Raimondo is using a new name, Empower RI, to ramp up her financial literacy initiative

Oct 15, 2012

State Treasurer Gina Raimondo is focusing attention on her newly branded financial-literacy initiative, “Empower RI,” starting with an event tomorrow at the Comprehensive Community Action Program in Warwick:

Via news release:

Far too many Rhode Islanders face challenges that might have been avoided through a greater understanding of personal finance,” Raimondo said. “If families are more financially stable at home, our entire state will benefit. Financial empowerment can play a role in our economic recovery.”

Since coming into office, finding innovative ways to help Rhode Islanders better manage their finances has been a top priority for Raimondo. From introducing an online financial literacy tool for high school students, to working with financial lending institutions to learn how they educate consumers about safe and affordable options, she is committed to finding ways to strengthen Rhode Island’s economy one person at a time through this initiative.    

Senator Jack Reed will join Raimondo for the 10 am event. The treasurer cites these details in underscoring the need for greater financial literacy:

  • 67 percent of Rhode Islanders say they have difficulty covering expenses and paying bills
  • Only 36 percent have emergency funds
  • Over 30 percent have no retirement plans and 62 percent have not even figured out their retirement needs

At the same time, the initiative could help Raimondo to stay in the public eye in the run-up to 2014.