What should we do, to increase financial literacy? Published by Jane the Actuary View all posts by Jane the Actuary
9 thoughts on “Forbes post, “What Is ‘Financial Literacy’ And Why Does It Matter?””
Perhaps I am another statistic for Americans lacking financial literacy, but how is the purchasing power of my savings the same in a year if I make 1% annual interest on that account while inflation is 2% per year (Question 2 of the quiz)? Assuming I started with $100, the interest should leave me with $101 while the inflation rate would require me to have $102 for equivalent purchasing power. So, that should mean I lost purchasing power on the funds in that account.
Yes, you’re exactly right! — turns out, I myself wasn’t paying enough attention as I typed. I’ve corrected the article.
I really like that you discuss the issues of lifestyle and discipline, as well as knowledge. The education is the first step but there needs to be serious effort to achieve financial well being results!
Our foundation has developed a series of video animations to help people get started.
Many talk above individuals and it intimidates people and promotes more money insecurities.
We believe in simplicity.
Please keep working on getting good messages out there.
President, ASFIP Foundation