⅔ Adults Worldwide are Financially Illiterate
What is Financial Literacy?
To be financially literate, an individual does need to be fluent in personal finance, but also in global economics, entrepreneurship, and investing -- all on a platform of real-time technology.
Financial literate individuals save, invest, spend, plan, and donate. They develop a better well-being and become more resilient to financial challenges. It's critical that we promote Financial Education in our youth.
THE IMPORTANCE OF FINANCIAL Literacy
We understand that being smart with money is one of the most critical skills we can impart to our children. With ⅔ Americans considered financially illiterate (TIAA-CREF Institute, 2015) and with nearly 20 percent of Americans living beyond their means, education about personal finance is critical. Research indicates that teaching finance to students yields greater money-management skills that carry well into adulthood. Students who receive personal financial education are able to manage their money better because they...
- Have fewer maxed out credit cards
- Have higher savings
- Do more comparison shopping
- And pay debts on time
Students exposed to financial education achieve significantly higher savings and net worth as they age.