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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 citizen in
7the past 12 months was $29,519 and the median household income
8is $56,853; and
 
9    WHEREAS, The percentage of persons below the poverty level
10in the State of Illinois is 13.7%; and
 
11    WHEREAS, Many citizens have difficulty managing money due
12to a lack of financial literacy; and
 
13    WHEREAS, In 2008, the President's Advisory Council defined
14financial literacy as "the ability to use knowledge and skills
15to manage financial resources effectively for a lifetime of
16financial wellbeing"; and
 
17    WHEREAS, Financial literacy helps to provide the tools to
18make informed choices, avoid pitfalls, and improve present and
19long-term financial security; and
 

 

 

HR0780- 2 -LRB098 17716 GRL 52831 r

1    WHEREAS, Gaining financial literacy skills improves the
2quality of life, provides skills for success, contributes to
3communities, and benefits the economy; and
 
4    WHEREAS, It is everyone's responsibility to learn the facts
5of investing, take charge of their money, realize the
6importance of saving towards their family's future, and
7understand that it is never too late to invest; and
 
8    WHEREAS, A lack of financial knowledge can lead to
9devastating money problems, including unmanageable debt or
10even home foreclosure; therefore, be it
 
11    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
12NINETY-EIGHTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
13we designate April of 2014 as Financial Literacy Month in the
14State of Illinois.