In today’s world, we face higher debt levels than ever before. That is especially true for our younger generations. The irony is that most young people don’t receive formal (or even informal) education surrounding financial literacy. Those who come from low-income families are more likely to be financially illiterate as they typically don’t have access to financial information and tools such as how to start a savings account. Low-income families in African American communities are more likely to be “unbanked,” facing often insurmountable challenges in accessing banking services. It’s up to us as community leaders to make changes that ensure all of our younger generations, especially those of color, have equal access to financial resources in order to become more financially literate as an adult. While each April is National Financial Literacy Month which presents a great opportunity to invest in our youth by sharing financial literacy resources, we can also start those conversations any time of the year.
Why Financial Literacy Should Start With Our Youth
Financial Illiteracy Can Encourage Irresponsibility
Understanding Financial Planning Prepares Youth for Emergencies
Being Money Savvy Empowers Our Youth
Youth Financial Literacy Organizations
Financial literacy is critical but often overlooked. Providing young people with the tools & resources to understand their finances sets them up for future success and economic mobility. Learn how @GoalsetterCo prepares future generations to participate in the digital economy.— Robert F. Smith (@RFS_Vista) May 16, 2022