Florida Institute of CPAs - Financial Fitness Friday

CPAs to Offer Free Financial Advice to Florida Consumers
Nov. 20, 2009

9 a.m. to 3 p.m.

Floridians are hurting financially during this economic crisis and many aren't sure how to improve their situation. Are you part of the Florida's unemployment rate? It was at an all-time high of 11.2 percent in late October, according to the U.S. Department of Labor, Bureau of Labor Statistics. Did you recently have a death in the family? Are you a recent empty-nester? There are so many financial stresses today. We're here to help.

Our members, trusted Florida certified public accountants, will be available on Friday, Nov. 20, from 9 a.m. to 3 p.m., to answer financial questions.

Floridians can call the FICPA Financial Fitness Hotline on Nov. 20 at (800) 342-3197, Ext. 554, and "ask an expert" any financial question – free of charge. If you are unable to call, submit your question starting today at "I want to ask my question!"

Questions may be asked online anytime, but will be answered only on Nov. 20, between 9 a.m. and 3 p.m.

Florida's Financial Fitness Friday is a proactive, public-service program sponsored and carried out by the Florida Institute of CPAs Financial Literacy Committee. The program provides Florida residents general financial guidance. The FICPA, its members and the committee encourage you to complete a "financial fitness checkup" at least once a year.

This annual event is a component of the "360 Degrees of Financial Literacy," a national initiative of the American Institute of CPAs. 360 Degrees of Financial Literacy is designed to support CPAs as they take broader leadership roles in educating people of all ages about sound financial practices.

Thousands of Floridians are struggling with their finances, trying to make sound financial decisions, failing to prepare for retirement, and/or taking on high-interest credit card debt.

According to the 2009 Consumer Financial Literacy Survey by the National Foundation for Credit Counseling:

1/3 of respondents have no savings
1/3 do not save towards retirement
About 26 percent do not pay their bills on time
About 58 percent do not closely track their spending;
7 percent don't know how much they spend on food, housing, and entertainment
Nearly 2/3rds have not ordered a copy of their credit report even though it is free
About 42 percent have a home mortgage, and 28 percent say that the terms of their mortgage are different than they expected

"No matter what your financial level or your level of financial knowledge, one of our volunteers can answer your questions and offer you reliable, objective financial advice," said Terry Seaton, CPA, chair of the FICPA Financial Literacy Committee.

Floridians can call the FICPA Financial Fitness Hotline on Nov. 20 at (800) 342-3197, Ext. 554, and "ask an expert" any financial question. If you are unable to call, submit your question starting today at www.ficpa.org/FFF.

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Please Note: Your name and e-mail address will NOT be shared with third parties or used by the Florida Institute of CPAs for any purpose other than for Financial Fitness Friday communication. Communication with CPA volunteers is strictly confidential.