Americans need basic financial literacy skills to make informed financial decisions, avoid scammers and predatory financial providers and products, and save for retirement, Beatty said. The caucus was established to promote a better understanding of these issues.
“I look forward to working with Congressman Stivers, a fellow Central Ohioan, to ensure more people in the Buckeye State and nationwide can better manage their credit and budget and understand their financial obligations to save for the future,” Beatty said. “Financial literacy is a lifelong journey, and it is imperative that we equip every American with the much-needed skills and tools to navigate it successfully.”
Knowledge of economic concepts is critical to helping Americans have a financially secure future, said Stivers, who has co-chaired the committee since the 113th Congress.
“Unfortunately, many Americans are not educated enough in topics such as budgeting, personal finance, and retirement – all of which can have an impact on your financial future,” Stivers said. “I am looking forward to working with Representative Beatty to fulfill the purpose of the Financial and Economic Literacy Caucus: improve the financial literacy and economic education of all individuals across the United States during all stages of their lives.”