because too many working adults live paycheck to paycheck
Lack of Financial Literacy Education
Financial illiteracy can be a cause for financial burdens related to high debt, lack of preparedness for an unexpected financial emergency, and poor spending decisions. Most lacks financial literacy which causes great concern as 75% of the population are living paycheck to paycheck, with the majority of that income going to debt.
Increasing Financial Literacy Rates
Financial literacy is the knowledge an individual has to make an informed decision on their personal money management, such as budgets, debts, savings, and investments. Having these financial skills can help households reduce financial strains and obtain economic stability while teaching their children a path to financial peace upon entering adult life.