05-R 144

2005 -- S 0994

Enacted 03/30/05

S E N A T E R E S O L U T I O N

PROCLAIMING APRIL 2005 TO BE "FINANCIAL LITERACY MONTH" IN THE STATE OF RHODE ISLAND

Introduced By: Senators F Caprio, Cote, DaPonte, Algiere, and Bates

Date Introduced: March 30, 2005

     WHEREAS, Alarming trends in our national personal financial marketplace include:

American consumer credit debt exceeds $2 trillion; the current level of personal savings as a

percentage of personal income is at one of the lowest levels in history, 2%; through November of

2004, over 1.8 million individuals filed for bankruptcy; and instances of identity theft are

becoming increasingly experienced; and

     WHEREAS, The financial well being of individual Rhode Islanders is linked to our

state's and nation's economic health; and

     WHEREAS, Personal financial literacy is linked to individual financial well being; and

     WHEREAS, Personal financial literacy education involves active engagement on the part

of individual citizens and family units with an ongoing and evolving process; and

     WHEREAS, Government, private businesses, community-based organizations, and

institutions of education are stakeholders in the pursuit of increased personal financial literacy,

and by working together, can help individual consumers make informed decisions about their

finances; and

     WHEREAS, The personal financial education of all citizens, especially youth and other

vulnerable populations, will improve the quality of their lives, will provide them with skills for

success, and will contribute to positive changes for the communities in which they live and work;

and

     WHEREAS, Public and private partnerships, such as the Rhode Island Jump$tart

Coalition for Personal Financial Literacy, seek to improve the personal financial literacy of

Rhode Islanders, by promoting educational initiatives throughout our state; now, therefore be it

     RESOLVED, That this Senate of the State of Rhode Island and Providence Plantations

hereby proclaims April, 2005 as "Financial Literacy Month" in the State of Rhode Island and

urges all Rhode Islanders to take advantage of various programs and activities that will increase

personal financial literacy both during April, 2005 and throughout the year; and be it further

     RESOLVED, That the Secretary of State be and he hereby is authorized and directed to

transmit a duly certified copy of this resolution to Jim Hedgemark, Director, Rhode Island

Jump$tart Coalition for Personal Financial Literacy.

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LC02930

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