More than 2 million Americans filed for bankruptcy in 2005. In fact, according to the U.S. Department of Commerce Bureau of Economic Analysis, Americans spend $1.22 for every $1.00 they earn.
The Financial Literacy campaign aims to reverse this trend by teaching Americans how to take control of their finances and make saving a part of their lifestyle.
The “Feed the Pig†campaign specifically targets those between 25 and 34. Statistics indicate that this group’s financial behaviors, while less established, tend toward debt accumulation. More working time before retirement means that their current financial decisions have a greater impact (positive or negative) on their long-term financial security.
The American Institute of Certified Public Accountants (AICPA) Foundation and the state CPA societies, partnering with the Ad Council, are taking the accounting profession’s highly successful “360 Degrees of Financial Literacy†initiative to the next level by launching a national PSA campaign, Feed the Pig.
The campaign draws upon a traditional savings symbol, the piggy bank, to encourage 25-34 year olds to find the benefits of saving for every stage of life. Until now, no unified, national effort dedicated to changing and improving financial behaviors of young Americans has ever been implemented.
The campaign launched in October 2006.
