Rubén Hinojosa: “Mr. Speaker, personal financial management skills and lifelong habits begin to develop during childhood. It is essential…”

“Mr. Speaker, personal financial management skills and lifelong habits begin to develop during childhood. It is essential that we begin preparing our youth as early as possible to make informed financial choices, as well as manage money, credit, debt, and risk, and become responsible workers, heads of household, investors, entrepreneurs, business leaders, and citizens. We need to begin working closely with the Department of Education in States and localities to ensure that we begin the financial literacy learning process at least by the time a child enters kindergarten, and we need to work with the States to encourage them to require some form of financial literacy as a required part of the education curriculum. Policymakers of both parties at the local, State, and Federal levels recently have increased their focus on financial literacy and economic education issues because national surveys from such groups as Jump$tart, the National Council on Economic Education, and the National Federation for Credit Counseling reveal troubling gaps in students' and the public's knowledge of these subjects. Economic competency and financial literacy skills are critical for individuals to make sound decisions regarding home ownership, in savings, investment, credit and borrowing, as well as retirement planning. An educated and literate populace will strengthen the national economy as individuals improve their own economic well-being.”