Governor Sam Brownback has signed a proclamation declaring the month of April as Financial Literacy Month in the state of Kansas, noting that financial literacy is essential to ensuring that Kansans are well prepared to manage money, credit, investments and debt.
The governor also noted in his proclamation that “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.” In attendance at the proclamation signing were Kansas Securities Commissioner Josh Ney and members of Money Smart Kansas, an annual community outreach initiative that promotes and encourages financial awareness for all ages.
According to a study cited by Money Smart Month Kansas, 59% of Kansans do not have a rainy day fund, and 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 last decade. “These kinds of evidences support our belief that financial literacy is a critical life skill,” said Shannon Stone, Director of Investor Education for the Office of the Kansas Securities Commissioner. “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. The lack of financial education can be very costly. Commissioner Ney actively supports initiatives such as Money Smart Month that empower Kansans with knowledge so they will be able to make wise decisions when it comes to their personal finances.”
Money Smart Kansas will be promoting a series of classes and workshops designed to help consumers make positive financial decisions throughout April. The Kansas Securities Commissioner’s office is participating in the Money Smart Day kick-off event, which takes place April 5 from 9:00 a.m. to 12:00 p.m. at the Topeka and Shawnee County Public Library. For a limited time, Vault, an online financial literacy learning tool for elementary-aged children, will be available for free to parents who sign up at the Commissioner’s booth at this Money Smart Kansas event.
To learn more or find out about Financial Literacy events near you, visit: www.moneysmartkansas.org.