Center on UW-Madison Campus
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As part of the 2010-2011 Lecture Series: Financial Literacy & Disability, University Distinguished Professor and Chair of the Burton Blatt Institute for Disability, Syracuse University, Peter Blanck will deliver two lectures on the UW-Madison campus. The Center for Financial Security co-sponsors this lecture series, along with UW Financial Literacy & Disability Project, Department of Pediatrics, the Center for Global Health (FACES Group), La Follette School of Public Policy, and the Institute for Research on Poverty. Blanck will be presenting two lectures entitled, "Conceptions of Disability Past and Present" and "The Future of Disability Law and Policy."
The lectures will be held at:
"Conceptions of Disability Past and Present"
Thursday, May 5th 4-5pm CDT
Wiley Conference Center Auditorium
UW-Madison Campus
"The Future of Disability Law and Policy"
Friday, May 6th 10-11am CDT
8417 Social Sciences Building
UW-Madison Campus
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The National League of Cities, Institute for Youth, Education, and Families will host a webinar: Financial Literacy at the Local Level: Ensuring Residents Survive and Thrive in Today's Financial Marketplace. CFS Faculty Director, J. Michael Collins will discuss successful strategies and new ideas for promoting financial literacy within comunities along with Marco Cavarin, City of San Fransisco.
The webinar will take place:
Tuesday, May 3rd, 2011
2pm CDT / 3pm EDT
For this and other CFS Presentations, visit the Presentation Page.
For instructions on how to RSVP to the webinar access the full article at Washington Asset Building Coalition Blog.
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This Thursday, visiting scholar Carolina Reid, will present at the Financial Security, Literacy, and Public Policy Seminar Series hosted by the Institute for Research on Poverty and the CFS. Reid is manager of the Research Group in the Community Develop Department at the Federal Reserve Bank of San Fransisco. Her work includes analysis of the impact of state anti-predatory lending laws on mortgage market outcomes, loan modification outcomes, and the disposition of Real Estate Owned (REO) properties in suburban markets. Carolina Reid's presentation will be free and open to the public.
Carolina Reid's Presentation will take place:
Thursday, May 5th, 2011 12:15-1:30 pm CDT
8417 Social Sciences Building, UW-Madison Campus
Madison, WI
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In the April 2011 Issue of Badger Parent: A Newsletter for Parents and Families of UW-Madison Students, J. Michael Collins provides readers with advice on how to approach money management issues when preparing for college expenses. The article, "Student Money Management: Experts Share Their Tips," Collins and colleague Robert McCalla share important suggestions for managing your money both before and during the college years. Dr. Collins is quoted, "I would say it [money management] is a great discussion for the week after graduation from
high school. Start planning ahead, get everything in place."
For more tips, Access the Full Article.
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On April 28 and 29, the Federal Reserve Bank of San Fransisco hosted the 2011 Federal Reserve Community Affairs Research Conference: The Changing Landscape of Community Development. The conference, hosted in Arlington, Virginia, included CFS Affiliate, Max Schmeiser, and Faculty Director, J. Michael Collins as presenter and discussant, respectively. Schmeiser's presentation, "Estimating the Effects of Foreclosure Counseling for Troubled Borrowers," highlighted his research on the implications of counseling programs for vulnerable populations. The conference focused on linking research with policy and practice in low-income communities that point the way to a more inclusive vision of sustainable economic recovery.
View Max Schmeiser's Presentation.
Access this and other CFS Presentations at the CFS Presentation Page.
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Last Thursday, Assistant Professor of Sociology and African American Studies at the University of Illinois at Urbana-Champaign, Ruby Mendhenall, presented her research at the Financial Security, Literacy, and Public Policy Seminar Series hosted by the Institute for Research on Poverty and the CFS. Mendenhall's research highlights the investment habits of individuals receiving the Earned Income Tax Credit (EITC) and the associated barriers and pathways to social mobility. Ruby Mendenhall also sat down with the CFS that day to answer a few questions regarding her work.
Access this and other CFS Podcasts on our Podcast Page.
Archived Podcast
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On Tuesday, April 19th, Katherine Anne Dahlem, Senior Associate at Abt. Associates, Inc. discussed findings from several focus groups in her presentation, "Attitudes Towards Savings and Financial Education Amongst People with Disabilities" as part of the 2011 CFS Webinar Series. Karen Harris, Director Asset Opportunities Unit at the Sargent Shriver National Center on Poverty Law, offered up her in-the-field expertise as a discussant on the webinar. The archived webinar and corresponding power point slides can be viewed on our 2011 CFS Webinar Series Page.
Archived Webinar
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A CFS survey conducted in 2010 looked at the results of MoneyUP, an innovative program designed to help low-income people get a grip on their finances and save for the future. The program offered free tax preparation for low income New Yorkers and encouraged customers to engage in additional year-round financial coaching focused on goal setting, debt reduction, and savings building. A Huffington Pose article, “Teach a Man to Fish: Providing Tax Help for Needy Families this Season,” referenced this CFS survey. The survey revealed that “MoneyUp customers greatly benefited from year-round coaching and were more likely than other low-income New Yorkers to achieve long-term financial security."
Access the full article at the Huffington Post.
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Jeanne Hogarth, who directs the Consumer Education and Research Section within the Consumer and Community Affairs Division of the Federal Reserve, was recently interviewed during her visit to UW-Madison. Dr. Hogarth visited the University as part of the Financial Security, Liteacy, and Public Policy Seminar Series. Her presentation for this event was titled "Financial Literacy for Low Income People: Lessons from Soldiers and Implications for Financial Reform." In her podcast, she discusses 1) how she became involved in researching financial literacy among member of the military, 2) key findings of her work for policy and practice, and 3) the centrality of psychology to personal financial management.
Listen to Dr. Hogarth's podcast.
Access other archived CFS podcasts under our Media Section.
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In an editorial in today's Wall Street Journal, CEO of ING Direct, Arkadi Kuhlmann highlights the work of a CFS Researcher, Stephanie Moulton. In the article, entitled "Putting the 'Own' Bank in Homeowner," Kuhlmann points to Moulton's findings that low income borrower loans perform better when loans are with local lenders. Stephanie Moulton is an Associate Professor at Ohio State University and is a leader of a CFS project aiming to integrate interactive online education with individualized telephone coaching to test their effectiveness for first time homebuyers.
Access full article at the Wall Street Journal.
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As part of the 2011 CFS Webinar Series, the Center will host its third webinar "Financial Education -- Is It Really About Cognitive Functioning?" Presenter Pamela Herd, Associate Professor of Public Affairs and Sociology, will detail findings from her research on the links between early-life cognition and schooling experiences and late-life financial literacy. The discussant for the event will be Jeanne Hogarth, Program Manager Consumer Education and Research Section Division of Consumer and Community Affairs, Federal Reserve Board, offering her in-the-field expertise. The webinar will take place on May 10th, 2011 at 1:00pm CDT/ 2:00pm EDT.
REGISTER FOR THE WEBINAR.
Access this and other webinars on our 2011 CFS Webinar Series Page.
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The CFS' Q2 Newsletter is now available. Highlights include:
CFS Researcher Spotlight: Stephanie Moulton
Visiting Scholar: Margaret Sherraden
CFS Project Spotlight: Tax Refunds and Savings Behavior: Developing Soft-Commitment Opportunities
CFS Issue Brief: Integrating Financial Capacity Building into Public Programs
And much more...
View this Quarter's Newsletter here.
You can also visit our Newsletter Archive and see Q1 and Q2 Newsletters.
You can register for the CFS Mailing List to receive the newsletter, event invitations, and other Center information here.
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April is National Financial Literacy Month and in honor of the occasion, the
CFS website has an entire section devoted to "Your Money." The page
provides a host of online informational resources to help individuals
take charge of their financial responsibilities. The CFS Your Money Page offers an array of resources celebrating National Financial Literacy Month.
Access the CFS Your Money Page.
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Jason Seligman, Associate Professor at Ohio State University and CFS researcher was quoted in the Chicago Tribune article, "Fewer Americans Confident They'll Have Enough Money for Retirement." Highlighted for his research on retirement savings, Seligman explained how the highest income group may be overestimating their savings for retirement.
Access Full Article.
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The 2011 Pathways to Financial Success conference, hosted by CFS, UW Cooperative Extension, and Institute for Research on Poverty will focus on recovery from the recession, recent federal legislative changes and projected effects on the financial security of individuals and families in Wisconsin. All financial educators and other professionals who are active in financial literacy, counseling, crisis intervention, or financial planning are encouraged to attend.
The event will take place at: Chula Vista Hotel and Resort Wisconsin Dells, WI June 16-17, 2011
This event is generously sponsored by:
CBM Credit Education Foundation, Inc.
Summit Credit Union
WPS Bank
See a full conference brochure online, including information on how to register.
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Attention high school educators! Are your students up for a Challenge? Here’s your chance to check their financial knowledge! Sign up to administer the 2011 National Financial Capability Challenge to your students at challenge.treas.gov or click on the link provided.
Sponsored by the U.S. Department of the Treasury in partnership with the U.S. Department of Education, the Challenge is a free, voluntary, online series of financial questions for high school students to check their knowledge of earning, spending, saving, borrowing, risk protection, and more. All high school educators are encouraged to sign up to administer the Challenge to their students and to help spread the word to other high school educators across the nation.
Administration of this year’s Challenge runs from March 7 through April 8, 2011.
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The Journal of Media Literacy interviewed Constance Steinkuehler about her work as chair of the Games, Learning, and Society (GLS) Conference. The GLS is an innovative collection of researchers, developers, government and industry leaders who investigate how gaming transforms learning and impacts culture. Steinkuehler is a researcher on the CFS 14 project "Social Network Sites and Internet Forums: An Investigation of Interactions around Personal Finance in the Online Social World."
Access Interview and Full Story.
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As part of the Financial Capability Innovation Fund, Co-opportunity, Inc. is partnering with the United Way of Central & Northeastern Connecticut, Hello Wallet, and the CFS for the project, "iCoach2Win." This project uses technology to enhance the effectiveness of the exiting Volunteer Budgeting Coaching Program (BCP), positioning it for future growth and replication. Co-opportunity will transform its current program, combining social interaction and money management tools with individualized planning support. The CFS will help Co-opportunity test and evaluate the results.
Access Full Story.
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Earlier this month, the Center for Financial Services Innovation (CFSI) announced a group of five non-profit recipients of the Financial Capability Innovation Fund. Today one recipient, Filene Research Institute's, project was highlighted at CFSI's website. The LIFT Project, short for The Low Interest for Timeliness Project, targets vulnerable and growing low-to-moderate income customers with sub-prime credit. The Center for Financial Security is working with Filene Research Institute as an evaluation partner on the LIFT Project.
Access Full Story.
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The UW Alumni Magazine, On Wisconsin, highlighted the Center for Financial Security in its Spring 2011 issue. The article, entitled "Money Worries: A new UW center is exploring what Americans need to know about their Finances," shed light on recent happenings at the CFS and emphasized the CFS research focus on vulnerable populations.
Full Article at On Wisconsin Online Magazine.
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On Friday, February 25, 2011, The Disability Studies Cluster at UW-Madison will put on a Symposium entitled "Boundaries of Disability." A range of topics surrounding disability will be discussed at four scheduled panels throughout the day. Highlights of the agenda include "The Problems with Designed Public Labor Market Policy for Persons with Disabilities" and "Disability and Technology." For more information on the location and itinerary of this event access the Symposium Agenda.
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Stephanie Moulton, assistant professor at Ohio State University and CFS researcher, was referenced in The Columbus Dispatch for her work with the Federal Housing Finance Agency. Moulton's project examined the role local banks play in preventing foreclosure. Stephanie is currently working with the CFS as a lead researcher on FLRC Project: "Field Experiment on the Impacts of Financial Planning Interventions for Recent Homebuyers," where she is conducting field experiments with the Ohio Housing Finance Agency.
Full Article at The Columbus Dispatch.
Stephanie Moulton's work on CFS-5 Project.
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A recent article at reuters.com highlights the February 15, 2011, CFS Webinar: Financial Advice: Who Gets It and Who Doesn't? Explaining his findings from recent paper "A Review of Financial Advice Models and the Take-Up of Financial Advice,” CFS Faculty Director J. Michael Collins spoke on the accessibility of financial advice.
Full Article at Reuter's website.
View Archived Webinar and Powerpoint.
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HelloWallet,
an independent wealth-boosting service that increases savings and
reduces debt for its members, recently announced the appointment of eight
leading academics and researchers to their Academic Advisory Board (AAB). The newly appointed members consist of leaders in personal finance,
behavioral psychology, behavioral economics and simulation modeling. CFS researcher, J. Michael Collins is honored as one of the eight appointments.
Full Article at HelloWallet website.
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Constance Steinkuehler, partnering with CFS researchers Wendy Way and Nancy Wong on FLRC project "Going Viral: How the Internet and social media are key to spreading financial information", chairs The Games + Learning + Society (GLS) Conference 7.0. The GLS Conference will be held in the UW-Madison Memorial Union June 15-17, 2011.
More information on the conference: GLS Conference.
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The Center for Financial Security partner, The University of Wisconsin-Extension, provides
numerous guides and materials related to financial education including
information on Managing Your Personal Finances in Tough Times.
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On Tuesday February 15th, the Center hosted its first webinar as part of the CFS 2011 Webinar Series. The webinar, "Financial Advice: Who Gets it and Who Doesn't?," was comprised of Faculty Director, J. Michael Collins, presenting his research on the impacts of financial advice with two discussants, Donna Taglianetti and Emily Waterbury, providing their expertise on financial counseling.
Watch the Archived Webinar.
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On Tuesday February 22nd at 12pm CST, CFS researcher and faculty director, J. Michael Collins will present "Policy Responses to Mortgage Closure - Is There Any Hope?" at the La Follette School of Public Affairs. This presentation will be based on three papers, one on foreclosure counseling, another on loan modification rates and income, and lastly some preliminary work examining the effects of mortgage mediation policies.
More information on the La Follette School of Public Affairs website.
Abstract of one of the articles to be discussed in presentation.
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Affiliates of the Institute for Research on Poverty, Timothy Smeeding, Lawrence Berger and J. Michael Collins received honors from the John D. and Catherine T. MacArthur Foundation to investigate the role housing plays in the long-term health and well-being of children, families and communities. The team will explore unique data sets to assess the effects of income support payments on family residential stability in the face of falling housing prices and long-term joblessness.
Full Article
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New York City Mayor Michael Bloomberg announced in his January 19, 2011, State of the City Address that public funding will be allocated to support the Financial Empowerment Centers. Bloomberg said, "At the same time, we'll help more New Yorkers stay self-sufficient, by taking a privately funded pilot program - the one-on-one counseling at our Financial Empowerment Centers - and use public funds to expand those critical services, which will help more residents eliminate their debt and increase their savings."
The Financial Clinic, the Queens Financial Empowerment Center provider, has enabled citizens of the borough to make immense strides in their financial lives, accumulating savings often for the first time while overcoming debt that crippled their opportunity to advance financially. Since inception, the Clinic’s Financial Empowerment Center have helped nearly 2000 New Yorkers reduce more than $500,000 in debt and accumulate over $170,000 in savings. The Center for Financial Security is proud to partner with the Mayor's Office of Financial Empowerment (http://www.nyc.gov/html/ofe/html/home/home.shtml) through research supported by the Social Security Administration Financial Literacy Research Consortium.
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Using a national model of Financial Coaching training, Joan Sprain and Peggy Olive from UW-Extension, in cooperation with the Center for Financial Security, will provide a 1-day training session on strategies for financial coaches.
Space is limited and the cost to participate is $40. For more information regarding the program and registration, click here.
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The Center for Financial Security is hosting the 2011 Center for Financial Security Webinar Series to provide participants with an opportunity to learn about the Center’s research related to financial security and also engage with our research team to address participant questions and interest in a variety of areas.
On Tuesday February 15th 2:00-3:00 EST/1:00-2:00 CST, the Center for Financial Security’s own Faculty Director, J. Michael Collins will be presenting on the impacts of financial advice from his recent research, Financial Advice: Who Gets It and Who Doesn’t?. For this first webinar, the CFS is honored to host expert discussants Donna Taglianetti and Emily Waterbury. The CFS invites you to join us in the inaugural webinar event, Click Here to register.
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Two members of the Consumer Science Department at the University of Wisconsin, Madison have come up with an innovative way to provide financial services to a hard-to-reach demographic while also nurturing the next generation of financial planners, and the CFP Board has awarded them a grant to help them do it. To read the full feature, click here.
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