BY BRITNIE MONAGHAN for WEEKLY VOLCANO 4/3/26 |
This is a great time to work on your financial goals, increasing savings and reducing debt.
Financial Capability Month is a great time to brush up on your financial knowledge and skills and work to strengthen your financial life. What could you do better? What could you change? These are important questions to ask yourself year-round, not just for Financial Capability Month, but the awareness month is a great time to get started.
Since this month is also focused on exploring resources, we want to take this opportunity to highlight those from the Department of Financial Institutions (DFI) and some of our partners.
DFI’s Financial Education Site
DFI’s financial education pages provide information on banking and budgeting, student loans, retirement, investing, and everything in between. Just go to dfi.wa.gov and click on the “Financial Education” button in the middle of the page.
To learn how to identify, prevent, and report financial fraud, visit dfi.wa.gov/10b. These pages are designed to help you learn how to keep your financial life safe from scammers.
Consumer Financial Protection Bureau
While printed materials are no longer available, the federal Consumer Financial Protection Bureau’s online resource library is extensive. This federal agency was created after the financial crisis of the early 2000s in recognition of the lack of financial education many of us received in school. Consumerfinance.gov/consumer-tools/ is the place to start. Whether you are looking for information for yourself, your kids, or your parents, it is likely available on the CFPB’s site.
Financial Education Public-Private Partnership (FEPPP)
While there is currently no statewide legislative mandate requiring financial education to be taught in our state’s K-12 classrooms, many teachers in our state already provide this as part of their regular coursework. The Financial Education Public-Private Partnership (FEPPP.org) works to provide educators with training on how to deliver financial education in a way that meets Washington’s Financial Education Standards. FEPPP’s trainings help provide educators with not just curricula and resources but also confidence in teaching students how to build a strong financial future.
FEPPP also provides access to reviewed resources that meet the state’s financial education standards. Resources include those suited for K-12 students, several are available in Spanish, and there are also resources for Native students.
To learn more about FEPPP, visit feppp.org. Whether you are a parent or teacher, FEPPP provides information and resources to help you support future generations in achieving financial wellness.
Washington Jump$tart Coalition for Financial Education
The Washington Jump$tart Coalition is a 501(c)(3) nonprofit organization, a coalition of people who support financial education and the pursuit of personal financial capability. Members come from state agencies, financial institutions, nonprofits, and the private sector. The coalition is part of a national organization representing coalitions from every state and territory in the U.S. The national coalition hosts a robust resource directory at jumpstartclearinghouse.org.
Whether preparing for and promoting a Reality Fair for high school DECA students or providing financial fraud information to seniors, the Jump$tart Washington Coalition is working to improve financial education for all people who call Washington “home,” with a primary emphasis on K–college-aged students. Visit wa.jumpstart.org for more information.
Washington Student Achievement Council (WSAC)
If you or someone you know has had or currently has a student getting ready for college, then you might have heard about the Washington Student Achievement Council (WSAC). WSAC works to raise educational attainment through strategic engagement, program management, and partnerships.
The council has three main functions:
Lead statewide strategic planning to increase educational attainment.
Administer programs that help people access and pay for college.
Advocate for the economic, social, and civil benefits of higher education.
To use benefits from WSAC, you do not need to be enrolled at a four-year college. The benefits can be applied toward trade schools, community colleges, and other training programs to help you reach your future goals. Visit wsac.wa.gov for more information on resources they provide.
WA529 – Washington Education Savings Plan
Similar to WSAC, WA529 also helps you save while planning for college. WA529 states that 70% of Washington jobs require education beyond high school, and that number is on the rise. Here are some benefits to saving for post-high school education with a 529 plan:
You can avoid education debt.
WA529 plans can be used for more than just college.
Everyone has access to the same 529 benefits.
You can “set it and forget it.”
You can contribute more than with other plans.
Your 529 education savings are tax-advantaged.
You will receive favorable financial aid treatment.
Along with WA529, additional savings plans include WA529 Invest and WA529 GET. WA529 Invest (formerly DreamAhead) is an investment account you can use to save for higher education that has lower fees, a low-cost menu of investment portfolios, and a new account management system. The WA529 GET plan also helps you save for higher education, but in a different way. GET works by offering “units” for purchase toward future tuition. Each contribution to your GET account accumulates these units. The minimum contribution is $25. Once the student graduates from high school, the units can be used to pay for books, two years of college, or four years of college, depending on how many units you have. Learn more at 529.wa.gov.
Financial Beginnings
Financial Beginnings is a national nonprofit that provides financial education resources and programs to youth and adults in schools and communities. They work to empower individuals to take control of their financial futures.
They offer financial education classes in English and Spanish, collaborate with schools, tailor resources based on community needs, and partner with banks and credit unions. Learn more at financialbeginnings.org.
This column is produced by the Washington State Department of Financial Institutions, Washington’s financial services regulator, to provide consumer education and protection. Learn more or file a complaint at www.dfi.wa.gov. Find previous columns at dfi.wa.gov/financial-education/blog.
