Press Releases

Financial Literacy Is Vital in Struggling Economy

CPA Legislators Sponsor Third Financial Literacy Proclamation

HARRISBURG, Pa. – This year is the third consecutive year that the Pennsylvania House of Representatives has declared April, Financial Literacy Month. Pennsylvania Institute of Certified Public Accountants (PICPA) and CPA members of the House, Reps. John Maher, Gordon Denlinger and Mike Peifer, sponsored the resolution to convey the importance of effectively managing finances, especially sticking to budgets, understanding the consequences of debt, and recognizing the benefits of opening savings accounts.
           
Financial literacy is crucial in a volatile economy that includes soaring gas prices and a downturn in the housing market. Because of these factors, and many others, families need to take a closer look at their finances and make adjustments.

PICPA and the CPA profession have many programs targeted at educating consumers and helping them make prudent financial decisions. At www.picpa.org/financialliteracy consumers have access to information that include money management articles, a free online Ask a CPA service, and a couples financial compatibility quiz.

Nationally, the CPA profession has a comprehensive Web site, www.360financialliteracy.org. This site – created by the American Institute of Certified Public Accountants (AICPA) – includes articles on all stages of life, financial calculators, checkbook balancing tools, and more. On average, the site receives more than 144,000 visits per month.

On this third annual declaration of April being Financial Literacy Month, the CPA profession hopes consumers will access valuable resources available for them so they can take control and manage their finances.

Founded in 1897, the Pennsylvania Institute of Certified Public Accountants is a professional association of more than 19,000 CPAs who work in public accounting, industry, government, and education. PICPA is the second-oldest state CPA organization in the United States. To find a member CPA in your area, visit our Web site at www.picpa.org and click on CPA Locator. Students and educators can visit PICPA’s specially designed site www.CPAzone.org to get the latest information about careers in accounting and the CPA profession.