Pandemic Exposed Americans’ Financial Vulnerability

A recent survey found American rate money management as the most important skill for children to learn, over the dangers of drugs and alcohol, healthy eating and exercise habits, and safe driving practices. The Charles Schwab Financial Literacy Survey conducted by The Harris Poll in early June 2020 found the vast majority (89%) of Americans agree that lack of financial education contributes to significant social issues including poverty (58%), unemployment (53%), and wealth inequality (52%). Despite recognizing its important—63% chose financial education as the most important supplementary graduation requirement to math, English, and science—half of all Americans would experience financial hardship if they had to cover an emergency expense of $1,000 or less in the next 30 days.

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