The financial literacy knowledge and well-being of black Americans “lags behind that of the U.S. population as a whole,” according to the TIAA Institute.
With only 21 states requiring that personal finance be taught, it’s no wonder that financial literacy among Americans is modest at best country-wide. Yet the gap broadens significantly when race comes into the picture.
Strong financial knowledge leads to better money decisions in the long run. Are African Americans struggling with money because of the lack of financial education available to them? Check out our video for more.