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WHEREAS, it is essential to the Commonwealth that its citizens are financially literate, responsible, and able to properly manage money, credit, and debt; and
WHEREAS, it is important that the Commonwealth support initiatives that promote and advance financial literacy education; and
WHEREAS, United States consumer debt is approximately $14 trillion as of December 31, 2019, of which credit card debt exceeded $1 trillion; and
WHEREAS, Americans owe more than $1.5 trillion in student loans as of December 31, 2019; and
WHEREAS, on average, Americans save only 7.6 percent of their income as of December 2019; 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 it is important to encourage responsible financial planning and personal budgeting;
NOW, THEREFORE, I, Ralph S. Northam, do hereby recognize April 2020 as FINANCIAL LITERACY MONTH in our COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.