Why Is Financial Literacy Important To Legislators?

Financial literacy should be particularly important to legislators, because training in the basics of financial literacy supports the goals of Washington’s Basic Education Act [RCW 28A.150.210] which states that "the goal of the Basic Education Act for the schools of the State of Washington set forth in this chapter shall be to provide students with the opportunity to become responsible citizens, to contribute to their own economic well-being and to that of their families and communities, and to enjoy productive and satisfying lives.

Training in financial literacy fundamentals helps consumers:

• Protect themselves from financial fraud;
• Shop for reasonable rates on credit, savings, and insurance products;
• Plan for retirement; and
• Make smart decisions on community tax and bond issues!

The national Jump$tart Coalition for Personal Financial Literacy web site has a Clearinghouse of materials that are available, many free of charge. We’ve included several on our site, and you can also go to http://www.jumpstart.org/search.cfm for more searching.