Financial Literacy is a Global Issue
- Published July 20, 2022
The topic of financial literacy is getting a lot of attention; however, the numbers are still eye-openingly low. Still only 1 in 3 adults are financially literate. That means 33% of adults around the world have the right knowledge to make smart financial decisions. The impact of that is more damaging than you may think. People are stressed and the economy is not being contributed to in the best possible manner.
Problem
As of now, there is unequal access to financial literacy learning resources. Some countries are prioritizing financial literacy while others are lagging behind. Financial literacy is a global issue. Everyone needs access to the right learning tools in order to change the statistic above.
Tackling this issue in adulthood can prove to be challenging. Adults don’t like to think they’re incapable of handling money properly. While it’s never too late to learn a skill, the willingness to learn needs to come from within. Adults are not obligated to embark on a learning journey. But… kids still are.
Solution
We believe the younger the learning starts, the better! Kids can grasp basic financial concepts at the age of 3.. so why wait? Whether you are a parent, a teacher or an organization, you can bring change no matter where in the world you live. Financial literacy builds healthy and happy futures and it contributes to a robust economy, globally.
This essential life skill learning can be incorporated into everything kids do. From video games, to classrooms, to daily shopping trips! All we need to do is be aware enough to present the opportunity to learn.
Parents can teach by downloading money learning games for them to play or taking them on grocery runs. Teachers can incorporate money learning activities into the classroom. Businesses can partner with organizations that have financial literacy programs for kids to share meaningful learning experiences with their clientele.
There are tons of ways out there to spread money knowledge and help kids form smart financial habits. Let’s take global financial literacy from 33% to 100%! What can you do to help?
