A life of financial success and security begins with a strong education. Every generation of Americans is introduced to the realities of spending, saving and finance at a younger age than the last. Yet for many years, our nation’s financial literacy has not kept pace. Many young people today take jobs with salaries far beyond what their parents earned. They also begin to live a lifestyle they believe fits that income, but in reality the cost of that lifestyle far exceeds their income. Many realize too late that what their parents have is the result of accumulation over years of hard work. The younger generation discovers that their income cannot keep up with their spending, and they fall into debt. In the worst cases, these bad financial practices can eventually lead to broken marriages, families and futures.

Today’s indicators strongly suggest that in spite of the destabilization of the stock market, the lingering recession and what appears to be a mostly jobless (economic) recovery, the rich are getting richer (statistically based), the poor are arguably getting poorer, and it is harder for the average person simply to remain “middle class.”

Many Americans of all races are living from paycheck to paycheck, effectively one paycheck away from poverty. And many more Americans have no traditional banking relationships.

We must intervene and empower ourselves and our children to learn not only the 123s and ABCs of life but also the CDs, NYSEs, and APRs of life as well. And, with positive intervention, consistency and a spirit filled with hope, we can realize a change in our behavior that will be the example for our children and a new economic era.

Through Comerica’s financial education programs, our goal is to help make the communities where we conduct business to be successful. In this issue of Homefront, we invite you to take a look at some of the financial education programs Comerica provides for youth and educators. After you have read about each program, I implore you to take action by contacting one of our partners or our education manager to discuss getting your child or your school involved in a program that will heighten their financial literacy skills and help prepare them for the future.

Invest in your own financial literacy by making a decision today to manage your finances so that you can live your dreams and be prepared for the unexpected.

Believe that you can become a homeowner, instead of a lifetime renter. Believe that you can turn small business dreams into small business ownership. Believe that if you are successfully managing your life, then your children will too.

Take the time and Bank on Your Future.