Sunday, July 9, 2017

Teen Financial Literacy Not Improving

There is a guest column in the Wall Street Journal today speculating as to the reasons why teen financial literacy is not improving.

While the reasons behind the lack of progress are interesting, the solution is too.

Key point:
The most scalable solution to this problem would be to teach financial literacy in school. We need students to be financially literate before they make financial decisions, such as whether to go to college and how much to borrow to finance that education. We also must open access to financial education to a broader group of young people. If we fail to do this, not only will our youth start on an unequal footing, but their inequality gap will continue to grow.