Foster Introduces Bipartisan Resolution to Promote Financial Literacy for Students
WASHINGTON, DC – Today, Congressman Bill Foster (D-IL) and Congressman French Hill (R-AR) introduced a resolution to encourage collaboration between the public and private sector to promote financial literacy for students. The resolution also emphasizes the importance of financial literacy for consumers of all ages and supports the efforts of federal agencies to expand financial education resources.
“In our increasingly complex financial marketplace, young people often find themselves lacking the knowledge to make tough financial decisions that can have profound effects on their futures,” Congressman Foster said. “Studies have shown that promoting financial literacy at an early age helps equip young people to make sound financial decisions that will set themselves up for success.”
“As a father, a former community banker, and an investment adviser, I believe that we should make every effort at home and in school to encourage our kids to develop responsible, financial habits,” Congressman Hill said. “Recent studies have shown that children as early as seven years old can begin developing financial behaviors. At this age, children don’t just learn information–they acquire it. Introducing primary school students to financial literacy and personal finance classes will help create a deeper understanding of earning, saving, and spending money. Acquiring these skills at a younger age allows students to better navigate complicated financial decisions as adults and puts them on a path towards lifelong fiscal prosperity.”
Text of the resolution is available here.