Today is Financial Literacy Day on Capitol Hill, but Congressman Mike Simpson would like to see awareness on this issue continue throughout the year.

“Financial literacy allows individuals to make sound financial decisions, provide for their own economic security, and meet goals like obtaining a college education, starting a small business, or owning a home,” Simpson said.

The current economic environment has made it clear that the financial crisis we face is not only a national one, but an individual one as well. The high cost of education and other goods and services and the easy availability of credit have left many Americans deeply in credit card debt. The mortgage crisis has revealed that many Americans purchased homes without knowing what they were getting into and have now discovered that they don’t have the ability to pay their mortgages in the long term.

Financial literacy efforts in Idaho and other programs across the country educate Americans on how to manage their finances and prepare for the future.

Simpson is a strong supporter of financial education programs in schools.  “When young people learn to be financially responsible at an early age, they benefit throughout their lives,” Simpson said.  “However, it is never too late to become money-wise.”

To learn more about saving and investing wisely visit Idaho’s Department of Finance’s financial literacy website at www.finance.idaho.gov/Education/FinancialLiteracy. This site also provides tips about protecting yourself from fraud, and effectively managing finances for your family or your business.