Financial Literacy is defined as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. (President’s Advisory Council of Financial Literacy)
Did you know that a 2022 financial literacy test demonstrated that US adults only correctly answered 50% of the questions correctly? And 18% of adults only answered 75% correctly? (TIAA Institute – PFIN paper – Yakobowski, Lusardi and Hasler)
To put this in context – approximately 82% of Americans failed or did very poorly on the test.
Do you want your kids to fall into this group? Or would you like to set them on a better path?
