The Creation of National Financial Literacy Month

By: Brittany DeDiego, Fall 2014 Student Intern

On March 31, 2011, President Barack Obama signed a presidential proclamation making April National Financial Literacy Month. According to the proclamation, National Financial Literacy Month was created in response the recent 2008 economic crisis. The purpose of creating this month was to improve the financial literacy and ensuring all Americans have access to trustworthy financial services and products. President Obama created this campaign in addition to several pieces of legislation, including the Credit Card Accountability, Responsibility, and Disclosure Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act. President Obama also established the President’s Advisory Council on Financial Capability to help Americans understand and address financial matters and to identify effective approaches to increase financial capability through education and access. The National Strategy for Financial Literacy provides a new framework for strategic coordination and an overarching financial literacy strategy. The strategy lists four main goals including increasing awareness of and access to effective financial education; determining and integrating core financial competencies; improving financial education and infrastructure; and identifying, enhancing, and sharing effective practices.

For more information about financial literacy, go here and here. All month, we’ll be providing more information on financial literacy, so please be sure to follow us for more information.