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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 citizen in 
7the past 12 months was $29,519 and the median household income 
8is $56,853; and
  
 
9    WHEREAS, The percentage of persons below the poverty level 
10in the State of Illinois is 13.7%; and
  
 
11    WHEREAS, Many citizens have difficulty managing money due 
12to a lack of financial literacy; and
  
 
13    WHEREAS, In 2008, the President's Advisory Council defined 
14financial literacy as "the ability to use knowledge and skills 
15to manage financial resources effectively for a lifetime of 
16financial wellbeing"; and
 
17    WHEREAS, Financial literacy helps to provide the tools to 
18make informed choices, avoid pitfalls, and improve present and 
19long-term financial security; and
  
 
 
 
HR0780- 2 -LRB098 17716 GRL 52831 r

1    WHEREAS, Gaining financial literacy skills improves the 
2quality of life, provides skills for success, contributes to 
3communities, and benefits the economy; and
  
 
4    WHEREAS, It is everyone's responsibility to learn the facts 
5of investing, take charge of their money, realize the 
6importance of saving towards their family's future, and 
7understand that it is never too late to invest; and
 
8    WHEREAS, A lack of financial knowledge can lead to 
9devastating money problems, including unmanageable debt or 
10even home foreclosure; therefore, be it
  
 
11    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE 
12NINETY-EIGHTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that 
13we designate April of 2014 as Financial Literacy Month in the 
14State of Illinois.