This month we are welcoming spring by celebrating April as National Financial Literacy month.
Financial Literacy Month evolved from Youth Financial Literacy Day; an idea introduced by the National Endowment for Financial Education. In 2003 the United States Senate passed a resolution officially designating April as Financial Literacy Month, and President George W. Bush declared April Financial Literacy for Youth Month. At that time, governors of eight states had already named the month of April as such. April 2004 was named National Financial Literacy Month by the passing of Senate Resolution 316 with unanimous consent.
In April 2005, the US House of Representatives passed a bill supporting the goals and ideals of Financial Literacy Month for April 2005. This bill, and the resolution passed by the Senate, called on President Bush to issue a proclamation calling on Federal Government, States, localities, schools, nonprofit organizations business and the people of the United States to observe the month with appropriate programs and activities.
President Obama made a proclamation in March 2017 highlighting the importance of being financially capable and declaring the month of April as National Financial Capability Month.
During Financial Literacy Month in 2006, The Financial Literacy and Education Commission unveiled a new national strategy in their report “Taking Ownership of the Future: The National Strategy for Financial Literacy”. The report outlined a series of outreach and education goals for the public and private sectors aimed to help Americans improve their understanding of financial issues such as credit management, savings, and home ownership.
The non-profit Jump$tart Coalition was a part of bringing about the first Youth Financial Literacy Day in 2003 and they continue today to promote the importance of educating youth and young adults in how to handle their personal finances. And on their Financial Literacy Month webpage the Department of Workforce Development offers the following educational resources for learning about personal money management:
- Journey to College manage your money webpage
- Financial topics for college students from 360 degrees of Financial Literacy
- You Can Deal With It budgeting calculators and tips
- Default Prevention Grant schools work with students – Videos
- Focusing on financial literacy for students
- Determine your budget
- Games for learning practical money skills
- Five building blocks for managing and growing money
- On vs. Off-Campus Living at a glance and other helpful tools
- Budgeting tips for the recent graduate
- 30 Steps to Financial Wellness
On March 21st of this year Wayne Township Trustee Office honored our commitment to helping people achieve financial literacy when we invited Sheila Anderson, Vice President at JP Morgan Chase to hold the first of a series of financial education classes for our clients and for the general public. These classes will continue on a monthly basis, and we will post the details on our Facebook page. We invite you to drop in and check out this important information.
Happy Financial Literacy Month, and Welcome Spring!
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