For better or worse, money touches all areas of life. Financial literacy can help.
Why is financial literacy important?
Financial literacy is important because it equips us with the knowledge and skills we need to manage money effectively. Without it, our financial decisions and the actions we take—or don’t take—lack a solid foundation for success. And this can have dire consequences:
-Nearly half of Americans don’t expect to have enough money to retire comfortably.
-Credit card debt has reached its highest point ever.
-Forty percent of Americans can’t afford a $400 emergency expense.
Given the above statistics, it might not be surprising that nearly two-thirds of Americans can’t pass a basic test of financial literacy.