††††††††††† Reps. Scripps, Bolger, Robert Jones, Kandrevas, LeBlanc, Liss, Lund, Mayes, Neumann, Rogers, Tlaib and Valentine offered the following resolution:

††††††††††† House Resolution No. 246.†† †

††††††††††† A resolution to declare April 2010 as Youth Financial Literacy Month in the state of Michigan.

††††††††††† Whereas, The informed use of credit and other financial products and services benefits individual consumers and promotes economic growth; and

††††††††††† Whereas, Financial literacy and learning these skills at an early age encourages greater economic self-sufficiency, higher levels of successful homeownership and enhanced retirement security, particularly among low and moderate income citizens; and

††††††††††† Whereas, The past decade has seen declining personal savings rates, increased bankruptcy filings, increased home foreclosures, and rising percentages of family income devoted to servicing household debt; and

††††††††††† Whereas, Given the current economic conditions facing Michigan, personal financial education and money management skills are crucial to ensure that our young people are prepared to manage credit and debt and become responsible workers, heads of households, homeowners, investors, entrepreneurs, business leaders, and productive citizens; and

††††††††††† Whereas, Young people represent the nationís single greatest future resource and will assume leadership positions and responsibility for advancement of our society; and

††††††††††† Whereas, Youth Financial Literacy Month highlights the commitment of credit unions throughout the nation to strengthen the financial knowledge of our youth and to prepare them for a fiscally responsible future; now, therefore, be it

††††††††††† Resolved by the House of Representatives, That the members of this legislative body declare April 2010 as Youth Financial Literacy Month in the state of Michigan.† We encourage all citizens to participate in the aims and goals of this effort by raising public awareness about the need for increased financial literacy in our schools and among our children. ††