Texas Comptroller Glenn Hegar is partnering with members of the Texas Legislature to help give young Texans the knowledge and skills they need to make better-informed personal financial decisions in saving, spending, borrowing and planning. The partnership is in concert with nationwide Financial Literacy Month, which began April 1.
“The events of the past 12 months have only highlighted the need to promote financial literacy at an early age,” Hegar said. “As the school year winds down, we’re reminded that the goal of education is to prepare students to meet life’s challenges. It’s never been more important to equip them with the tools they will need to sustain lifelong financial health. That goal is more achievable if we take small steps early on to promote basic financial literacy.”
Financial Literacy Month highlights initiatives to help consumers learn more about managing their finances to benefit their lives. One such initiative is Money Smart Week, a project coordinated by the Federal Reserve Bank of Chicago which began Saturday, April 10, with a series of webinars on topics including savings, affordable bank accounts, housing protections and student loans.
Hegar participated last year in the Money Smart Week® Kids Read program, which featured a children’s book selected by the American Library Association and Consumer Financial Protection Bureau. Hegar read The Berenstain Bears’ Trouble with Money, which aptly begins, When little bears spend every nickel and penny, the trouble with money is they never have any.
“As the father of three teenagers, I understand only too well that it’s never too early for young people to learn good financial habits,” Hegar said. “Studies show that students who take financial literacy courses are more likely to save, less likely to max out their credit cards and better able to choose cost-effective options to finance college.”
