Obama Creates New Financial Literacy Advisory Council

Earlier this week, through an executive order, President Obama established a Presidential Advisory Council charged with building the financial capability of young Americans. With consumers facing new financial challenges in today’s perplexing economy, it is essential for Americans to develop basic financial skills and knowledge.  It is the hope of President Obama, under the tutelage of his Financial Capability Advisory Council, to teach Americans the core skills of finance in order to better prepare young people for the future.

Research shows that a sound financial footing early in life is critical for success in the future. The previous Council’s recommendations centered on the importance of promoting financial education in schools, in the workplace, and in families and communities. This new council will push for the same and will advise the President and his administration on ways to improve the financial skills of young Americans so that they can make smart decisions about going to college, using financial products, and even saving for retirement.

In establishing this new Council, President Obama looks to improve the nation’s financial capability in an era when financial education is increasingly essential.  For more information, please click here.