By, Elise Polentes, One Hen intern
American teens lag behind other nations’ youth when it comes to financial literacy. Financial literacy is the knowledge and understanding of personal finance.
Financial education teaches children how to grow into fiscally responsible, independent adults. Students who are not taught how to responsibly budget, save, invest, or use credit and insurance are at a disadvantage when they enter the work force—they do not know how to manage the money they make. Teaching youth about managing money will help achieve financial inclusion, which has been shown to counteract income inequality on a global scale.