Knowledge and Insights
Financial literacy, defined as the ability to use knowledge and skills to manage financial resources effectively for a lifetime of well-being, is a long-standing issue that was publicly recognized in 1995 by the Jump$tart Coalition for Financial Education. Many solutions have been proposed throughout the last two decades to improve the health and well-being of the US population with relatively little success or progress.
Financial literacy and capability are priorities that have been established by the White House through the President’s Advisory Council on Financial Literacy and Capability to encourage better understanding in these areas. These advisory councils have developed resources to be used by government agencies, employers, and other groups to encourage furthering education in the area of personal finance throughout the US.