Washington, DC – Today, U.S. Representatives Young Kim (CA-40) and Joyce Beatty (OH-03), who serve as co-chairs of the Financial Literacy and Wealth Creation Caucus, hosted a financial education resource fair titled, “Banking on the Future Through Financial Education.”
The fair celebrated Financial Literacy Month and aimed to build awareness about the importance of financial education and resources. This free, bipartisan event on Capitol Hill was open to the public. Representatives from 30 government agencies, nonprofits, and financial institutions provided attendees with materials and strategies to achieve financial security, stability, and wealth creation.
Only 57% of U.S. adults are financially literate. The fair covered resources such as fraud protection, budgeting, savings, retirement preparation, credit and debt management, and investing. In 2023, the cost of financial illiteracy averaged $1,506 per American, amounting to over $388 billion nationwide due to factors such as credit card interest and fees, overspending, overdraft fees, and fraud.
“One’s zip code shouldn’t determine one’s ability to achieve the American dream. That’s why I’m working to ensure Americans can access financial literacy tools to help them take control of their finances and their futures,” said Congresswoman Kim. “I thank the 30 organizations who joined Rep. Beatty and me to share free resources to the Capitol Hill community as we celebrate Financial Literacy Month. I’ll keep doing my part as Financial Literacy and Wealth Creation Caucus co-chair to equip Americans with the tools to grow their wealth and achieve their dream.”
“I am deeply committed to ensuring that every American has the knowledge and tools needed to navigate the complexities of our financial system,” said Congresswoman Beatty. “That’s why I’m so grateful to the 30 organizations who joined us today to propel attendees forward on their financial management journey. Their support helps the Congressional Financial Literacy and Wealth Creation Caucus reach its aim of giving Americans the tools and resources they need to be economically stable, build wealth, and thrive. Together, we can put every American on the path to financial freedom.”
For a full list of fair participants see HERE.
For additional photos from the event click HERE and HERE.
For video of Reps. Kim and Beatty’s remarks click HERE.
About the Congressional Financial Literacy and Wealth Creation Caucus
The Financial Literacy and Wealth Creation Caucus aims to equip Americans with the skills and resources they need for economic stability, wealth-building, and prosperity. The caucus forms and promotes comprehensive, result-driven strategies that empower individuals to make better financial decisions, realize their economic goals, and establish a stronger financial footing for themselves and future generations. Caucus seeks to promote education, policy and public-private collaboration in advancing financial literacy.
