In the Statehouse December 30, 2007
12/30/2007
In the Statehouse
December 30, 2007
By State Representative Dawn Pettengill
All good ideas take awhile to get momentum at the Capitol.
Before I became a legislator, I was a trainer for the largest pension company in our state. I taught 18 different subjects to the newly hired and the old hats. Everything from oral and written communications, government reporting and compliance, and pension investments to pension law – yes, I am a geek and think pension law is exciting stuff.
Not only did that job give me a good background to be able to read and understand the long-term impact of legislation, but also it gave me an insight into a very important area of living that is not taught in our schools. It quickly became apparent that we are letting our young people down. We had to learn through the school of hard knocks, the very hard way. But why are young people graduating from high school and even after spending $60,000 for a university education, coming into the world of work not knowing the consequences of credit and spending more than they make, the importance of savings, the difference between a stock and a bond, what a 401k or IRA is. Even more basic than that, what is a W-2, FICA and how to handle a checkbook.
I promised myself to try to right that wrong to people if I was lucky enough to become a representative. Well, I was lucky and have been trying to get financial literacy as a requirement for graduation ever since. You may think this is hardly a priority Dawn, quit working on it. Along with public protection, making sure all families have the opportunity to flourish if they want to is what every lawmaker should have in mind. Not arming people with the skills they need to be successful is neglecting our responsibility.
After three years of talking - on the radio, television, to bankers, credit unions, teachers, school boards, financial planners, Iowa Department of Education, the state of Wisconsin who initiated a study on financial literacy, the states of Utah and Missouri who require financial literacy, the Jump$tart Coalition, my colleagues in the legislature, introducing the bill 3 times and filing 4 amendments to different education bills, people are starting to talk about it and it’s getting momentum! The Governor now has said it will be one of his priorities. All I can say to that is, “GREAT IDEA GOVERNOR!” Let’s make it happen and give our citizens what they need to be the best they can be! I’m feeling good….
If you have a concern you want to share or an idea for improvement, give me a call on my cell phone at 319-610-3412 or send me an email at dawn.pettengill@legis.state.ia.us. I look forward to hearing from you.
Best wishes for a happy, healthy and prosperous new year!
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