Why?
In a world where you can learn anything, why should you learn economics and finance? Many people think this is all about statistics and graphs. However, did you know that economics and finance are part of our daily lives and play an essential role, from the grocery store to the stock market? Understanding economics and finances allows you to make better decisions ,manage your finances well, and understand the world around you... creating a better future for you!
Did you Know? Only 24% of Americans can answer four or more basic financial literacy questions correctly. (FINRA Investor Education Foundation, 2020) and only 57% of American adults are financially literate. (Marketwatch)
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As you can see, not many people in America are financially literate. Many struggle to answer basic questions and do not consider themselves "literate" in financial topics. Poor financial literacy skills can cause different issues, including having a hard time budgeting, being in debt, and losing money!
What Happened? 59% of Baby Boomers (1946-1964) scored a 51-100% on a financial literacy test while only 36% of Generation Z (1997-2012) scored the same. (Annuity.org)
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This shows that there are less people in the YOUNGER generation that are financial literate than those who are OLDER. The fact that people in today's digital world (where people have many more resources and get easy access to information online) are less financial literate than the older generation, which had less resources, this shows something is wrong and the problem needs to be solved. Poor financial literacy, especially for youth, leads to consequences when they get older, including poor financial literacy skills and poor money management.
The Financial Cost Lack of financial literacy cost 15% of adults at least $10,000 in 2022. (National Financial Educators Council)
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This shows that people are losing money due to their lack of financial literacy. This is because when there is a lack of financial literacy, as they do not know how to manage their money well. Our program can help with this. Our financial literacy course covers budgeting, credit & debt, and saving, which is essential to financial management. This will help you save a lot of money as you get older ,reduce chances of losing money, and lets you to take charge of your finances!