Government Report: Americans Seriously Lack Financial Know-How

#Lifestyle Wealth


If the federal government get its way, Americans may soon be required to take financial literacy courses in college. The Financial Literacy and Education Commission, chaired by U.S. Treasury Secretary Steven Mnuchin, released a report recommending strengthening the financial training Americans receive, even suggesting “mandatory financial literacy courses.”

The report also suggested providing those needing to improve their financial literacy with actionable financial information. “A body of evidence indicates that financial education alone has had a small impact on financial behaviors, in part because financial knowledge decays within two years of the lesson,” the report noted. “Behaviorally based strategies,” for example providing Social Security benefit estimates to individuals near retirement age, instead of arbitrarily providing that information, tends to be more helpful for individuals. 

For advisors used to educating their clients, the government’s findings may be reaffirming. Advisor-focused vendors, such as TD Ameritrade Institutional, have also been focused on financial literacy as of late. The winner of TDAI’s inaugural fintech competition, for example, was a financial literacy app conceived by a reading teacher. 

The report includes a note reassessing how financial health is measured. Stating that income is often used as a proxy for financial health, the commission presents the idea of looking at net worth to evaluate financial health—by evaluating both assets and liabilities. It concludes with a list of recommendations, including providing consumers with information on how and when to locate information for financial decision-making, helping them to interpret that data and providing them with the skills and confidence to take action. 

PropellerAds

https://www.wealthmanagement.com/client-relations/government-report-americans-seriously-lack-financial-know-how To Find More Information, Go To https://is.gd/saubiodigital And Look Up Any Topic

Please follow and like us: Share This Post
error


Take a look at our comprehensive guide to the best and most popular information ebooks and products available today on Detoxing, Colon Cleansing, Weight Loss and Dating and Romance. They are all in one spot, easy to find and compere to make a quick selection for the product that best fits your needs or wants.

So browse through a category and make your  preferred selection and come back here to read  more choice articles and get a few more helpful tips on ways to help your enhancement.



Detoxing Reviews

Best Body Detoxification Guides & reviews





Colon Cleanse Reviews

Best Colon Cleanse Guides & Reviews





Weight Loss Ebook Reviews

Weight loss products really work! Click here





Dating and Romance Ebook Reviews

Looking for Dating Guides? Click here





Free Traffic System - Increase Targeted Website Traffic with Free Unlimited One Way Links

As an Amazon Associate I earn from qualifying purchases. “saubiosaubiosuccess.com is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon.com. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.”

Leave a Reply

Your email address will not be published. Required fields are marked *


Saubio's Promo Tools

As an Amazon Associate I earn from qualifying purchases. “saubiosaubiosuccess.com is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon.com. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.”