IV 
111TH CONGRESS 
1ST SESSION 
H. RES. 357 
Supporting the goals and ideals of Financial Literacy Month 2009, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 23, 2009 
Mr. HINOJOSA (for himself, Mr. BACA, Mrs. BACHMANN, Mr. BACHUS, Mr. 
BECERRA, Mrs. BIGGERT, Mr. BILBRAY, Mr. CAMPBELL, Mrs. CAPITO, 
Mr. CAPUANO, Mr. CARDOZA, Mr. CASTLE, Mr. CONYERS, Mr. COSTA, 
Mr. CUELLAR, Mr. DAVIS of Kentucky, Mr. DREIER, Mr. EHLERS, Ms. 
FUDGE, Mr. GARRETT of New Jersey, Mr. GERLACH, Mr. GONZALEZ, 
Mr. AL GREEN of Texas, Mr. BARRETT of South Carolina, Mr. 
GRIJALVA, Mr. GUTIERREZ, Mr. HIMES, Mr. HODES, Ms. JENKINS, Ms. 
EDDIE BERNICE JOHNSON of Texas, Mr. JONES, Mr. KING of New York, 
Mr. LEE of New York, Mr. LEWIS of Georgia, Mr. LUJA´N, Mr. 
MARCHANT, Mrs. MCCARTHY of New York, Mr. MCCOTTER, Mr. 
MCHENRY, Mr. MEEKS of New York, Mr. MOORE of Kansas, Mr. MUR-
THA, Mrs. NAPOLITANO, Mr. NEUGEBAUER, Mr. ORTIZ, Mr. PASTOR of 
Arizona, Mr. PIERLUISI, Mr. PRICE of Georgia, Mr. PUTNAM, Mr. 
REYES, Mr. RODRIGUEZ, Mr. ROSKAM, Ms. ROYBAL-ALLARD, Mr. 
ROYCE, Mr. SABLAN, Mr. SALAZAR, Ms. LINDA T. SA´NCHEZ of Cali-
fornia, Mr. SERRANO, Mr. SESSIONS, Mr. SIRES, Ms. VELA´ZQUEZ, Ms. 
WATSON, Mr. MANZULLO, Mr. PAULSEN, and Mr. HENSARLING) sub-
mitted the following resolution; which was referred to the Committee on 
Financial Services 
RESOLUTION 
Supporting the goals and ideals of Financial Literacy Month 
2009, and for other purposes. 
Whereas personal financial literacy is essential to ensure that 
individuals are prepared to make informed financial 
VerDate Nov 24 2008 
02:33 Apr 24, 2009
Jkt 079200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6300
E:\BILLS\HR357.IH
HR357
jbell on PROD1PC69 with BILLS
•HRES 357 IH 
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 
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; 
VerDate Nov 24 2008 
02:33 Apr 24, 2009
Jkt 079200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6300
E:\BILLS\HR357.IH
HR357
jbell on PROD1PC69 with BILLS