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Whereas almost 55.3 percent of Black households, and 48.6 
percent of Hispanic households are either unbanked or 
underbanked; 
Whereas according to the 2013 Consumer Financial Literacy 
Survey Final Report of the National Foundation for 
Credit Counseling, 40 percent of adults in the United 
States gave themselves a grade of C, D, or F on their 
knowledge of personal finance; 
Whereas the 2014 Retirement Confidence Survey conducted 
by the Employee Benefit Research Institute found that 
only 18 percent of workers were ‘‘very confident’’ about 
having enough money for a comfortable retirement, up by 
5 percent points from the previous year, but a sharp de-
cline in worker confidence from the 27 percent of workers 
who were ‘‘very confident’’ in 2007; 
Whereas according to the 2014 Retirement Confidence Sur-
vey conducted by the Employee Benefit Research Insti-
tute, less than half of workers (44 percent) in the United 
States have tried to calculate how much they need to save 
for retirement; 
Whereas the 2014 Retirement Confidence Survey conducted 
by the Employee Benefit Research Institute found that 
58 percent of workers and 44 percent of retirees report 
having a problem with their level of debt; 
Whereas according to a 2014 ‘‘Flow of Funds’’ report by the 
Board of Governors of the Federal Reserve System, 
household debt stood at $13,100,000,000,000 at the end 
of the fourth quarter of 2013; 
Whereas according to the 2013 Consumer Financial Literacy 
Survey Final Report of the National Foundation for 
Credit Counseling, 26 percent, or more than 61,000,000 
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•HRES 535 IH 
adults, admit to not paying all of their bills on time, a 
decrease from 33 percent or 77,000,000 adults in 2012; 
Whereas according to the 2013 Consumer Financial Literacy 
Survey Final Report of the National Foundation for 
Credit Counseling, only 40 percent of adults keep close 
track of their spending; 
Whereas according to the 2013 Consumer Financial Literacy 
Survey Final Report of the National Foundation for 
Credit Counseling, 31 percent of adults in the United 
States report that they have no savings, and 43 percent 
of United States adults say they are saving less in 2013 
than the year before; 
Whereas according to the seventh Council for Economic Edu-
cation biennial Survey of the States 2014: Economic, 
Personal Finance, and Entrepreneurship Education in 
Our Nation’s Schools, only 22 States require students to 
take an economics course as a high school graduation re-
quirement, and only 16 States require the testing of stu-
dent knowledge in economics, down from 25 in 1998; 
Whereas according to the seventh Council for Economic Edu-
cation biennial Survey of the States 2014: Economic, 
Personal Finance, and Entrepreneurship Education in 
Our Nation’s Schools, only 17 States require students to 
take a personal finance course either independently or as 
part of an economics course as a high school graduation 
requirement; 
Whereas according to the 2013 Girl Scout Research Insti-
tute’s report, ‘‘Having It All: Girls & Financial Lit-
eracy’’, 90 percent of girls say it is important to learn 
how to manage money but just 12 percent say they feel 
confident in making financial decisions; 
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•HRES 535 IH 
Whereas expanding access to the mainstream financial sys-
tem will provide individuals with less expensive and more 
secure options for managing finances and building 
wealth; 
Whereas quality personal financial education is essential to 
ensure that individuals are prepared to manage money, 
credit, and debt, and to become responsible workers, 
heads of households, investors, entrepreneurs, business 
leaders, and citizens; 
Whereas increased financial literacy empowers individuals to 
make wise financial decisions and reduces the confusion 
caused by an increasingly complex economy; 
Whereas a greater understanding of, and familiarity with, fi-
nancial markets and institutions will lead to increased 
economic activity and growth; 
Whereas in 2003, Congress found it important to coordinate 
Federal financial literacy efforts and formulate a national 
strategy; and 
Whereas in light of that finding, Congress passed the Finan-
cial Literacy and Education Improvement Act, estab-
lishing the Financial Literacy and Education Commis-
sion: Now, therefore, be it 
Resolved, That the House of Representatives— 
(1) supports the goals and ideals of ‘‘Financial 
Literacy Month’’, to raise public awareness about— 
(A) the importance of personal financial 
education in the United States; and 
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(B) the serious consequences that may re-
sult from a lack of understanding about per-
sonal finances; and 
(2) calls on the Federal Government, States, lo-
calities, schools, nonprofit organizations, businesses, 
and the people of the United States to support the 
goals and ideals of ‘‘Financial Literacy Month’’ with 
appropriate programs and activities. 
Æ 
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