Political Quotes

“yesterday I introduced the College Literacy in Finance and Economics Act--the College LIFE Act. This bill is a response to the dire need in our country for greater financial literacy among young adults. To be financially literate is to possess one of the most empowering life skills that an individual can have. Those who have a sound understanding of personal finance and economics are better prepared for the many pivotal moments that they encounter in life where decisions about money must be made. Sound decisionmaking in those instances separate the financially literate from the financially illiterate. Those who effectively evaluate their financial choices, wisely manage their personal finances, and budget and save live more financially stable and secure lives. Those who make poor decisions about money live without financial certainty and become vulnerable to anticonsumer business practices and unscrupulous lenders. Financial independence begins during or immediately after college for many of us and brings with it new opportunities and challenges. Before we buy a home, put a child through school, or retire, we make choices about purchasing a car, buying with credit in lieu of cash, and balancing our ``wants'' and ``needs'' while struggling to extract rent out of our first few paychecks. From that point on, financial choices increase in cost and magnitude.…”