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EBSA News Release: [07/13/2004]
Contact Name: Peggy Abrahamson
Phone Number: (202) 693-5052

U.S. Labor Secretary Elaine L. Chao Launches Wi$e Up Financial Education Program at the University of Texas at Dallas

WASHINGTON—U.S. Secretary of Labor Elaine L. Chao, the Labor Department’s Women’s Bureau and the University of Texas at Dallas today announced a financial education program to help women “Wi$e Up” about their finances.

“It is never too early to start planning for financial independence and retirement security. The Wi$e Up program helps people to plan for their future security and independence,” said Chao at a news conference held to announce the initiative at the University of Texas at Dallas School of Management.

The Women’s Bureau created Wi$e Up, a financial security and retirement savings education program accessible via the Internet, as a college course to appeal to Generation X women 22 to 35 years of age. Studies show that compared to men, women lack information about credit and live paycheck-to-paycheck; tend to be more intimidated by financial issues; earn less; have smaller retirement benefits; are poorer in retirement; make more conservative investments and live longer and require more money in retirement.

The Wi$e Up program provides important information about how to prepare a realistic budget that reflects financial goals; manage the use of credit; make wise investments; and save to achieve financial security.

To learn how to identify your needs and construct a workable plan to meet your financial goals, visit the Women’s Bureau Web site at www.dol.gov/wb/.

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