,,iv #aacth ,,congress #ast ,session ,h4 ,,res4 #agb ,,in ,,the ,,house ,,of ,,representatives ,april #bc1 #bjac ,mr4 ,hinojosa 7for himself1 ,mr4 ,stivers1 ,ms4 ,sewell of ,alabama1 ,mr4 ,cartwright1 and ,ms4 ,eddie ,bernice ,johnson of ,texas7 submitted the following resolution2 which was referred to the ,committee on ,oversight and ,government ,reform ,,resolution ,supporting the goals and ideals of ,financial ,literacy ,month4 ,whereas personal financial literacy is essential to ensure that individuals are prepared to make informed financial choices so that they can become successful heads of household1 investors1 entrepreneurs1 and business leaders2 ,whereas financial education is the first line of defense against financial fraud and securing a prosperous future2 ,whereas according to the ,federal ,deposit ,insurance ,corporation1 at least #bh4c percent of households in the ,united ,states1 or close to #cc1jjj1jjj households with approximately #ff1jjj1jjj adults1 are unbanked or underbanked and1 subsequently1 have missed opportunities for savings1 lending1 and basic financial services2 ,whereas almost #ee4c percent of ,black households1 and #dh4g percent of ,hispanic households are either unbanked or underbanked2 ,whereas according to the #bjab ,consumer ,financial ,literacy ,survey ,final ,report of the ,national ,foundation for ,credit ,counseling1 #db percent of adults in the ,united ,states1 gave themselves a grade of ,c1 ,d1 or ,f on their knowledge of personal finance2 ,whereas according to the ,united ,states courts figures on bankruptcy filings1 personal bankruptcy filings reached over #a1ejj1jjj in #bjaj1 the highest number since #bjje1 more than #a1djj1jjj in #bjaa1 and more than #a1bjj1jjj in #bjab2 ,whereas the #bjab ,retirement ,confidence ,survey conducted by the ,employee ,benefit ,research ,institute found that only #ad percent of workers were very confident about having enough money for a comfortable retirement1 up only #a percent point from the previous year1 a sharp decline in worker confidence from the #bg percent of workers who were very confident in #bjjg2 ,whereas according to the #bjab ,retirement ,confidence ,survey conducted by the ,employee ,benefit ,research ,institute1 less than half of workers 7#db percent7 in the ,united ,states have tried to calculate how much they need to save for retirement2 ,whereas according to a #bjab ,flow of ,funds report by the ,board of ,governors of the ,federal ,reserve ,system1 household debt stood at #ab1hjj1jjj1jjj1jjj at the end of the fourth quarter of #bjab2 ,whereas according to the #bjab ,consumer ,financial ,literacy ,survey ,final ,report of the ,national ,foundation for ,credit ,counseling1 #cc percent1 or more than #gg1jjj1jjj adults1 admit to not paying all of their bills on time1 a dramatic increase from #bh percent or #fd1jjj1jjj adults in #bjaa2 ,whereas according to the #bjab ,consumer ,financial ,literacy ,survey ,final ,report of the ,national ,foundation for ,credit ,counseling1 only #dc percent of adults keep close track of their spending1 and more than #bb percent of adults do not know how much they spend on food1 housing1 and entertainment1 and do not monitor their overall spending2 ,whereas according to the #bjab ,consumer ,financial ,literacy ,survey ,final ,report of the ,national ,foundation for ,credit ,counseling1 #ci percent of adults in the ,united ,states1 report that they have no savings1 and only #b in #e adults are saying they are saving less in #bjab than the year before1 the proportion of adults who have savings has declined from #fg percent in #bjaj to #fd percent in #bjaa down to #ei percent in #bjab2 ,whereas according to the seventh ,council for ,economic ,education biennial ,survey of the ,states #bjaa3 ,economic1 ,personal ,finance1 and ,entrepreneurship ,education in ,our ,nation's ,schools1 only #bb ,states require students to take an economics course as a high school graduation requirement1 and only #af ,states require the testing of student knowledge in economics2 ,whereas according to the seventh ,council for ,economic ,education biennial ,survey of the ,states #bjaa3 ,economic1 ,personal ,finance1 and ,entrepreneurship ,education in ,our ,nation's ,schools1 only #ab ,states require students to take a personal finance course either independently or as part of an economics course as a high school graduation requirement2 ,whereas according to the #bjac ,girl ,scout ,research ,institute's report1 ,having ,it ,all3 ,girls ,financial ,literacy1 #ij percent of girls say it is important to learn how to manage money but just #ab percent say they feel confident in making financial decisions2 ,whereas expanding access to the mainstream financial system will provide individuals with less expensive and more secure options for managing finances and building wealth2 ,whereas quality personal financial education is essential to ensure that individuals are prepared to manage money1 credit1 and debt1 and to become responsible workers1 heads of households1 investors1 entrepreneurs1 business leaders1 and citizens2 ,whereas increased financial literacy empowers individuals to make wise financial decisions and reduces the confusion caused by an increasingly complex economy2 ,whereas a greater understanding of1 and familiarity with1 financial markets and institutions will lead to increased economic activity and growth2 ,whereas in #bjjc1 ,congress found it important to coordinate ,federal financial literacy efforts and formulate a national strategy2 and ,whereas in light of that finding1 ,congress passed the ,financial ,literacy and ,education ,improvement ,act1 establishing the ,financial ,literacy and ,education ,commission3 ,now1 therefore1 be it ,that the ,house of ,representatives-- 7#a7 supports the goals and ideals of ,financial ,literacy ,month1 to raise public awareness about-- 7,a7 the importance of personal financial education in the ,united ,states2 and 7,b7 the serious consequences that may result from a lack of understanding about personal finances2 and 7#b7 calls on the ,federal ,government1 ,states1 localities1 schools1 nonprofit organizations1 businesses1 and the people of the ,united ,states to support the goals and ideals of ,financial ,literacy ,month with appropriate programs and activities4