Bridge to Tomorrow: Financial Literacy
Submitted by: Viyuswa Mathebula - South Africa
In a world where the internet has made information available at our fingertips, consumers are becoming more knowledgeable, empowered and information savvy. One would assume that this extends to financial literacy (Fin Lit). However, financial literacy (Fin Lit) remains a problem. For example, a 2014 S&P study found that a third of adults around the world can be considered financially literate. Low levels of Fin Lit are concerning because they can lead people to become over-indebted, lose money, become susceptible to financial scams, and adversely affect their long-term goals and overall quality of life.