I invite you to join me as an original cosponsor of a resolution that would encourage collaboration between the public and private sector to promote financial literacy for students.
We are living in an increasingly complex financial marketplace, where consumers must make tough financial decisions at a young age. Young people often find themselves ill equipped with the knowledge to make these decisions, and in turn, windup carrying large amounts of student loans and credit card debt. Such entanglements at an early age can affect their ability to accumulate wealth and be successful in society.
To address this issue, we need to ensure students have access to financial literacy training at all levels of their education. Studies have shown that when students have access to personal financial literacy education at an early age, they are more likely to form lifelong financial practices such as cash-flow management, credit management, savings, and investment practices.
The resolution will:
encourage local education agencies to promote financial literacy by providing incentives for teachers to take financial education and professional development training;
encourage local education agencies to introduce financial education concepts early in a student’s career and provide opportunities for students to practice money management;
encourage school testing on financial management questions; and
support stand-alone financial education courses in high school.
If you would like to become an original cosponsor of this legislation, or have any questions, please contact Gary Timmins in my office at 5-3515 or at Gary.Timmins@mail.house.gov.