[Congressional Record Volume 152, Number 49 (Monday, May 1, 2006)]
[Extensions of Remarks]
[Pages E670-E671]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 H. RES. 737--``RECOGNIZING THE GOALS AND IDEALS OF FINANCIAL LITERACY 
 MONTH'' AND FINAL RESULTS OF THE 2006 STOCK MARKET GAME CAPITOL HILL 
                               CHALLENGE

                                 ______
                                 

                          HON. RUBEN HINOJOSA

                                of texas

                    in the house of representatives

                          Monday, May 1, 2006

  Mr. HINOJOSA. Mr. Speaker, I would like to submit for the Record the 
National Council on Economic Education's letter in support of H. Res. 
737, a bill Recognizing the Goals and Ideals of Financial Literacy 
Month that falls in April of each year. Congresswoman Judy Biggert (R-
IL) and I introduced the bill earlier this year. The House Committee on 
Government Reform reported the bill out favorably to the House floor, 
and it passed the House on April 6, 2006 by a recorded vote of 423-1.
  I would like to submit for the Record the Final Results of the 2006 
Stock Market Game Capitol Hill Challenge as it pertains to my district. 
During the Challenge, 78 schools from across the country, and one 
school in Germany, invested 100,000 hypothetical dollars into the U.S. 
markets. Ten teams from La Feria High School in my district 
participated in the Challenge. I want to personally commend them for 
their valiant efforts to learn the ins and outs of the stock market and 
congratulate all of them for their excellent performance. I look 
forward to more high schools in my district participating in this 
Challenge next year.
  Finally, I would like to submit for the Record an article by Brigitte 
Yuille of Bankrate.com entitled ``10 tips to make your children money-
wise.'' I believe that it provides some excellent recommendations for 
parents to improve their children's financial literacy.


                                           National Council on

                            Economic Education, April 5, 2006.

     Hon. Judy Biggert,
     House of Representatives, Longworth House Office Building, 
         Washington, DC.
     Hon. Ruben Hinojosa,
     House of Representatives, Rayburn House Office Building, 
         Washington, DC.
       Dear Representatives Biggert and Hinojosa: On behalf of the 
     National Council on Economic Education (NCEE), I am writing 
     to express my support for H. Res. 737, a Resolution 
     Supporting the Goals of Financial Literacy Month. I 
     understand that the House is scheduled to vote on H. Res. 737 
     today, and I want to commend you and your colleagues for 
     highlighting the importance of financial and economic 
     education.
       The NCEE is a nonprofit organization that has worked to 
     enhance elementary and secondary economic and financial 
     literacy education since 1949. Since that time, our 
     organization has established comprehensive programs that 
     equip teachers with tools to get economics and personal 
     finance into the classroom, and to help students apply in 
     their lives what they learn in school. The NCEE operates 
     through a network of state councils and university-affiliated 
     centers for economic education, which allows us to reach 
     teachers, and through them students, across the country.
       H. Res. 737 provides a timely ``call to action'' to leaders 
     in government and education, as well as parents and students, 
     to improve financial and economic literacy. This national 
     priority begins with providing students with the solid 
     grounding in the fundamentals of economics and personal 
     finance that will lead to sound decisions through life. H. 
     Res. 737 correctly recognizes that school education is the 
     beginning of this process, and that it is also important to 
     ``improve financial literacy rates for Americans of all ages 
     and walks of life.''
       We look forward to continuing to work with both of you, 
     along with the House Financial and Economic Literacy Caucus, 
     and all Members of the House and Senate, to achieve the goals 
     reflected in H. Res. 737. Thank you again for your leadership 
     on this critical issue.
           Sincerely,
                                                 Robert F. Duvall,
     President & CEO.
                                  ____



                              Securities Industry Association,

                                   Washington, DC, April 25, 2006.

   Final Results of the 2006 Stock Market Game Capitol Hill Challenge

       Today, The Foundation for Investor Education and The 
     Securities Industry Association join members of Congress and 
     educators in acknowledging Financial Literacy Day. In 
     addition to attending Financial Literacy Day on Capitol Hill 
     2006 held between 1:00 p.m.-5:00 p.m. in 902 Hart Senate 
     Office Building, we will announce the final results of the 
     Stock Market Game: Capitol Hill Challenge. This e-mail will 
     give you a first look at those results.
       The 2006 Stock Market Game-Capitol Hill Challenge began on 
     February 13 and ended on April 21. During the Challenge, 78 
     schools from across the country, and one school in Germany, 
     are investing $100,000 hypothetical dollars into the U.S. 
     markets. SIA is bringing the first place team to Washington, 
     DC to recognize their achievement May 8-9, 2006.
       This e-mail contains rankings of Challenge participants, 
     comprised of young investors across the country learning and 
     having fun at the same time.
       Only teams, which have executed trades, will appear on the 
     Challenge rankings. The total equity of the portfolio for 
     unlisted teams is $100,000.00 plus accrued interest.
       Thank you for your support of Financial Literacy Month in 
     Congress!
           Regards,
                                                        Ed Shovar,
                                            Legislative Assistant.

      Final Results: 2006 Stock Market Game Capitol Hill Challenge

       The 2006 Stock Market Game-Capitol Hill Challenge began on 
     February 13 and ended on April 21. During the Challenge, 78 
     schools from across the country, and one school in Germany, 
     are investing $100,000 hypothetical dollars into the U.S. 
     markets. SIA is bringing the first place team to Washington, 
     DC to recognize their achievement May 8-9, 2006.
       The following high school team(s)* from your district 
     participated in the 2006 Challenge, and we have included the 
     final rankings of the Challenge (as of 04/21/06-close of the 
     market):
       Rank, Team ID, Total Equity, School/Organization, Advisor/
     Participant, Congress Member:
       60, CAP_53_ZZ292, $107,964.79, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       82, CAP_53_ZZ286, $106,264.82, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       180, CAP_53_ZZ289, $101,343.13, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       198, CAP_53_ZZ291, $101,071.98, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       204, CAP_53_ZZ283, $100,838.01, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       206, CAP_53_ZZ288, $100,799.42, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       211, CAP_53_ZZ287, $100,733.17, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       244, CAP_53_ZZ284, $99,742.05, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       248, CAP_53_ZZ290, $99,685.42, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       213, CAP_53_ZZ285, $98,162.86, La Feria High School, 
     Reagan, Suzanne, Rep. Ruben Hinojosa.
       *Note: In some cases high schools may have registered more 
     than one team of 3-5 students, in order to maximize the 
     educational benefit to as many students as possible. Only 
     teams, which have executed trades, will appear on the 
     Challenge rankings. The total equity of the portfolio for 
     unlisted teams is $100,000.00 plus accrued interest.
       The Stock Market Game Program provides teachers with an 
     engaging real-world tool for teaching basic economic skills 
     while instilling their students with an understanding of the 
     importance of sound saving and investing. Students in the 
     Stock Market Game Program apply their reading, writing, and 
     math skills to create and manage a stock portfolio. As 
     students track their team's portfolio, they are able to 
     commit the skills they learn in school to real-world 
     decisions of saving and investing.
       We invite you to visit our websites, The Stock Market Game 
     Program (www.stockmarketgame.org), and the Securities 
     Industry Association (www.sia.com). If you have any questions 
     regarding this or any other matter, please do not hesitate to 
     call us at (202) 216-2000.

                          [From Bankrate.com.]

                10 Tips to Make Your Children Money-Wise

                          (By Briqitte Yuille)

       Personal finance experts suggest that parents should teach 
     their kids about money. They want parents to talk to their 
     kids about earning, spending, investing, saving, borrowing 
     and sharing.
       In fact, the experts advise parents that the earlier they 
     start, the better. Robert Duvall, president and CEO of the 
     National Council on Economic Education, says a majority of 
     practices can begin as early as preschool.
       ``We need to get to young people as early as possible,'' he 
     says. ``We don't wait until a young person gets her or his 
     first job to teach them how to read. Why do we want to wait 
     until they are in the working world to teach them some basics 
     about managing their money? Because often it's too late.''

[[Page E671]]

       The experts have provided 10 ways for you to help your 
     children understand and appreciate the value of a dollar:
       1. Talk with your children while at a grocery store or in 
     the mall. Express your thoughts when you compare prices and 
     quality when shopping for school supplies or holiday and 
     birthday gifts.
       2. Take your kids to the bank. Whether you are taking out 
     money from the ATM or heading inside the bank to cash a 
     check, talk with your kids about what you are doing. Teach 
     them how money can be earned by not taking it out of the bank 
     account.
       3. Talk with your kids about investments. Purchase stock in 
     companies of products that they know. Experts say you can 
     start in elementary school, but it might be more meaningful 
     in middle school.
       ``Too many people have suffered losses--by not 
     diversifying, for example--that could have been avoided with 
     a little information and education,'' says Steve Hines, 
     spokesman for the JumpStart Coalition for Personal Financial 
     Literacy. ``But, stocks generally outperform other forms of 
     investment over longer periods of time, and since kids have 
     time on their side, why not help them learn to make their 
     money grow?''
       4. Create a account, and your kids with a bank. Give your 
     children an allowance and make sure they set aside a certain 
     amount for savings. A piggy bank can help children watch 
     their money grow. Let them keep a financial journal to record 
     their financial activities.
       5. Make them work for their money. Money doesn't grow on 
     trees, so teach your kids to earn their money. They can start 
     by picking up their toys, taking out the garbage and raking 
     the leaves.
       6. Help them to establish savings goals. Goal-setting can 
     help kids aspire to achieve their dreams. So whether the goal 
     is a toy, bicycle or a car, help them to learn that it can be 
     attained by saving and working.
       ``A troubling trend in our society is giving credit cards 
     too early and too easily,'' says Duvall, who suggests giving 
     responsible teenagers a credit card toward the latter part of 
     high school, along with a good heart-to-heart talk about 
     credit.
       ``Know your kids individually, and don't be in a rush to 
     help them spend,'' says Hines. ``Don't get your kids a credit 
     card and hope they'll learn something on their own. You 
     wouldn't get them a car and hope they'll learn to drive it on 
     their own, would you?''
       7. Teach them how to use a credit card. If you decide to 
     give your child a credit card, be sure to monitor its use.
       8. Include kids in discussions on household budgeting and 
     vacation planning. Talk about necessities such as utilities 
     and extras. Teach kids about the financial resources needed 
     for the vacation such as tickets, transportation, lodging and 
     entertainment.
       9. Teach them about donating. Donating can help teach your 
     child about giving.
       Hines believes volunteering is a way to ``offset the 
     consumer-driven environment by teaching kids that there is 
     joy in something other than buying things for themselves.
       ``For some kids, this is a powerful lesson. Instead of just 
     delayed gratification, it's gratification by spending on 
     someone else. With donations, there are also opportunities to 
     discuss how far a dollar can stretch and values.''
       10. Be a good role model. Lead by example. Educate 
     yourself. Learn how to save and develop a sound budget. Read 
     up on investing. A variety of resources are available on the 
     Internet and at credit counseling agencies.

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