To understand why financial literacy is important, look no further than the most recent grad class: millennials. With $1.45 trillion in student debt, millennials find themselves in a tough spot to begin with – but 45% regret even taking out loans to that extent in the first place.
At the same time, only 24% of the generation demonstrates “basic” financial knowledge, while 70% are already stressed about saving for retirement. A better financial education could definitely help change some of these figures, whether it is through schools, or through vastly improved online resources that students access on their own volition.
infographic by: wealth.visualcapitalist.com