Why is Financial Literacy Important?
Financial literacy is important for us to understand because it gives us the knowledge to be able to manage our money and set a foundation for our future. If one does not know about financial literacy, this will cause one to have financial problems in the future, for which they did not prepare, which can be detrimental towards their success. It is also important to understand what financial literacy is in the earlier stages of your life in order to be prepared for foreseeable financial struggles one may encounter; they will not have to worry about figuring it all out while they are a state of trouble, rather learning it before they start making their own money. As of February 2020, 21 states require high school students to take a personal finance course in order to graduate. Although this statistic may seem high, it is less than half of the 50 states when money is something that will be a critical matter in every teenager's life.