Promoting financial literacy is a top priority of mine in running for State Treasurer, and recently I submitted testimony to the Indiana Republican Platform Committee encouraging the addition of a line addressing financial literacy to our 2022 Platform.
Below is adapted from the testimony I submitted to the Platform Committee:
The time is right for financial literacy to be front and center in Indiana. Whether you look at the National Financial Educators Council, Ramsey Solutions Research, or to Florida where Gov. DeSantis recently signed a bill into law on this very topic, the best compliment to a skilled workforce is smart management of personal finances.
The possession of skills necessary to make smart decisions with money leads to positive financial outcomes that enable financial freedom on a very personal level…and then comes the realization of why socialism never works.
With two-thirds of the U.S. population living paycheck-to-paycheck, there is no better opportunity to interface with Hoosiers on this topic than when they are students launching into life and seeking how to achieve their dreams.
We need to teach the tools of personal financial empowerment – from budgeting, saving and investing to understanding compounding interest, the difference between appreciating and depreciating assets, the importance of insurance, and why a solid credit score is essential.