MI Money Matters Provides Michiganders with a Virtual Tutor for Financial Empowerment

LANSING, Mich. – As a part of Michigan's Financial Literacy Month, Lt. Governor Garlin Gilchrist II today announced the launch of "MI Money Matters," a free financial empowerment platform for all state residents and beyond.

"Understanding money and navigating through the complexities of managing money can be difficult," said Lt. Governor Gilchrist. "Michiganders of all ages – from young adults going to college to retirees – can be empowered financially by taking advantage of this insightful and free tool provided within the MI Money Matters platform."

Powered by Enrich – a personal finance program endorsed by the National Association of State Treasurers -- MI Money Matters features dynamic tools and courses, delivering a highly personalized and interactive experience that includes a financial behavior assessment that analyzes each user's financial "personality." Individuals who participate gain personal finance insight on topics that include:

• Financial education courses with personalized action plans on topics including budgeting, mortgages, health care, college savings, student loan repayment, banking, credit, financial planning, long-term care, and more.

• Retirement and home affordability analyzers.

• A suite of student loan and higher education tools.

• Personal finance calculators and a real-time budget tool.

"This virtual money tutor provides user-friendly interactive tools, videos, and articles to help individuals understand and manage their financial resources," said State Treasurer Rachael Eubanks. "I encourage all Michiganders to learn how they can be empowered financially."

According to Standard & Poor's Ratings Services Global Financial Literacy Survey, only 57% of adults in the US are considered financially empowered. While 100% of Americans are making decisions with financial impact, only half are equipped to do so.

The launch of the MI Money Matters platform coincides with National Financial Literacy Month and helps raise awareness of the importance of financial wellness and education.

To get started with the MI Money Matters, go to http://www.michigan.gov/mimoneymatters.