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SENATE RESOLUTION NO. 651
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WHEREAS, The observance of Financial Literacy Month in |
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April 2019 provides a fitting opportunity to call attention to |
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the essential role that personal financial literacy plays in |
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everyday life for all individuals; and |
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WHEREAS, The development of effective money management |
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skills is rarely addressed in the classroom, and only 17 states |
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mandate that students take a personal finance course as a high |
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school graduation requirement; research has shown that students |
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from states with a required financial education course more often |
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display behaviors conducive to healthy money management; |
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compared to other young adults, they are more likely to save, pay |
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off their credit cards in full each month, and take modest |
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financial risks, and they are less likely to reach the maximum |
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limit on their credit cards, make late payments, or engage in |
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compulsive buying; and |
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WHEREAS, Personal financial literacy continues to be an |
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important factor throughout adulthood; studies show that 40 |
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percent of American adults cannot cover an unexpected expense of |
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$400 and that approximately a quarter of all United |
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States households have limited or no access to savings, lending, |
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or other basic financial services; in addition, the 2018 Consumer |
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Financial Literacy Survey reported that a majority of adults in |
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the United States lived in credit card debt during the yearlong |
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study and that only 41 percent maintained a budget; and |
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WHEREAS, Public, community, and private sector |
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organizations around the country are working to increase |
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financial literacy rates for Americans of all ages through media |
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campaigns, websites, and one-on-one counseling; as part of this |
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outreach effort, a number of agencies and groups have designated |
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the month of April as Financial Literacy Month to highlight the |
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importance of personal finance education and to encourage |
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Americans to establish and maintain good saving and spending |
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habits; and |
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WHEREAS, Personal financial knowledge and awareness have |
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broad implications for the economic welfare of our state and |
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nation, and the observance of Financial Literacy Month is a |
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timely reminder of the right and obligation of all Texans to |
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build on their understanding of money management; now, |
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therefore, be it |
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RESOLVED, That the Senate of the State of Texas, 86th |
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Legislature, hereby recognize April 2019 as Financial Literacy |
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Month. |
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Alvarado, Hall |
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Menéndez, Schwertner, Watson |
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____________________________________________________________ |
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Member, Texas Senate Member, Texas Senate |
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____________________________________________________________ |
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Member, Texas Senate Member, Texas Senate |
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______________________________ |
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Member, Texas Senate |
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______________________________ |
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President of the Senate |
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I hereby certify that the |
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above Resolution was adopted by |
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the Senate on April 29, 2019. |
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______________________________ |
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Secretary of the Senate |