HR0287LRB101 12089 MST 59634 r

1
HOUSE RESOLUTION

 
2    WHEREAS, The members of the Illinois House of
3Representatives believe that financial literacy is essential
4to the economic vitality of the citizens of the State of
5Illinois and all individuals; and
 
6    WHEREAS, The per capita income for an Illinois resident is
7$34,196, and the median household income is $60,960; and
 
8    WHEREAS, The percentage of individuals below the poverty
9level in the State of Illinois is roughly 12.6%; and
 
10    WHEREAS, Many citizens have difficulty managing money due
11to a lack of financial literacy; and
 
12    WHEREAS, The President's Advisory Council defined
13financial literacy as "the ability to use knowledge and skills
14to manage financial resources effectively for a lifetime of
15financial well-being"; and
 
16    WHEREAS, Financial literacy helps to provide the tools to
17make informed choices, avoid pitfalls, and improve present and
18long-term financial security; and
 
19    WHEREAS, Gaining financial literacy skills improves the

 

 

HR0287- 2 -LRB101 12089 MST 59634 r

1quality of life, provides skills for success, contributes to
2communities, and benefits the economy; and
 
3    WHEREAS, It is everyone's responsibility to learn the facts
4of investing, take charge of their money, realize the
5importance of saving towards their family's future, and
6understand that it is never too late to invest; and
 
7    WHEREAS, A lack of financial knowledge can lead to
8devastating money problems, including unmanageable debt or
9even home foreclosure; therefore, be it
 
10    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
11HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
12we declare April 2019 as Financial Literacy Month in the State
13of Illinois.