"If you’ve spent any time reading up on education or financial news lately, you’ve probably come across the term financial literacy. The goal behind teaching financial literacy is to help people develop a stronger understanding of basic financial concepts—that way, they can handle their money better.
That’s a worthy goal, especially when you consider a few stats about how the typical American handles money:
In fact, it mattered so much to lawmakers, in 2004 the Senate passed a resolution officially recognizing April as Financial Literacy Month to “raise public awareness about the importance of financial education in the United States and the serious consequences that may be associated with a lack of understanding about personal finances.”
As more people become aware of the importance of financial literacy, we should be asking: What skills, traits and best practices do people show who are “financially literate?” and How does this skill set really affect personal finance?"
https://www.daveramsey.com/blog/what-is-financial-literacy
That’s a worthy goal, especially when you consider a few stats about how the typical American handles money:
- Nearly four out of every five U.S. workers live paycheck to paycheck.
- Over a quarter never save any money from month to month.
- Almost 75% are in some form of debt, and most assume they always will be.
In fact, it mattered so much to lawmakers, in 2004 the Senate passed a resolution officially recognizing April as Financial Literacy Month to “raise public awareness about the importance of financial education in the United States and the serious consequences that may be associated with a lack of understanding about personal finances.”
As more people become aware of the importance of financial literacy, we should be asking: What skills, traits and best practices do people show who are “financially literate?” and How does this skill set really affect personal finance?"
https://www.daveramsey.com/blog/what-is-financial-literacy