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News Release

New Jersey Department of
Banking and Insurance

Commissioner Ken Kobylowski

For Immediate Release:
July 31, 2014

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064

Christie Administration Helps Scouts Earn their Personal Management Merit Badges with a Financial Literacy Lesson

BARNEGAT – Department of Banking and Insurance Commissioner Ken Kobylowski on July 29 spoke to youths attending camp at the Boy Scouts of America (BSA) Citta Scout Reservation about money management basics, such as credit management, budget setting and savings. The Commissioner spoke to the group as part of the Department’s ongoing financial literacy program and to help Scouts to fulfill key parts of the Personal Management Merit Badge Requirements.

“The financial decisions you make now can affect you for the rest of your life,” said Commissioner Kobylowski. “The motto of the Boy Scouts is: Be Prepared. The best way to be prepared to make important financial decisions is to learn some basic financial concepts.”

For the last eight years, the Department has conducted financial literacy programs for high school students and spoken to thousands of students in schools across the State about topics, including basic personal finance, the importance of credit and how to manage credit cards. That program was expanded to reach out to senior citizens in 2012 and to college students in 2013.

In addition to the scouts attending camp at Citta, BSA troopers from around the Jersey Shore Council’s Sea Pines District visited to hear the Commissioner’s lesson in money handling fundamentals.

“I can’t stress enough how important it is to learn how to pay your bills on time,” said Commissioner Kobylowski. “Whether it is your phone bill or your car bill, get in the habit of paying your bills on time. It’s very important to learn that early on.”

Financial Literacy - Citta Scout Reservation   Financial Literacy - Citta Scout Reservation
  Above left, Commissioner Kobylowski gathers with Boy Scouts at Citta Scout Reservation in Barnegat. Above right, Commissioner Kobylowski talks to Boy Scouts about money handling basics.
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