CLEARWATER, Fla., March 12, 2021 /PRNewswire/ -- Creating a society in which the average person is not under financial stress begins with financial literacy and an understanding of how one can build wealth. While the year 2020 brought more financial stress for some than others, among the issues highlighted by the COVID-19 pandemic is a declining financial literacy in the general population of the United States.
Here are 3 financial literacy statistics that need to change:
- According to a study done by the Council for Economic Education, only 17% of students were required to take at least one semester of personal finance in high school.
- Only 24% of Millennials demonstrate basic financial literacy, according to a report by the National Endowment for Financial Education.
- The average amount of money lost by the average American adult due to lack of financial literacy was $1,634. Generalized to the over $250M Americans, that loss totals $415 billion in 2020. According to a National Financial Educators Council.
Dream Exchange has made its mission to create more prosperity for all in the United States by forming a new stock market to increase diversity and democratize finance. Part of the Dream Exchange's plan is to educate people on how they can use the stock market to their advantage.
Find out how on Tuesday March 23rd at 2PM EST, where Dream Exchange Founder and CEO, Joe Cecala will simplify stock markets, discussing how they work and how they can help you as a business owner or as an investor.
Mr. Cecala said, "We view this as a real mission to change our society. In the last 120 years we've changed the way we live on this earth in such a profound way that it's almost difficult to imagine that there are people who aren't thriving and there are people who are barely surviving. We at Dream Exchange are concentrating on developing markets in which the best ideas are formed and we want to get them access to the money they need to expand."
SOURCE Dream Exchange