It’s hard to understate the value of financial literacy two decades after Congress passed a 2004 law to recognize its importance every April.¹

Americans have experienced many highs in their financial lives since then — including a couple real estate booms and the longest bull market that U.S. stocks have ever seen. There’s also been a financial crisis, a pandemic, and the return of high inflation.²

It’s also hard to downplay the importance of financial literacy in the digital age. The use of personal checks has fallen 75% in the past 20 years while debit card usage surged tenfold. Students learning about financial literacy these days are likely to skip both products in favor of digital wallets such as Apple Pay, Venmo and Zelle.³

April is Financial Literacy Month and The Currency^TM will focus on these trends readers need to know:

K thru12: The knowledge pool expands 

The ease of managing money in the digital world doesn't mean that students can skip learning fundamental financial skills — from establishing retirement and emergency savings accounts to managing a household budget. The Currency will delve into some of these essentials for establishing a solid foundation to build financial freedom. 

As more Millennials become parents, they’re intent on raising their kids with one thing: financial security.  Empower research reveals that “money talks” are less taboo these days among Millennials, but parents might be unsure about the ideal age to start the conversation, or which lessons to convey.

The Currency will examine these questions and the role that social media is playing in teaching young children about money. A growing number of teens are getting proactive about money management as more states have financial literacy requirements for high school students.^4,5

But knowledge gaps have led many curious students to seek extra support outside the classroom. The Currency will explore the expanding financial education movement, highlighting programs across the U.S. that help young people build financial confidence.

Digital mindset 

The future of financial education is changing quickly with digital tools and apps.

Gamification is one method that is increasingly being used to foster financial literacy in the digital age. Behavioral economics is another, especially in the age of contactless payments.⁶ The Currency will also explore how financial education must keep up with the rise of social media influencers endorsing products from credit cards to crypto.⁷

Understanding money goes beyond knowing market fundamentals. It taps directly into human psychology. The Currency will examine how emotional triggers can impact financial decisions due to the fear of missing out (FOMO) or because of decision-making blind spots such as overconfidence.^8,9 Stress can also impact spending and drive financial behavior. Emotions don’t need to be erased from financial decisions, they just need the right seat at the table.¹⁰