Global push to boost financial literacy

Elvera Bartels

To Flore-Anne Messy, government secretary of the OECD’s Global Community on Financial Education and learning, there are two means for policymakers to seem at economical literacy. “It’s the glass half-full, or the glass half-vacant argument,” she indicates.

One way requires contemplating the expenditures to societies and economies of a lack of knowing — expenditures that have been highlighted by the pandemic. According to the National Financial Educators Council in the US, for instance, US citizens approximated that a lack of economical awareness expense them an regular of $one,634 in 2020.

But the other way is to consider the gains of knowing how income operates. Messy claims these include things like “better health, less stress . . . On a macro level, there is the financial opportunity from a inhabitants that is monetarily literate, a much better functioning economical current market, a even bigger current market, even bigger pension price savings,

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