Financial literacy involves knowing the core building blocks of personal finance on which we can increase our knowledge. But, is financial illieracy a problem? Can we be faithful in our stewardship of God’s money without understanding money & how it works? In this episode, we describe what financial illiteracy may look like and whether we should be concerned about it.

Episode Resources

• “Bountiful 101: Introduction to Cryptocurrency” (Bountiful S9E15) – The Light Network
• “How To Build a Budget” (Bountiful S15E3) – The Light Network
• “Bountiful 101: Introduction to Investing” (Bountiful S10E2) – The Light Network
• “Signs of Good Financial Health” (Bountiful S1E12) – The Light Network
• “Making an Effort” (Bountiful S12E3) – The Light Network
• Financial Illiteracy Statistics: Recent Data, Causes & Solutions | NFEC (financialeducatorscouncil.org)
• According to the National Financial Educator’s Council, financial illiteracy is, “Lacking the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals.”
• What Is Financial Literacy? (thebalancemoney.com)
• The Balance indirectly defines financial illiteracy as “the inability to weigh the pros and cons of a money decision and confidently choose what to do.”
• BLOG: How to sacrifice short-term rewards for long-term benefits? (rsm.nl)
• Financial Literacy: Keep Your Money Tight and Right | Money Under 30
• The 5 Financial Illiteracy Mistakes to Avoid (thefinanceshub.com)
• https://money.usnews.com/money/personal-finance/family-finance/articles/worthwhile-online-personal-finance-courses