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U.S. Senator Mike Enzi, R-Wyo., cosponsored a resolution declaring April as Financial Literacy Month in effort to highlight the importance of learning and maintaining healthy financial habits. According to a 2017 report by the Federal Deposit Insurance Corporation (FDIC), approximately 25 percent of households in the United States are unbanked or underbanked and have limited or no access to savings, lending and other basic financial services. Financial literacy empowers individuals to make wise financial decisions and reduces the difficulty of making decisions in an increasingly complex economy.

The resolution was led by U.S Senators Tim Scott (R-SC), Jack Reed (D-RI), and Doug Jones (D-AL), co-chairs of the financial literacy caucus,  and cosponsored by Sens. John Barrasso (R-WY), Cory Booker (D-NJ), John Boozman (R-AR), Mike Braun (R-IN), Maria Cantwell (D-WA), Shelley Moore Capito (R-WV), Ben Cardin (D-MD), Tom Carper (D-DE), Bill Cassidy (R-LA), Chris Coons (D-DE), Kevin Cramer (R-ND), Mike Crapo (R-ID), Dick Durbin (D-IL), Mike Enzi (R-WY), Joni Ernst (R-IA), Dianne Feinstein (D-CA), Maggie Hassan (D-NH), Cindy Hyde-Smith (R-MS), Joe Manchin (D-WV), Bob Menendez (D-NJ), Patty Murray (D-WA), Gary Peters (D-MI), David Perdue (R-GA), Pat Roberts (R-KS), Jacky Rosen (D-NV), Jon Tester (D-MT), Thom Tillis (R-NC), Sheldon Whitehouse (D-RI), Roger Wicker (R-MS), and Todd Young (R-IN).

“Financial literacy, just like standard literacy, is fundamental to successfully navigating our world,” Enzi said. “Financial education is all about having the information to plan for your future and the tools to understand the risks and rewards. The more financially literate people are, the better off our country will be.”