Importance of Financial Literacy

According to The Federal Reserve Bank of New York City,

1. The financial well-being of individuals is linked closely to the nation's economic progress.


2. Financial literacy among individuals results in more stable communities and a stronger, safer banking system for all.


3. Improved financial literacy, particularly early in life, results in a higher standard of living over the long term, even for retirement.


4. Gaining financial literacy is a long-term process that, for most people, requires the assistance of institutions outside the home.