Op-ed: Why financial literacy matters in an economic crisis

Reflecting on the pandemic, questions arise as to what role financial education plays in preparing people to face economic challenges, how it increases confidence to manage money during a crisis, and how it can lead to recovery as quickly as possible.

Financial education has many proven benefits, but it alone is not enough to foresee economic challenges nor remedy a crisis. Alternately, leveraging the coronavirus outbreak to demonstrate the ineffectiveness of financial education and blaming the individual for not having emergency savings or financial resources to get through this is irresponsible.

Everyday people should not be made the scapegoat when we are living in an ecosystem that is systematically selective. And certainly, Financial Literacy Month 2020 is not the time to advertise a promotional ideology. Information is helpful as many may need to make quick decisions, but alone will do little to slow a free fall or propel finances toward normalcy.

Today we're already witnessing many quality organizations and practitioners — financial literacy programs, researchers, associations, financial counselors and planners — working with families to provide pro bono assistance. We've also seen financial educators and advocates developing strategies to lend a calm, guiding hand to those who will need help in the months and years to come.

These are examples of what we most need at this time — leadership and action. As a community of helpers, builders and influencers, we do not have the luxury to be paralyzed by the anxiety that we don't know the next best steps. We must have the vulnerability to carry on with an honest spirit that we might not know what we can do, but we are willing to continue trying.

acorns Please remember… this...

acorns Teachers are the worst. They think pension money comes from a golden goose. Calif. has $500 billion unfunded pension liabilities.

acorns Especially for politicians...

acorns Make money while in quarantine!!

acorns Shouldn’t finical literacy always matter?

acorns The best education we can ever receive is from the University of Adversity. It's the only institute of learning that rewards us when we fail. -Jason Versey

acorns THIS ECONOMIC CRISIS WAS CREATED BY DEMS AND THEIR ALLIEDS THE CHINESE GOV., TO DEFEAT TRUMP! AND THE CNBC ARE THEIR ACCOMPLICES!

acorns Don't eat your Trump check. Use it to buy food

acorns

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