S.Res.193 - Designating April 2025 as Financial Literacy Month. (119th Congress)
Summary
Senate Resolution 193 designates April 2025 as "Financial Literacy Month." The resolution aims to raise public awareness about the importance of personal financial education and the potential consequences of lacking financial understanding. It calls upon various entities, including the Federal Government, states, schools, and nonprofit organizations, to observe the month with relevant programs and activities.
Expected Effects
The resolution's designation of Financial Literacy Month is primarily symbolic. It is intended to encourage greater focus on financial education across the nation. Increased awareness and educational initiatives could lead to improved financial decision-making among individuals.
Potential Benefits
- Increased awareness of the importance of financial literacy.
- Encouragement of financial education programs and activities.
- Potential for improved financial decision-making by individuals.
- Empowerment of individuals to make wise financial decisions.
- Reduction of confusion caused by an increasingly complex economy.
Potential Disadvantages
- The resolution itself has no direct binding effect or funding attached.
- Success depends on voluntary participation and resource allocation by various entities.
- May not reach all segments of the population equally.
- Potential for financial education programs to be ineffective if not properly designed or implemented.
- No guarantee of measurable improvements in financial literacy or behavior.
Constitutional Alignment
The resolution aligns with the Constitution's broad goals of promoting the general welfare. While the Constitution does not explicitly mention financial literacy, Congress has the power to enact legislation deemed necessary and proper for carrying out its enumerated powers (Article I, Section 8). Promoting financial literacy can be seen as contributing to a more stable and prosperous citizenry, which aligns with the general welfare clause.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).