08-R129

2008 -- H 8098

Enacted 03/27/08

 

H O U S E  R E S O L U T I O N

DESIGNATING APIRL, 2008 AS "FINANCIAL LITERACY MONTH" IN THE STATE OF RHODE ISLAND

     

     

     Introduced By: Representatives Church, Costantino, Serpa, Dennigan, and Silva

     Date Introduced: March 27, 2008

 

 

 

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

Private savings rates have steadily declined over the past twenty years and during this period,

uncollateralized debt has risen to record highs: More than 20 million Americans do not have a

traditional banking relationship: The average college student is now more than $20,000 in debt

after graduation, leading many graduates to forego financial goals such as purchasing a home or

saving and investing for retirement: Identity theft and other financial schemes increasingly

threaten Rhode Island citizens: Rhode Island high school seniors who took the national 2006

Jump$tart Coalition personal financial literacy survey answered just forty-nine percent of the

questions correctly; and

     WHEREAS, The financial well-being of individual Rhode Island citizens 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 to an ongoing and evolving process; and

     WHEREAS, Governments, 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 young and other

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

necessary skills for success, and will contribute to making 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 all

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

     RESOLVED, That this House of Representatives of the State of Rhode Island and

Providence Plantations hereby proclaims April 2008 to be “Financial Literacy Month”. We urge

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

personal financial literacy both during April 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 the Rhode Island Jump$tart Coalition.

     

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LC02651

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