Government

PA Senate Approves Gordner Resolution for Financial Literacy

Recognizing the importance of financial and economic knowledge, the PA state Senate has passed a resolution authored by Senator John R. Gordner (R-27) to designate April as “Financial Literacy Month” in Pennsylvania.

“Knowledge of finance is essential to ensure individuals are prepared to manage credit and debt, invest, and become responsible workers, business leaders and entrepreneurs,” said Senator Gordner.  “A knowledge of finance has been linked to lower delinquency rates for borrowers, higher contributions to savings and retirement plans, and a higher net worth.”

Senate Resolution 92 encourages employers, schools, financial institutions and the media to provide opportunities for financial literacy education by collaborating with organizations such as EconomicsPennsylvania.

economicspa 300x214 PA Senate Approves Gordner Resolution for Financial Literacy

(L-R) Senator Gordner; Jennifer Dodge, Director of
Governmental Relations, EconomicsPennsylvania;
Fritz M. Heinemann, President, EconomicsPennsylvania;
and Lieutenant Governor Jim Cawley present Senate
Resolution 92.

 

POSTED: April 18, 2013 | BY: admin | TAGS: , , , , ,

Develop Good Financial Habits

David Lillard photo 239x300 Develop Good Financial HabitsBy Tennessee State Treasurer David H. Lillard, Jr.

Everyone understands how important education is in our society today. In order to compete for jobs in a global economy, our young people must be well versed in communication, math and science skills.

But even that won’t be enough.

To be successful in their professional and personal lives, people need to be financially literate as well. Sadly, they very often aren’t.

Consider these statistics:

  • According to a survey by the Employee Benefit Research Institute and Mathew Greenwald and Associates, two-thirds of American workers have saved less than $50,000 toward their retirement – and more than a quarter of them have saved less than $1,000.
  • Another survey by Sallie Mae and Gallup indicated that 4-in-10 parents with children younger than 18 haven’t set aside money for college expenses.
  • And according to a report by Moebs $ervices Inc., 87 percent of Americans don’t even balance their checkbooks. Read more…

POSTED: April 15, 2013 | BY: admin | TAGS: , , , , , , ,

CEE in the News: CA Assemblyman Pushes Financial Literacy for High Schoolers

Findings from the Council for Economic Education have once again encouraged local leaders to promote financial literacy in their schools.

California Assemblyman Roger Hernandez’ bill to bolster financial literacy instruction at high schools statewide is making progress. The Diamond Bar-Walnut Patch has more on his efforts.

“Financial literacy is an issue of equity. Not everyone is given an opportunity at home to be financially literate,” Hernandez said. “Teaching this topic at schools prepares our students to enter an increasingly competitive workforce and gives them the tools to help protect themselves against predatory lending, credit card fraud and other deceptive practices.”

POSTED: March 28, 2013 | BY: admin | TAGS: , , , , , , ,

State Treasurer’s Financial Literacy Measure Passes Mississippi House by a Landslide

A legislative measure that would teach your children how to budget and save is one step closer to becoming a reality in Mississippi. House Bill 637, a measure being promoted by state Treasurer Lynn Fitch, sailed through the House chamber last week with strong support by a vote of 118-1.  It now heads to the Senate for approval.

“Teaching the ins and outs of managing money is a very powerful gift to give a young person,” said Treasurer Fitch. This bill would make sure all Mississippi high school students graduate knowing how to write checks and budget, the risks and benefits of saving and investing, the difference between gross and net income and other aspects of financial literacy. Read more…

POSTED: February 20, 2013 | BY: admin | TAGS: , , , ,

Financial Collapse: A 10-Step Recovery Plan by Alan S. Blinder

Sunday’s New York Times featured this opinion piece by Alan S. Binder, professor of economics and public affairs at Princeton, a former vice chairman of the Federal Reserve and the author of “After the Music Stopped: The Financial Crisis, the Response and the Work Ahead.”

Blinder outlines his 10 Financial Commandments, which, he says, “were brazenly violated in the years leading up to the crisis.” Read more…

POSTED: January 22, 2013 | BY: admin | TAGS: , , , , ,

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