• by Tanya Gazdik , April 3, 2012

Ally Financial is hosting several initiatives tied to National Financial Literacy Month.

Throughout April, Detroit-based Ally will aim to engage consumers in several activities centered on its financial literacy program, Ally Wallet Wise. The goal is to teach the dos and don'ts of budgeting, credit, banking and investing as well as automotive finance.

To help consumers with their specific financial questions, Ally Wallet Wise will host a live Tweet Chat with personal finance journalist and expert Carmen Wong Ulrich on April 23 at 10:30 a.m. EDT.

Responding to questions in real time, Wong Ulrich will lead the Tweet Chat live using Wong Ulrich's Twitter account and hashtag #FinLit. Consumers of all ages are encouraged to participate as Wong Ulrich provides her personal tips and recommendations on a variety of finance topics. For details on the Tweet Chat, go to www.twitter.com/ally.

Also using Twitter, Ally Financial will tweet daily money tips and insights from the @Ally Twitter account. Followers are encouraged to send in their questions and retweet tips to share among their own personal networks. Also in April, @Ally will launch its Wednesday Wallet Wise series, which will provide financial literacy tips weekly throughout the remainder of 2012.

Ally also has created a free, online financial IQ quiz to help consumers gauge their current level of money smarts. The quiz is available at http://www.allywalletwise.com/Financial-IQ .

Consisting of 12 multiple-choice questions, the quiz includes topics like credit scoring factors and overdraft protection for checking accounts. Upon completion, quiz takers will receive an IQ score, as well as easy next steps to sharpen their financial skills, if needed.

"With Ally Wallet Wise, we provide consumers with basic financial knowledge so they can make educated decisions with their personal finances," said Gina Proia, Ally chief communications officer and head of community relations in a release. "This quiz will help them test their financial savvy and learn where they can enhance their knowledge."

Finally, as part of the Federal Reserve Bank of Chicago's Money Smart Week, starting April 21, Ally will host 12 in-person, free Wallet Wise financial education sessions in Detroit. Money Smart Week is a series of free classes and activities designed to help consumers better manage their personal finances and is celebrating its tenth anniversary. Full Wallet Wise event details can be found at www.moneysmartweek.org or www.allywalletwise.com.