BankFive: Half of U.S. adults are falling short on financial literacy skills. What can be done about it.
A proactive approach to managing money is a key to success in everyone’s life. Saving for a car, home or child’s college tuition, managing debt, preparing for retirement, or just making ends meet every week all tie back to the decisions we make with our money.
Here’s the problem. Informed financial decision-making, otherwise known as financial literacy, is a skill 52% of U.S. adults lack. This rate has stayed relatively steady over the past eight years, which raises a red flag.
Financial-literacy rates among women have consistently lagged compared to men. Women, on average, live longer than men, need to take a disproportionate amount of unpaid time off work for caregiving responsibilities, and experience fewer career growth opportunities, according to the World Economic Forum. At the same time, women accumulate less wealth because of the gender wage gap, leaving them with less financial security in retirement.
Read the full commentary via the Boston Business Journal >> https://www.bizjournals.com/boston/news/2026/02/05/half-of-us-adults-are-falling-short-on-financial.html