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.