Latest News from State Capitol and 55th District

April 16, 2025

Financial Literacy: The Foundation for the American Dream

U.S. Treasury Secretary Scott Bessent recently said, “I firmly believe financial literacy is the foundation for the American Dream.”

It’s not hard to see why. Every person should have the opportunity to improve their station in life. But that’s hard to do without the crucial building blocks financial literacy offers.

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting and investing. When you are financially literate, you have the essential foundation for a smart relationship with money.

When Senate Bill 843 came to a vote on the House floor, I was an emphatic yes. While it contained several amendments to the Public School Code, the key change in my eyes was a first-ever financial literacy requirement for high school students in Pennsylvania.
 
That bill became Act 35 of 2023, requiring all public schools to teach a half a credit of personal financial literacy for high school students starting with the 2026-27 school year. The legislation also directs the Pennsylvania Department of Education to develop a curriculum for the class, working with organizations specializing in financial literacy education.

However, you don’t need to be a high schooler in the public education system to brush up on your financial literacy. April is Financial Literacy Month, and the Financial Literacy and Education Commission has several tips to help you be “money smart.” The commission came up with the “MyMoney Five,” which are five principles to keep in mind while making day-to-day decisions and planning your financial goals.

The five principles are earn, save and invest, protect, spend, and borrow. The earning principle means making the most of what you earn by understanding your pay and benefits. Saving and investing preaches that it’s never too early to start saving for future goals such as a house or retirement, even by saving small amounts. Protecting means taking precautions about your financial situation, accumulating emergency savings, and having the right insurance. Spending means making sure you are getting a good value, especially with big purchases, by shopping around and comparing prices and products. Finally, borrowing means understanding that borrowing money can enable some essential purchases and builds credit, but interest costs can be expensive. If you borrow too much, you will end up with a larger debt to be repaid.

In addition to these five principles, the Financial Literacy and Education Commission also has some tools to help you make smart financial decisions. For example, you can access several calculators for retirement estimation, debt payoff, tax withholding and more. You can also use their wide range of budgeting worksheets and checklists to help you safeguard valuables, prepare for financial emergencies and more. You can access these tools, and learn more about the five principles, at MyMoney.gov.

It's never too early, or too late, to learn more about financial literacy. A little time spent learning how to make smart financial decisions can go a long way toward living your own American Dream.

Here are some additional news topics and reminders I would like to share.

Stay Alert in Work Zones - April 21-25, is National Work Zone Awareness Week, a time to remind drivers to be cautious, alert and respectful while traveling through areas of roadway and bridge construction. This year’s theme is “Respect the Zone So We All Get Home.”

The message is all the more poignant after a highway worker was killed in a work zone crash on Route 581 near Harrisburg earlier this week. 

When you encounter work zones, PennDOT offers the following tips: drive the posted work zone speed limit; stay alert and pay attention to signs and flaggers; maintain a safe distance around vehicles; use flashers if traveling slowly; avoid distractions; and be patient.

State law requires motorists to travel with their headlights on in all posted work zones, not just active work zones. Daytime running lights are not sufficient; drivers must have their headlights on to also activate their taillights.

Drivers also should be aware that interstate work zones with a project cost exceeding $300,000 will have a speed-monitoring device to alert motorists of their speed prior to entering the work zone.

Remember: The men and women working on our roadways are parents, children, siblings and spouses. They deserve to return home from work each day safely. 

Protecting Children from Abuse - April is Child Abuse Prevention Month. While state laws have identified people, such as teachers, health care providers and clergy members, who are mandated to report suspected cases of abuse, we all have a role to play in protecting our children. 

Signs of potential physical, sexual or emotional abuse or neglect may include sudden changes in a child’s behavior or school performance; being overly compliant, passive or withdrawn; always watchful, as though preparing for something bad to happen; and a reluctance to be around a particular person or to return home from school or activities.

If you suspect a child is being abused or neglected, call PA ChildLine at 1-800-932-0313.


Representative Jill Cooper
55th Legislative District
Pennsylvania House of Representatives
Media Contact: Jordan Frei
724.875.8450
jfrei@pahousegop.com
RepJillCooper.com / Facebook.com/RepJillCooper