Gov. Sam Brownback signed a proclamation Monday declaring April as Financial Literacy Month, urging Kansans to understand how to manage their money, credit, investments, and debt.
“Personal financial literacy among today’s youth will contribute to the financial stability of tomorrow’s workforce and to the growth, success, and prosperity of the Kansas economy,” Brownback said.
Kansas Securities Commissioner Josh Ney and members of Money Smart Kansas, a community outreach initiative that promotes financial awareness, attended the proclamation signing. According to a study cited by Money Smart Kansas, 59 percent of Kansans do not have a rainy day fund. The Federal Reserve Bank of Kansas City reports that the average non-mortgage consumer debt in Kansas has risen from $11,000 to $15,000 in the past decade.
“These kinds of evidences support our belief that financial literacy is a critical life skill,” said Shannon Stone, director of investment education for the office of the Kansas Securities Commissioner, in a press release. “Oftentimes, we do not learn about the importance of budgeting and establishing good credit, or the importance of understanding the risks associated with an investment until after we’ve suffered loss.”
To learn more or find out about financial literacy events, visit http://www.moneysmartkansas.org.