Pennsylvania Auditor General Champions Financial Literacy at Osterhout Free Library

Timothy L. DeFoor, Pennsylvania Auditor GeneralCredit: Commonwealth Media Services

WILKES-BARRE, PA — Auditor General Timothy L. DeFoor made a significant stop at the Osterhout Free Library in Wilkes-Barre on Monday, marking a key moment in his Financial Literacy Month tour. The visit underscored the vital role libraries play in promoting financial literacy and equipping Pennsylvanians with essential life skills, free of charge.

In an era where financial education often takes a backseat in formal schooling, the initiative by DeFoor shines a spotlight on an urgent and often overlooked aspect of personal development. “Pennsylvania libraries offer more than just books—they are a central knowledge hub where you can access a multitude of resources for free,” DeFoor pointed out. His message is clear: Financial literacy is not just an added advantage but a necessity for navigating today’s complex economic landscape.

The Osterhout Free Library, serving Luzerne County, has emerged as a beacon of knowledge, offering materials and services that cater to a wide range of needs—personal, educational, recreational, and professional. DeFoor’s visit to the library is part of a broader effort to encourage community members to leverage such resources to enhance their understanding of financial matters.

Highlighting the ‘Money $mart Monday’ virtual information sessions, a collaborative effort between the Department of the Auditor General and PSECU, DeFoor emphasized the goal of guiding Pennsylvanians toward financial freedom. The sessions, which kick off with practical advice for college students about budgeting, saving, and understanding student loans, aim to lay a solid foundation for financial independence.

“Understanding how to ‘Be Money $mart’ is crucial to Pennsylvania’s future financial success,” DeFoor stated, stressing the importance of early financial education. This initiative is particularly timely, given the increasing complexities of the financial world and the challenges young adults face as they transition from education to full-time employment.

Over nearly three years, DeFoor’s ‘Be Money $mart’ initiative has taken a multi-faceted approach to promoting financial literacy across the state. From embarking on a statewide tour advocating for financial literacy legislation to engaging with students and partnering with local financial institutions, the campaign has sought to weave financial education into the fabric of community life.

The partnership with Harrisburg University of Science and Technology and Members 1st to organize a statewide financial literacy competition for high school students is especially noteworthy. It not only highlights DeFoor’s commitment to instilling financial literacy from an early age but also demonstrates the potential of collaborative efforts in making financial education accessible and engaging.

As the Financial Literacy Month tour continues, the spotlight on libraries like the Osterhout Free Library as vital community resources grows brighter. These institutions, often seen primarily as repositories of books, are revealed as invaluable centers for learning and personal growth, particularly in the realm of financial education.

DeFoor’s advocacy for financial literacy reflects a broader recognition of the need for individuals to navigate financial decisions with confidence and competence. In a world where financial challenges are ever-present, initiatives like those led by the Pennsylvania Auditor General offer a roadmap toward a more financially savvy and secure future for all Pennsylvanians.

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