Financial literacy is an issue that should command our attention because many Americans are not adequately organizing finances for their education, healthcare and retirement.
Sentiment: NEGATIVE
Financial literacy is just as important in life as the other basics.
At base, financial literacy is inextricably connected to control over one's future.
I don't think there are any students who should not be exposed to a basic financial literacy course.
Millions of Americans and people around the world, especially young people who face intense financial challenges today, haven't been taught how to take control of their financial future.
Because financially capable consumers ultimately contribute to a stable economic and financial system as well as improve their own financial situations, it's clear that the Federal Reserve has a significant stake in financial education.
I'd say the main way people get into terrible financial trouble is just to spend too much money relative to their income, and that is an endemic problem in the United States of America, and that's the kind of thing that should be taught about in schools.
The American people need to know that money is being used effectively because frankly, the nation can't afford careless spending, no matter how well-intentioned.
Until we have comprehensive financial education, we'll never see the end of our booms and busts.
Studies indicate that most of young adults struggle to grasp even the most basic financial principles that will allow them to manage money and prepare for their future.
It is incumbent upon each of us to improve spending and savings practices to ensure our own individual financial security and preserve the collective economic well-being of our great society.
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