Definition Rewrite-zipemup1

What is Financial Literacy

Schools are failing our students by neglecting to include an essential life skill like financial literacy in the normal curriculum. Financial education in simple form can defined as the confident grasp of topics such as saving, investing, and debt that translates to a sense of overall financial well-being and self-trust. It seems like a disservice to our children to avoid teaching such a vital life skill.

Financial literacy is crucial to our society because it provides us with the information and skills we need to successfully manage our money. Without it, our financial choices and actions, whether taken or not, lack a firm foundation for success. It was found that nearly 70% of millennials are living paycheck to paycheck, which is more than any other generation. For many Americans, living paycheck to paycheck is an uncomfortable financial reality. Many Americans are dealing with this problem for a variety of reasons, the first of which is that they do not manage their spending. They continue to spend money without knowing where it is going. This may be highly damaging to their finances since expenditures accumulate and by the time they realize it, it is too late and they are in debt. Another issue is that many Americans do not make a budget. Budgeting how much you spend in relation to how much you earn will be very useful in the long term. Finally, and maybe most importantly, address your debt. It was revealed that 77 percent of all households had some form of debt. The more your debt, the more likely you are to live paycheck to paycheck. The easiest way to approach it is to start small and work your way up. Overall, the major reason people live paycheck to paycheck is a lack of financial education. If this could be included into our curriculum, many more folks would be able to escape such significant, long-term, and chronic poverty.

A prime and more recent example of Americas financial issues came during the pandemic. When millions of citizens in the United States and throughout the world went into lockdown, it was unavoidable that the economy would suffer. As important as these efforts were in bringing the coronavirus pandemic under control, there was a downside: large swathes of the economy came to a standstill. Because this epidemic is worldwide, the ramifications have also been felt globally. The epidemic revealed the country’s lack of financial education. Covid was an unlucky but necessary lesson for the county. It taught the country the value of having emergency savings. Many financial gurus recommend that each household keep at least three to six months of cash on hand in case of an emergency. Many people are only one automobile accident or one medical emergency away from going into debt. The only reason some Americans were able to keep afloat was because of government help in the form of stimulas payments. Many people would have gone bankrupt if they hadn’t received such help.

The absence of personal financial education in our country has been disastrous. As a society, we’ve watched millions of Americans struggle with their money on a daily basis due to a general lack of financial preparation, only to end up deep in debt. Every day, millions of Americans struggle with their finances. Many Americans are discovering that they are unable to buy houses, save for retirement, or save for their children’s college funds due to student loan debt, huge vehicle payments, and a lack of financial preparation. People are deeply in debt and hopeless. Many of the financial issues that Americans are today might have been averted if financial literacy had been taught in schools. As a result, we believe that more schools should include financial literacy classes as part of their graduation requirements.

Although the benefits of financial education to American people are evident, it is still not being taught in our schools. It has gotten to the point where it appears like the American system was designed to keep us ignorant of the necessity of financial literacy. Our parents are the only ones who have the financial expertise that we require in our daily lives. Parents who are already facing their own financial hardships. It’s like a never-ending loop of financial illiteracy that continues to infect the next generation. Financial education is necessary in our daily lives, and some would argue that it is crucial to our existence. Students are instead preoccupied with the Pythagorean theorem, which I am sure is more important in our daily lives. Millions of Americans continue to struggle financially, yet the issue is being ignored. Financial literacy has other advantages, such as helping a person to be more flexible, decrease stress, and enhance relationships. Personal finance is as much about psychology as it is about statistics. A solid knowledge of financial literacy will enable you to make better financial decisions, which will ideally enhance your day-to-day life. Living over our means may lead to bankruptcy, divorce, and a great deal of worry. Furthermore, the burden of student loan debt might keep first-time homeowners out of the market, dragging the economy down. Meanwhile, living with low debt and a savings cushion might provide you the comfort and peace of mind that comes with being financially free. As a result, financial literacy is more than simply learning how to manage money in order to purchase more things; it is also about learning how to manage money in order to enhance many various parts of one’s life. As you can see, financial literacy is essential for people of all ages. And starting to teach these principles to youngsters can help them form long-term behaviors.

Overall, we can see how financial education may help each individual student with no question. By bringing this issue into the classroom, we can not only assist the economy, but also each individual student. Long term, the financial knowledge offered to children will benefit them in the future and keep them from making costly mistakes. It will also assist future generations of children, who will learn from their financially educated parents.


Fernando, Jason. “What Is Financial Literacy?” Investopedia, Investopedia, 7 Dec. 2021,

Hoffower, Hillary. “60% Of Millennials Earning over $100,000 Say They’re Living Paycheck to Paycheck.” Business Insider, Business Insider, 16 Sept. 2021,

“How to Manage Your Money & Be Financially Successful.”,

JeffCoxCNBCcom. “Household Debt Jumps by the Most in 14 Years to Nearly $15 Trillion in the Second Quarter.” CNBC, CNBC, 3 Aug. 2021,

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4 Responses to Definition Rewrite-zipemup1

  1. davidbdale says:

    Zipemup, do you want detailed comments on small aspects of your writing, or do you first want a very general impression of the overall argument?


  2. zipemup1 says:

    A detailed comment on small aspects of my writing.


  3. davidbdale says:

    Paragraph 1 is strong and clear but not as vivid as it could be.
    —”an essential life skill LIKE financial literacy” is odd. It makes us think you’re going to advocate for something OTHER THAN financial literacy.
    —”in simple form” is odd, too. It means you’re defining “basic or simplified” financial education, when I think what you mean is, “Put simply, financial education is . . . .”
    —by ending with “a sense of overall financial well-being” you’re focusing on how the kids will FEEL rather than what they’ll be able to DO. Do you want a feel-good course or a “vital life skill”?
    —And finally, language like “it seems” dilutes your persuasiveness. It’s not criminal, but it’s negligent to doom our kids to fraud, crippling debt, financial instability, bankruptcy, shorter lives . . . the results of misunderstanding basic financial transactions.

    Do you want more like that?
    Get engaged in this conversation, please.
    Give your post a title.
    Let’s see the References.
    I’d be happy to do details once you’re involved.


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