H. Res. 357 
In the House of Representatives, U. S., 
April 29, 2009. 
Whereas personal financial literacy is essential to ensure that 
individuals are prepared to make informed financial 
choices, as well as manage money, credit, debt, and risk 
and become responsible workers, heads of households, in-
vestors, entrepreneurs, business leaders, and citizens; 
Whereas personal financial management skills and lifelong 
habits begin to develop during childhood, making it all 
the more important to support youth financial education; 
Whereas a 2008 survey of high school seniors conducted by 
the Jump$tart Coalition for Personal Financial Literacy 
revealed that students in 2008 answered correctly only 
48.3 percent of the survey’s questions, a decline from 
those posted by students in 2006, who correctly answered 
52.4 percent of the questions; 
Whereas 84 percent of undergraduates had at least one credit 
card in 2008, up from 76 percent in 2004, with the aver-
age number of cards increasing to 4.6 according to Sallie 
Mae’s National Study of Usage Rates and Trends 2009 
entitled ‘‘How Undergraduate Students Use Credit 
Cards’’; 
Whereas personal saving as a percentage of disposable per-
sonal income was 4.2 percent in February, compared
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with 4.4 percent in January, and up from a 12-month av-
erage of 1.7 percent in 2008, according to the Bureau of 
Economic Analysis; 
Whereas the average baby boomer has only $50,000 in sav-
ings apart from equity in their homes, according to the 
Federal Reserve Board’s Survey of Consumer Finances 
for 2007; 
Whereas studies show that as many as 10,000,000 house-
holds in the United States are ‘‘unbanked’’ or are with-
out access to mainstream financial products and services; 
Whereas public, community-based, and private sector organi-
zations throughout the United States are working to in-
crease financial literacy rates for Americans of all ages 
and walks of life through a range of outreach efforts, in-
cluding media campaigns, websites, and one-on-one finan-
cial counseling for individuals; 
Whereas bankers across the United States taught savings 
skills to young people on April 21, 2009, during Teach 
Children to Save Day, which was started by the Amer-
ican Bankers Association Education Foundation in April 
of 1997 and has now helped more than 72,000 bankers 
teach savings skills to nearly 3,200,000 young people; 
Whereas staff from America’s credit unions are making pres-
entations to young people at local schools on financial 
topics such as student loans, balancing a checkbook, and 
auto loans during National Credit Union Youth Week, 
April 19–25, 2009; 
Whereas more than 100 Federal agencies have collaborated 
on a website, www.consumer.gov, which helps consumers 
shop for a mortgage or auto loan, understand and rec-
oncile credit card statements and utility bills, choose sav-
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ings and retirement plans, compare health insurance poli-
cies, and understand their credit report and how it af-
fects their ability to get credit and on what terms; 
Whereas Members of the United States House of Representa-
tives established the Financial and Economic Literacy 
Caucus (FELC) in February 2005 to provide a forum for 
interested Members of Congress to review, discuss and 
recommend financial and economic literacy policies, legis-
lation, and programs, collaborate with the private sector, 
and nonprofit and community-based organizations, and 
organize and promote financial literacy legislation, semi-
nars, and events, such as ‘‘Financial Literacy Month’’ in 
April, 2009, and the annual ‘‘Financial Literacy Day 
Fair’’ on April 30, 2009; and 
Whereas the Council for Economic Education, its State 
Councils and Centers for Economic Education, the 
Jump$tart Coalition for Personal Financial Literacy, its 
State affiliates, and its partner organizations, and JA 
Worldwide have designated April as Financial Literacy 
Month to educate the public about the need for increased 
financial literacy for youth and adults in the United 
States: Now, therefore, be it 
Resolved, That the House of Representatives— 
(1) supports the goals and ideals of Financial Lit-
eracy Month, including raising public awareness about 
financial education; 
(2) recognizes the importance of managing personal 
finances, increasing personal savings, and reducing per-
sonal debt in the United States; and
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(3) requests that the President issue a proclamation 
calling on the Federal Government, States, localities, 
schools, nonprofit organizations, businesses, other enti-
ties, and the people of the United States to observe the 
month with appropriate programs and activities with the 
goal of increasing financial literacy rates for individuals 
of all ages and walks of life. 
Attest: 
Clerk.