Everfi Blog Financial Education for All: The Private Sector’s Contribution to the National Strategy for Financial Inclusion

In today’s rapidly evolving financial landscape, financial education is a critical necessity. Financially educated consumers have higher financial capability, more disposable income, and higher credit scores. The U.S. Department of the Treasury’s National Strategy for Financial Inclusion (NSFI) outlines a comprehensive roadmap to expanding access to financial products and services for all Americans. For the private sector, this strategy presents a clear opportunity to address the financial literacy gap while strengthening their communities and customer base. With the rise of digital education technology, it’s easier than ever for financial institutions and employers to provide high-quality financial education resources optimized for employees, customers, students, and communities.  The Importance of Financial Education Statistics show that financial literacy is alarmingly low among Americans. Only 57% of adults in the U.S. are considered financially literate. This lack of financial knowledge has significant consequences, with the cost of poor financial literacy estimated at $388 billion in 2023. Understanding financial concepts is not just about managing […] The post Financial Education for All: The Private Sector’s Contribution to the National Strategy for Financial Inclusion appeared first on EVERFI.