Home » Why the idea of financial literacy needs a rebranding

Why the idea of financial literacy needs a rebranding

by UNN Feed

According to a Yahoo Finance Poll surveying viewers about their financial planning strategies, over 70% of participants claim they do it on their own with no assistance. The National Financial Educators Council has identified a steep cost of $1,506 per person in 2023 for lacking financial literacy.

401 Financial Principal and Founder Tyrone Ross joins Wealth! to discuss his idea of rebranding “financial literacy” as “financial education,” a more inclusive category.

“When you talk about financial education, now you’re talking, how do we implement it early on? Pre-k, kindergarten, so that it becomes a part of our lives every day, where financial literacy is, oh, I got a job, a 401(k), I have kids, now all of a sudden I have to figure out all of the pieces never given to me early on. I think making it part of an education structure very early, I think could change a lot of the damning trends we’re seeing with financial education and access in the country,” Ross explains, adding that even the term “wealth management” is alienating to many consumers.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

Editor’s note: This article was written by Nicholas Jacobino

Read the full article here

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