PRESS RELEASE
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
May 17, 2005
Media Contact:
Jay Rosenstein (202) 898-7303
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-45-2005
FDIC Consumer News Publishes a Special Guide to Money Management
for Young Adults
The latest FDIC Consumer News (Spring 2005) is a special issue devoted to helping
young adults, including those just beginning a career or family and others still in college
or high school, learn the right ways to save and manage money right from the start.
The new publication, entitled “Taking Control of Your Finances: A Special Guide for
Young Adults,” is now available on the FDIC Web site
at www.fdic.gov/consumers/consumer/news/cnspr05. It features:
• Common Mistakes Young Adults Make with Money and How to Avoid Them. These
errors include buying unnecessary items; failing to consider the cost of interest charges
and other fees; getting too deeply in debt; paying bills late or otherwise tarnishing their
credit record; having too many credit cards; and not saving enough for the future
(including retirement).
• A To-Do List for Key Stages of Your Life. The new guide offers ideas young people can
consider at four different times – during high school, during college, when starting a
career and when starting a family.
• A “Financial Aptitude Test” – the F.A.T. Take our interactive quiz, which is based on
the information presented in this special guide.
Other topics include ways to protect against identity theft and other fraud; five things to know
about credit cards and checking accounts; electronic banking services that young people might
find attractive; the right way to fix a problem with a financial institution (including why to put a
complaint in writing and to act as soon as possible); and basic information about FDIC
insurance coverage.
To help make the tips and information in this special edition widely available to young
adults, the FDIC is taking several steps. First, the agency is providing single copies free
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
May 17, 2005
Media Contact:
Jay Rosenstein (202) 898-7303
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-45-2005
FDIC Consumer News Publishes a Special Guide to Money Management
for Young Adults
The latest FDIC Consumer News (Spring 2005) is a special issue devoted to helping
young adults, including those just beginning a career or family and others still in college
or high school, learn the right ways to save and manage money right from the start.
The new publication, entitled “Taking Control of Your Finances: A Special Guide for
Young Adults,” is now available on the FDIC Web site
at www.fdic.gov/consumers/consumer/news/cnspr05. It features:
• Common Mistakes Young Adults Make with Money and How to Avoid Them. These
errors include buying unnecessary items; failing to consider the cost of interest charges
and other fees; getting too deeply in debt; paying bills late or otherwise tarnishing their
credit record; having too many credit cards; and not saving enough for the future
(including retirement).
• A To-Do List for Key Stages of Your Life. The new guide offers ideas young people can
consider at four different times – during high school, during college, when starting a
career and when starting a family.
• A “Financial Aptitude Test” – the F.A.T. Take our interactive quiz, which is based on
the information presented in this special guide.
Other topics include ways to protect against identity theft and other fraud; five things to know
about credit cards and checking accounts; electronic banking services that young people might
find attractive; the right way to fix a problem with a financial institution (including why to put a
complaint in writing and to act as soon as possible); and basic information about FDIC
insurance coverage.
To help make the tips and information in this special edition widely available to young
adults, the FDIC is taking several steps. First, the agency is providing single copies free
of charge through the Federal Citizen Information Center. Consumers can order this
issue online at www.fdic.gov/consumers/consumer/news/cnspr05 or write to: Taking
Control of Your Finances, Pueblo, CO 81009. Second, the FDIC is encouraging
financial institutions, colleges, high schools, consumer groups and the media to reprint
the new guide in whole or in part and to mention or link to the FDIC Web site. The guide
is available on the FDIC Web site in a PDF format that can easily be reproduced in any
quantity, and the back page of this version was intentionally left blank so that an
organization could add its name, logo, a special message and/or self-mailing
information. And, third, the FDIC is preparing a Spanish version of the new guide for
young adults.
The goal of the quarterly FDIC Consumer News is to deliver timely, reliable and
innovative tips and information, free of charge, to help people protect and stretch their
money. Current and past issues appear online
at www.fdic.gov/consumers/consumer/news. The FDIC offers a free subscription
service that provides an e-mail notice about each new issue posted to the Web site and
provides a link to stories of interest. Instructions for subscribing are posted on the FDIC
Web site at www.fdic.gov/about/subscriptions/index.html.
Information in FDIC Consumer News may be reprinted in whole or in part without
permission from the FDIC. Material used should be credited to “FDIC Consumer News,
a publication of the Federal Deposit Insurance Corporation.” Media requests should go
to Jay Rosenstein, the editor, at 202-898-7303 or jrosenstein@fdic.gov.
issue online at www.fdic.gov/consumers/consumer/news/cnspr05 or write to: Taking
Control of Your Finances, Pueblo, CO 81009. Second, the FDIC is encouraging
financial institutions, colleges, high schools, consumer groups and the media to reprint
the new guide in whole or in part and to mention or link to the FDIC Web site. The guide
is available on the FDIC Web site in a PDF format that can easily be reproduced in any
quantity, and the back page of this version was intentionally left blank so that an
organization could add its name, logo, a special message and/or self-mailing
information. And, third, the FDIC is preparing a Spanish version of the new guide for
young adults.
The goal of the quarterly FDIC Consumer News is to deliver timely, reliable and
innovative tips and information, free of charge, to help people protect and stretch their
money. Current and past issues appear online
at www.fdic.gov/consumers/consumer/news. The FDIC offers a free subscription
service that provides an e-mail notice about each new issue posted to the Web site and
provides a link to stories of interest. Instructions for subscribing are posted on the FDIC
Web site at www.fdic.gov/about/subscriptions/index.html.
Information in FDIC Consumer News may be reprinted in whole or in part without
permission from the FDIC. Material used should be credited to “FDIC Consumer News,
a publication of the Federal Deposit Insurance Corporation.” Media requests should go
to Jay Rosenstein, the editor, at 202-898-7303 or jrosenstein@fdic.gov.