Welcome to Empower RI, an initiative of the Office of General Treasurer designed to highlight the importance of understanding how to make your money work through personal financial empowerment.
Far too many Rhode Islanders face challenges that might have been be avoided through a greater understanding of personal finance. If families are more financially stable at home, our entire state will benefit. Financial empowerment can play a role in our economic recovery.
A top priority
Since coming into office, finding innovative ways to help Rhode Islanders better manage their finances has been a top priority of the Treasurer.
From introducing an online financial literacy tool for high school students, to working with financial lending institutions to learn about 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 Empower RI.
What is financial empowerment?
Financial empowerment is when a person is able to make more informed and disciplined choices in an effort to achieve their financial goals and understands the risk of taking on too much debt. Being empowered is setting financial goals through personal planning and having access to the safest and most affordable financial services and products. Financial goals may include:
Steering clear of easy spending
While it is easy to encourage saving, it has never been easier to spend money due to online shopping, targeted advertising and other financial gimmicks.
The need to pay off credit card debt can quickly derail any financial planning goals. And while you are reading this, countless financial services companies are trying to create the next product designed to take advantage of us. Through education you can work to avoid these traps and understand how to responsibly use dependable banking and financial services.
To learn more about the need for Empower RI click here