Financial Literacy Lacking in Youth Despite Education Efforts

Despite financial education being part of school curricula, young people demonstrate a lack of financial literacy, scoring 57% on a nationwide test during European Money Week, slightly lower than the previous year's 60%. OECD data indicates that a significant portion of young individuals struggle to apply their knowledge in real-life financial situations. Students who discuss financial decisions with their parents tend to be more financially literate. Chris Taylor, a banker at U.S. Bank, has been teaching financial literacy in Ohio schools since 2020, connecting with students from low-income families. His lessons, praised for clarity and engagement, use analogies and personal experiences to explain complex topics. Taylor's program received support from U.S. Bank, allowing him to focus on community financial education.