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Arizona Saves Receives MMI Foundation Grant | |
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HOUSTON (September 11, 2005) - The Money Management International Financial Education Foundation (the Foundation) today awarded a grant to Arizona Saves for workshops and related programs that encourage savings to low- and moderate-income individuals and families. Personal saving as a percentage of disposable personal income is less than two percent; Americans haven’t saved less since the Great Depression. In fact, many believe that it is increasingly difficult for low- and moderate-income families to save and build wealth. Yet, research shows that there are "savers" and "spenders" in all income classes. Arizona Saves believes that almost all families have the ability to build wealth over time. Through contributions to a workplace retirement program, home purchase, and other savings, during their working years most can accumulate significant assets. The goal of the campaign is to convince all Americans that they can build wealth and to assist them in doing so. “Savings is the cornerstone of financial security. An adequate savings cushion can prevent a minor financial setback from turning into a major financial crisis,” said Julia Ogden, Executive Director for Arizona Saves. “Support from partners like Money Management International is crucial to helping us achieve our mission of convincing all Americans that they can reduce debt and build wealth,” added Ogden. The Foundation operates to educate the general public on sound personal financial skills and money management principles by developing, delivering, and supporting programs that teach those skills and principles. "Money Management International Financial Education Foundation believes in community outreach and is proud to help teach families how to keep more of their income," stated Steve Bucci, President. “Arizona Saves’ goal of helping consumers build self-sufficiency fits the Foundation’s mission,” added Bucci. |
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