Rep. Chris Miller announced that House Resolution 287 has passed out of the full House Thursday evening. The resolution designates April 2019 as Financial Literacy Month in Illinois. Rep. Miller sponsored this bi-partisan designation and discussed its benefits.
“We need to educate our children on what it means to be financially responsible and the value of a dollar,” said Rep. Chris Miller, a member of the Elementary & Secondary Education: School Curriculum & Policies Committee. “It is everyone’s responsibility to learn the facts of investing, take charge of their money, realize the importance of saving towards their family’s future, and understand that it is never too late to invest.”
The language of House Resolution 287 states that the members of the Illinois House of Representatives believe that financial literacy is essential to the economic vitality of the citizens of the State of Illinois and all individuals. It goes on to say the percentage of individuals below the poverty level in the State of Illinois is roughly 12.6% and in many cases is a result of a difficulty managing money due to a lack of financial literacy.
Rep. Miller’s resolution references the President’s Advisory Council’s definition on financial literacy as the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. Financial literacy helps to provide the tools to make informed choices, avoid pitfalls, and improve present and long-term financial security.
“I appreciate that President Trump has also focused on financial education for our young people through programs of the Financial Literacy and Education Commission,” added Rep. Miller. “I’m happy to announce the we are already working to privately fund one of the available programs called Financial Peace University curriculum to provide it to our high schools in my area.”