| 2 | 3 | | |
|---|
| 3 | 4 | | |
|---|
| 4 | 5 | | |
|---|
| 5 | 6 | | |
|---|
| 6 | 7 | | R E S O L U T I O N |
|---|
| 7 | 8 | | WHEREAS, The observance of Financial Literacy Month in April |
|---|
| 8 | 9 | | 2025 provides a fitting opportunity to call attention to the |
|---|
| 9 | 10 | | essential role that personal financial literacy plays in everyday |
|---|
| 10 | 11 | | life for all individuals; and |
|---|
| 11 | 12 | | WHEREAS, The development of effective money management |
|---|
| 12 | 13 | | skills is rarely addressed in the classroom, and only 26 states |
|---|
| 13 | 14 | | mandate that students take a personal finance course as a high |
|---|
| 14 | 15 | | school graduation requirement; research has shown that students |
|---|
| 15 | 16 | | from states with a required financial education course more often |
|---|
| 16 | 17 | | display behaviors conducive to healthy money management; compared |
|---|
| 17 | 18 | | to other young adults, they are more likely to save, pay off their |
|---|
| 18 | 19 | | credit cards in full each month, and take modest financial risks, |
|---|
| 19 | 20 | | and they are less likely to reach the maximum limit on their credit |
|---|
| 20 | 21 | | cards, make late payments, or engage in compulsive buying; and |
|---|
| 21 | 22 | | WHEREAS, Personal financial literacy continues to be an |
|---|
| 22 | 23 | | important factor throughout adulthood; studies show that 37 percent |
|---|
| 23 | 24 | | of American adults do not have adequate cash reserves to cover an |
|---|
| 24 | 25 | | unexpected expense of $400; in addition, the 2020 Consumer |
|---|
| 25 | 26 | | Financial Literacy Survey reported that a majority of adults in the |
|---|
| 26 | 27 | | U.S. lived in credit card debt and that only 47 percent maintained a |
|---|
| 27 | 28 | | budget; and |
|---|
| 28 | 29 | | WHEREAS, Public, community, and private sector organizations |
|---|
| 29 | 30 | | around the country are working to increase financial literacy rates |
|---|
| 30 | 31 | | for Americans of all ages through media campaigns, websites, and |
|---|
| 31 | 32 | | one-on-one counseling; as part of this outreach effort, a number of |
|---|
| 32 | 33 | | agencies and groups have designated the month of April as Financial |
|---|
| 33 | 34 | | Literacy Month to highlight the importance of personal finance |
|---|
| 34 | 35 | | education and to encourage Americans to establish and maintain good |
|---|
| 35 | 36 | | saving and spending habits; and |
|---|
| 36 | 37 | | WHEREAS, Personal financial knowledge and awareness have |
|---|
| 37 | 38 | | broad implications for the economic welfare of our state and |
|---|
| 38 | 39 | | nation, and the observance of Financial Literacy Month is a timely |
|---|
| 39 | 40 | | reminder of the rights and responsibilities of all Texans to build |
|---|
| 40 | 41 | | on their understanding of money management; now, therefore, be it |
|---|
| 41 | 42 | | RESOLVED, That the House of Representatives of the 89th Texas |
|---|
| 42 | 43 | | Legislature hereby recognize April 2025 as Financial Literacy |
|---|
| 43 | 44 | | Month. |
|---|