Financial Literacy in the Western world is falling and that is a big problem!

I don’t think that anyone is talking about how dire our current financial literacy rates are and the downward trend in both literacy and education in finance.

According to Gemini which helped me summarize my points the evidence indicates that financial literacy is falling, with declining test scores, low confidence in money management, and rising debt levels. Data shows a 14% drop in correct responses to financial literacy questions between 2009 and 2021, and only 48% of US adults could correctly answer half of personal finance questions according to Google Gemini with data from FINRA.

This is a major issue that needs to be addressed because I believe that we are already seeing the ramifications of this trend and we are not improving!