Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

U.S. National Strategy for Financial Literacy 2020

U.S. National Strategy for Financial Literacy 2020 – U.S. Financial Literacy and Education Commission, September 2020 – “Financial education is key to unlocking the foundations of economic opportunity and powering a strong and resilient economy. Americans must acquire financial skills and knowledge to fully participate in our dynamic economy. In a 2018 study, only one-third of adults could answer at least four of five financial literacy questions on fundamental concepts such as mortgages, interest rates, inflation and risk. Similarly, a 2018 assessment of 15-year-old students found that 16 percent were below a proficient level of financial literacy, 22 percent demonstrated a basic level of financial literacy, while 12 percent successfully demonstrated the highest level of financial skills assessed. Additional performance gaps persist in financial literacy between minority populations and the U.S. population as a whole…To address these disparities in financial literacy, both the private and public sectors offer additional support for minority populations to develop knowledge, skills, and confidence to make more informed financial decisions. These offerings help people attain their goals and financial well-being in what is an increasingly complex environment that contains competing sources of information and influence…”

Sorry, comments are closed for this post.