Why Personal Financial Literacy Matters Now More Than Ever

Our country, and the world at large, is encountering unprecedented times. A pandemic is sweeping across the globe. Life, as we are accustomed to, has come to a standstill. Economic markets, large and small, are screeching to a halt. All but the most essential work and almost our entire education system has moved to a virtual or distance space. Throughout history humans become defined by the habits formed through the tough times. When faced with the pressure of the arena of the moment we either lean into growth or negativity. We each choose our path in these instances. 

As those leading the efforts to simultaneously improve money habits on both a personal and national level, we understand the importance of financial literacy. When the various quarantine orders are lifted and we emerge from our homes we will face new realities. Culture, the marketplace, and normal will be something different. The pandemic this novel coronavirus has wrought will bring something to the world which is, well, novel. As we learn to navigate the coming future we know the sound financial principles of having a plan to earn, spend, save, invest, and protect money will not change. How we employ these skills may look different, the truth of them will remain consistent.

We, as the financial literacy education community, are in the midst of a critical moment. Many if not the majority, of students we touch will encounter a new financial reality both during this time and on the other side of it. Yet, it is not just them alone, their families will be starting from a different place. We have an opportunity to use this circumstance to deliver these sound and timeless financial principles to our students and their families. The future demands this of us.