The Pennsylvania Securities Commission is bringing a program which has been successfully launched in Wisconsin to Commonwealth citizens. The program is called "Investor Education in Your Workplace" and addresses the very real need to improve investor education. Knowing how to manage your finances in a cyclical economy is the first step in ensuring financial security. When you invest your money in various savings vehicles it is imperative you understand how each vehicle works and the risks you assume when investing your money in that location. Without a solid understanding of basic investment strategies, Pennsylvania residents are vulnerable to investment scams and other pitfalls associated with poor investment decisions. Sadly, it is all too common for beginner investors to learn through the trial and error method. In an economy where every cent counts, improving investor education can save hundreds if not thousands of dollars lost as a result of an uninformed investor choice.
The program launched by PSC will address this issue and provide much needed financial education to participants enrolled in the program. Sponsored by Investor Protection Trust grant and contributions, this program is available at no cost to the employer and participating employees. The first individuals to participate in this program will include over 2,500 credit union employees throughout the state. PSC has hopes of expanding this program in 2011 to include other areas of the workforce.
Participants will cover topics such as personal finance, investment risks and investing in mutual funds. The program requires both pre-testing and post-testing of the 10 topics covered to track the participants progress. Classes in this 10 hour program may be completed by employees at their own pace and upon completion a certificate will be issued.
The introduction of this type of program has arrived not a moment too soon. Many of the financial problems consumers face today are the result of a lack of education in basic personal finance management. By providing education through the workplace, at no cost to the employee themselves, this program will provide much needed education to many individuals who would otherwise not have this learning opportunity. When Harrisburg residents and those throughout the state of Pennsylvania learn how to better manage their finances, more families will have the opportunity to experience financial security.
In addition to the Investor Education in Your Workplace program, PSC is also providing information to help individuals avoid becoming the victim of an investment scam. During the premiere of the movie, "Wall Street", PSC representatives will hand out educational materials to interested movie-goers to raise awareness and improve investor protection. Armed with these valuable resources, Commonwealth residents can feel confident in the investment decisions they make and protect those investments from con artists perpetrating the latest investment fraud.