| Mayors across the country will celebrate
"DOLLAR WI$E" week from September 27-October 1, 2004 to promote the Mayors’
National DOLLAR WI$E Campaign: Financial Education for America, established through The
United States Conference of Mayors’ Council for the New American City. Mayor Don
Plusquellic and his fellow mayors recognize that financial illiteracy is a national
problem that needs to be addressed, and have established the "DOLLAR WI$E"
campaign to educate citizens about personal and household financial literacy.  In 2002, more than 1.5 million
families and individuals filed for bankruptcy. Between 1980 and 2002, the level of
personal bankruptcy filings in the nation increased by more than 535 percent. During that
time, various states experienced increased bankruptcies that were double and triple the
national increase. Credit card debt tripled between 1990 and 2000, growing from $240
billion to $690 billion and is currently approaching 1 trillion dollars. Clearly,
statistics show that mayors have a legitimate concern.
"Becoming financially literate is a long-term process
that, for many people, requires assistance from institutions outside the home," said
Plusquellic. "By coming together, our community coalition will help consumers make
informed choices about their finances."
"The most important investors in American cities are
families and individuals. There is no better time than now for our citizens to take
advantage of programs and activities geared toward financial management and
prosperity," said Plusquellic. "Improved financial literacy will result in a
higher standard of living and more stable communities."
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