April 2016: Financial Literacy Month

WHEREAS, the Michigan House of Representatives declared April 2013 as Financial Literacy Month in Michigan; and,

WHEREAS, the Michigan Senate declared April 2014 as Youth Financial Literacy Month in the State of Michigan, encouraging the raising of public awareness about the need for increased financial literacy in our schools and communities; and,

WHEREAS, a recent survey conducted by WalletHub found that even after the 2008 Financial Crisis, 20% of Americans still spend more than they make and 60% still don’t have a rainy day fund; and,

WHEREAS, according to consumer credit and debt statistics released by the Federal Reserve, consumer debt as a percentage of disposable income is at a level higher than observed preceding and during the 2008 Financial Crisis; and,

WHEREAS, the financial well-being of individuals is directly linked to the nation's economic progress. Improved financial literacy, through financial education and training, promotes individual responsibility, knowledgeable citizenship and stronger communities; and,

WHEREAS, during this month, non-profit organizations, financial institutions, educational institutions, local governments, and community organizations join to raise awareness of the importance of financial literacy and training for Michigan residents; 

NOW, THEREFORE, I, Rick Snyder, governor of Michigan, do hereby proclaim April 2016 as Financial Literacy Month in Michigan.