A resolution designating April 2025 as "Financial Literacy Month".
This Senate resolution designates April 2025 as “Financial Literacy Month.” It aims to raise public awareness about the importance of personal financial education and the potential consequences of a lack of financial knowledge. The resolution cites data on unbanked and underbanked households, financial challenges faced by people with disabilities, rising debt and student loan balances, and the benefits of financial education in the workplace and high school. It notes that financial education is a component of a broader national strategy coordinated by the Financial Literacy and Education Commission (established by a 2003 act) and calls on the federal government, states, localities, schools, nonprofits, businesses, and the public to observe the month with appropriate programs and activities. As a non-binding resolution, it does not impose new duties or funding.
Key Points
- 1Designates April 2025 as “Financial Literacy Month” to raise awareness about the importance of personal financial education and the risks of insufficient financial knowledge.
- 2Cites data on financial access and challenges, including about 4.2% of households (roughly 5.6 million) being unbanked and about 14.2% (roughly 19 million) being underbanked, along with disparities tied to education levels.
- 3Highlights issues such as rising household debt, growing student loan balances (over $1.6 trillion), and shifting delinquency patterns, to illustrate the need for financial education.
- 4Emphasizes the role of financial education in improving worker satisfaction and productivity and the value of broad access to safe financial services.
- 5Reaffirms the federal framework for financial literacy efforts and the Financial Literacy and Education Commission as part of a national strategy, aligning the designation with ongoing policy goals.