Americans struggle to manage their finances. Only 57% of adults in the United States are financially literate, according to the Milken Institute. While most parents say they are responsible for teaching their kids about finances, 31% say they never talk to their kids about it, according to a CNBC + Acorns and Momentive poll. Financial education advocates believe that too many students do not receive personal financial education in school, especially those in low-income neighborhoods. Only 12 states require high school students to take personal finance as a stand-alone course to graduate, according to Next Gen Personal Finance. Studies show that financial education has a significant impact: it improves savings rates, reduces debt levels, and increases asset accumulation rates. Research shows that financial literacy helps Americans make better decisions with their hard-earned money. That’s why advocates are fighting for more personal finance education in schools and at home.
Fri, Apr 8 20224:10 p.m. EDT