SR1069LRB101 16730 LAW 66119 r

1
SENATE RESOLUTION

 
2    WHEREAS, Financial literacy is an important life skill that
3can greatly benefit all Illinois residents; and
 
4    WHEREAS, The need for learning good personal financial
5habits has never been greater, as nearly two-thirds of American
6adults cannot pass a basic financial literacy test; one in four
7adults do not pay their bills on time, and 48% of millennials
8report living paycheck to paycheck; and
 
9    WHEREAS, Problems, such as existing debt and bad credit
10history, and the majority (80%) of roadblocks for potential
11homeowners can be solved with better financial literacy
12education; and
 
13    WHEREAS, It is imperative that we teach children good
14personal financial habits so they are more likely to show
15positive financial behaviors and skills later in life, such as
16paying off credit cards each month, saving for retirement, and
17refraining from making compulsive purchases; and
 
18    WHEREAS, Children should be taught financial literacy
19skills at a young age, and all schools in Illinois should have
20access to high quality, standards-based curriculum to teach
21these important life skills; and
 

 

 

SR1069- 2 -LRB101 16730 LAW 66119 r

1    WHEREAS, Revised Social Studies Standards, which included
2economics and financial literacy standards for the first time,
3were adopted in 2015 by the Illinois State Board of Education
4and approved by the Joint Committee on Administrative Rules in
52016; and
 
6    WHEREAS, It is the goal of the State Treasurer's Office to
7provide programs, services, and curriculum to teachers and
8school districts that satisfy these new standards and provide
9financial education to children throughout the State; and
 
10    WHEREAS, The State Treasurer's Office has partnered with
11the Illinois Council on Economic Education, which is commonly
12referred to as Econ Illinois, to develop an interdisciplinary,
13standards-based curriculum for teaching financial literacy in
14first through eighth grades, called Money Minded Illinois; and
 
15    WHEREAS, Econ Illinois is a nonprofit that has specialized
16in financial education for over 65 years and impacts 130,000
17students through their programming; and
 
18    WHEREAS, This new curriculum is free to any Illinois
19teacher or school district and has distinct units for each
20grade level that use informative and engaging activities to
21teach students about a variety of financial topics; and
 

 

 

SR1069- 3 -LRB101 16730 LAW 66119 r

1    WHEREAS, The State Treasurer's Office, alongside Econ
2Illinois, hopes to help Illinoisans avoid pitfalls and problems
3that come with a lack of financial literacy and to help promote
4good personal financial habits through our standards-based
5curriculum; and
 
6    WHEREAS, Teaching financial literacy skills will allow
7Illinois residents to save for the future, pay down already
8accrued debt, prevent future debt, and enjoy a better quality
9of life, while creating informed communities and an improved
10economy in Illinois; therefore, be it
 
11    RESOLVED, BY THE SENATE OF THE ONE HUNDRED FIRST GENERAL
12ASSEMBLY OF THE STATE OF ILLINOIS, that we declare April 2020
13as Financial Literacy Month in the State of Illinois in order
14to raise awareness of free financial literacy programs, such as
15Money Minded Illinois, which will help to ensure that every
16child throughout the State has access to high quality financial
17education; and be it further
 
18    RESOLVED, That a suitable copy of this resolution be
19presented to the State Treasurer's Office, the Illinois State
20Board of Education, and the Illinois Council on Economic
21Education.