Governor Proclaims April as Financial Literacy Month

April 8, 2013

COLUMBIA, SC – April 8, 2013 – In recognition of the need for all South Carolina citizens to be financially literate, Governor Nikki Haley has signed a proclamation establishing that April 2013 is Financial Literacy Month. SC Economics, a non-profit organization established to help ensure that all South Carolina students leave high school with a sound economic and financial literacy background, is doing its part to spearhead literacy efforts this month. The organization is targeting teachers, families and K-12 students to build awareness of personal finance tools and resources.

Knowledge of finance and money is important to people of all ages and is crucial to the success of our state’s economy, says Jim Morris, CEO of SC Economics. The answer to overcoming economic decline begins in kindergarten with economic education and financial literacy. As the Governor’s Proclamation states, ‘With the acquisition of financial literacy skills, the people of South Carolina will improve their quality of life by making informed and responsible decisions regarding money management, finance, credit, and debt.

In 2012, 56 percent of teens planed to save part of their income. This number is down from 89 percent who planed to save in 2011. The proportion of adults who do not pay all of their bills on time has increased from 28 percent in 2011 to 33 percent in 2012. Fifty-four percent of 2011 South Carolina college graduates had student loan debt that exceeded $25,000.

Financial Literacy Month is an opportunity to create a new generation of young adults who are able to analyze situations, save, and secure their future based on personal choice, says Morris.

For more information on financial literacy resources, to include information on student competitions like the SC Finance Competition, the SC Economics Challenge, the Stock Market Game, and the Young Entrepreneur Awards visit www.SCEconomics.org.

 

About SC Economics

SC Economics is a statewide non-profit organization. It is dedicated to providing teachers with continuing education in economics and personal finance. Established in 1975, the organization helps to ensure that all South Carolina students leave high school with a sound foundation in economic principles, an understanding of the economy and how it works, and a strong appreciation for the American free enterprise system. For more information, visit www.SCEconomics.org.