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WHEREAS, it is essential to the Commonwealth that its residents are financially literate, responsible, and able to properly manage money, credit, and debt; and
WHEREAS, it is incumbent upon the Commonwealth to support initiatives that promote and advance financial literacy education; and
WHEREAS, United States consumer debt totaled more than $14 trillion at the end of last year; and
WHEREAS, borrowers began this year owing more than $1.7 trillion in student loans, an increase of nearly 4% compared to quarter three of 2019; and
WHEREAS, Americans decreased credit card debt last year by $34 billion; and
WHEREAS, Americans also decreased overall debt delinquency last year; and
WHEREAS, public, consumer, community-based, and private sector organizations throughout the Commonwealth are working to educate the public on personal finance issues and increase financial literacy for Virginians of all ages; and
WHEREAS, it is important to encourage all Virginians to recognize the many educational resources available to the public; and
WHEREAS, during Financial Literacy Month, we should promote responsible financial planning and personal budgeting;
NOW, THEREFORE, I, Ralph S. Northam, do hereby recognize April 2021 as FINANCIAL LITERACY MONTH in our COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.