The US Department of the Treasury recently issued the new National Strategy for Financial literacy. This is much needed, in particular in a time of crisis and a good part of the report is devoted to how to help people in these difficult times and the critical role of financial education.
Since the start of the crisis, one thing has been notably absent: the voices of those who say financial education is futile and a waste of time. The long lines at food banks stand as a painful reminder of how little financial resilience many American families had and how daunting it is to manage our finances during a pandemic. It is during a storm that sailing lessons show their worth, and it is becoming painfully obvious that knowing a thing or two about financial literacy is essential—not simply to navigate our finances but to survive