Washington, DC (September 29, 2006) – Last evening, the U.S. House of Representatives passed H.Res. 973, recognizing October 2-8, 2006 as “Financial Planning Week.”  The resolution, introduced by Representatives Rubén Hinojosa (TX-15) and Judy Biggert (IL-13), focuses on increasing people’s knowledge about their financial health and well-being by planning for their future.

“In today’s hectic world of 24-hour news cycles and not enough minutes, let alone hours in the day, combined with the daily challenges of balancing work and home, it’s so important that we all take the time to increase our financial knowledge and plan for a secure future,” said Hinojosa. 

Specifically, the goals of H. Res. 973 are to recognize the significant impact of financial planning on achieving an individual’s goals and how financial planning can play a vital role in helping individuals and families achieve financial independence.  According to  surveys published by the Consumer Federation of America and the Financial Planning Association, 77 percent of financial planners think its very important for Americans to understand what personal wealth is, but only 49 percent of Americans know its meaning.

“Like most people, we all have hopes and dreams and life goals for ourselves and our families,” Hinojosa continued.  “These might include buying a home or starting a small business; saving for our children’s college education; reducing our credit card debt; or retiring comfortably.  Whatever, your dream, I encourage you to take the time – either during this week, or in the near future – to sit down and really examine and understand your personal finances.  It’s never too late to start.”

Congressman Hinojosa is co-founder and current co-chair of the House Financial and Economic Literacy Caucus, and has long supported financial education.    The goal of the Caucus is to improve financial literacy rates for all individuals across the United States during all stages of  life.