Bill Text: TX SR651 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Recognizing April 2019 as Financial Literacy Month.
Spectrum: Bipartisan Bill
Status: (Passed) 2019-04-29 - Reported enrolled [SR651 Detail]
Download: Texas-2019-SR651-Enrolled.html
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| WHEREAS, The observance of Financial Literacy Month in | ||
| April 2019 provides a fitting opportunity to call attention to | ||
| the essential role that personal financial literacy plays in | ||
| everyday life for all individuals; and | ||
| WHEREAS, The development of effective money management | ||
| skills is rarely addressed in the classroom, and only 17 states | ||
| mandate that students take a personal finance course as a high | ||
| school graduation requirement; research has shown that students | ||
| from states with a required financial education course more often | ||
| display behaviors conducive to healthy money management; | ||
| compared to other young adults, they are more likely to save, pay | ||
| off their credit cards in full each month, and take modest | ||
| financial risks, and they are less likely to reach the maximum | ||
| limit on their credit cards, make late payments, or engage in | ||
| compulsive buying; and | ||
| WHEREAS, Personal financial literacy continues to be an | ||
| important factor throughout adulthood; studies show that 40 | ||
| percent of American adults cannot cover an unexpected expense of | ||
| $400 and that approximately a quarter of all United | ||
| States households have limited or no access to savings, lending, | ||
| or other basic financial services; in addition, the 2018 Consumer | ||
| Financial Literacy Survey reported that a majority of adults in | ||
| the United States lived in credit card debt during the yearlong | ||
| study and that only 41 percent maintained a budget; and | ||
| WHEREAS, Public, community, and private sector | ||
| organizations around the country are working to increase | ||
| financial literacy rates for Americans of all ages through media | ||
| campaigns, websites, and one-on-one counseling; as part of this | ||
| outreach effort, a number of agencies and groups have designated | ||
| the month of April as Financial Literacy Month to highlight the | ||
| importance of personal finance education and to encourage | ||
| Americans to establish and maintain good saving and spending | ||
| habits; and | ||
| WHEREAS, Personal financial knowledge and awareness have | ||
| broad implications for the economic welfare of our state and | ||
| nation, and the observance of Financial Literacy Month is a | ||
| timely reminder of the right and obligation of all Texans to | ||
| build on their understanding of money management; now, | ||
| therefore, be it | ||
| RESOLVED, That the Senate of the State of Texas, 86th | ||
| Legislature, hereby recognize April 2019 as Financial Literacy | ||
| Month. | ||
| Alvarado, Hall | ||
| Menéndez, Schwertner, Watson | ||
| ____________________________________________________________ | ||
| Member, Texas Senate Member, Texas Senate | ||
| ____________________________________________________________ | ||
| Member, Texas Senate Member, Texas Senate | ||
| ______________________________ | ||
| Member, Texas Senate | ||
| ______________________________ | ||
| President of the Senate | ||
| I hereby certify that the | ||
| above Resolution was adopted by | ||
| the Senate on April 29, 2019. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
