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Money Smart

Money Smart Newsletter

November 2022

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Last Updated: November 29, 2022
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In This Issue

November Monthly Message from the FDIC

National Entrepreneurship Month is observed every November. Starting and owning a business has always been a key path to the American Dream — a way to build wealth, serve your neighbors, and leave a mark in a community and on the world.   According to the White House, “Every day, American entrepreneurs combine passion, resilience, and ingenuity to solve hard problems and create products and businesses that improve our lives.” During National Entrepreneurship Month, we celebrate the doers, dreamers, and job creators, whose vision and grit fuel our economy and capture the essence of America. 

If you are planning on teaching Money Smart sessions that will include people who are thinking about starting a small business or want to learn more, please consider using the following resources:

Join us on social media using the #FDICMoneySmart and show us the Money Smart products in action!

Upcoming Money Smart for Small Business Train-The-Trainer

The FDIC will host the Fourth Quarter Money Smart for Small Business Train-The-Trainer Webinar on December 15, 2022 from 1:30 PM to 3:00 PM ET. This webinar is directed to banks, organizations, and anyone interested in teaching financial education using our free instructor-led program.

Prospective trainers will learn how to use the Money Smart for Small Business financial education curriculum to help entrepreneurs enhance their money skills and create positive banking relationships. This training will provide: an overview of the Money Smart Program, an orientation on Money Smart course content, materials/resources, best practices for presenting and engaging audiences, and recommendations for identifying outreach and collaboration partners to help achieve an optimal impact for clients and consumers. You can find more information, including registration information, here.

Latest FDIC Consumer News Edition

The November 2022 edition of the FDIC Consumer News is titled “Servicemembers on the Move” and it provides tips to Servicemembers moving to a new location. Read it here.

Latest FDIC National Survey Finds Record Low, Six Million Households Remain Unbanked

The FDIC National Survey of Unbanked and Underbanked Households has been conducted every two years, since 2009, in response to a statutory mandate. The survey is administered in partnership with the U.S. Census Bureau and collects information on bank account ownership; use of prepaid cards and nonbank online payment services; use of nonbank money orders, check cashing, and money transfer services; and use of bank and nonbank credit.

Despite unprecedented economic challenges posed by the COVID-19 pandemic, nearly 96 percent of U.S. households were banked in 2021, according to the latest national survey released by the FDIC. The FDIC 2021 National Survey of Unbanked and Underbanked Households also found an estimated 4.5 percent of U.S. households (representing 5.9 million households), lacked a bank or credit union account, the lowest national unbanked rate since the FDIC survey began in 2009. Learn more about our biennial survey here.

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