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Money Monster - Character in CFPB's Financial Literacy Curriculum for Kids CFPB Financial Education Project Launch in Chicago, Illinois, 2014 U.S. Consumer Financial Protection Bureau (CFPB). The CFPB is a US agency that offers a variety of financial education resources and tools aimed at empowering consumers.
Teens today may be savvier than prior generations due to the sheer amount of information at their fingertips via the internet, but that doesn't mean they are up to speed on financial literacy.
Image Source/Getty Images "The teenage years are an influential period in a young person's life, particularly a time period when they can learn valuable skill sets for the future." So says John ...
Understanding financial literacy and having suitable types of insurance can help young adults protect their assets and future earnings, which is an essential step in becoming financially independent.
There is a diversity of definitions used by bodies such as NGOs and think tanks, but in its broadest sense, financial literacy is an understanding of money. [8] Some of the definitions below are closely aligned with "skills and knowledge", whereas others take broader views, and some are from academic research which is tested and validated:
The Young Americans Bank (YAB) is an American bank specifically set up for young people under the age of 22. [1] Although designed to teach children and young people how to manage money, Young Americans Bank is a full for-profit, Federal Deposit Insurance Corporation-insured financial institution. [2]
Previously, in 2001, a financial education curriculum called Money Smart was launched by the FDIC to help the financially unsavvy. [9] Economist Lisa Servon comments that lack of financial education as a reason for using services other than banks is often an inaccurate stereotype. [1]
The FDIC is an independent agency of the U.S. government that insures savings accounts, certificates of deposit, money market deposit accounts and other deposit accounts for up to $250,000 as a ...