Financial literacy impacts every aspect of our lives, from managing personal budgets to making informed decisions about loans, investments, and retirement. Unfortunately, a significant portion of the population lacks basic financial knowledge and capability, which leads to poor financial decision making and long-term economic instability. By providing innovative financial education solutions that improve access to financial literacy for all, organizations can build trust and drive positive ROI while making a difference.
Financial Illiteracy: A Barrier to Success
Financial illiteracy is a pervasive problem affecting millions of individuals and families worldwide. Lack of financial literacy cost 254 million Americans $436 billion last year alone. A FINRA National Financial Capability Study found that only 20% of U.S. adults demonstrate a high level of ability to apply financial knowledge to make financial decisions, and only 41% have tried to figure out their financial needs for retirement. Additionally, there are significant gaps in understanding fundamental financial concepts: just 26% of Americans understand bond pricing, 30% understand compound interest, 45% understand risk, and 55% understand inflation. 
These statistics highlight the critical need for better financial education. Communities with low financial literacy often experience higher levels of economic inequality, with marginalized groups – including low-income families and communities of color – disproportionately impacted. The ripple effect of poor financial decision-making affects not just individuals but entire communities, contributing to generational cycles of poverty and financial instability.
EVERFI: Bridging the Financial Literacy Gap
EVERFI’s adult and K-12 financial literacy courses, including financial institution-sponsored Achieve™ and Achieve Foundations, are designed to tackle the financial literacy crisis by providing them with the tools and knowledge they need to make informed decisions. These resources are not just educational; they are transformative, offering real-world skills that empower participants to take control of their financial futures.
EVERFI Course Content and Delivery Methods:
- Interactive Learning: The courses use interactive, scenario-based learning methods that engage participants and make complex financial concepts accessible. This approach helps individuals learn by doing, applying knowledge to real-world situations.
- Tailored Content: Courses cover a wide range of topics, including budgeting, credit management, investing, home ownership, and retirement planning. Each course is tailored to meet the needs of different age groups and demographics, ensuring that the information is relevant and applicable.
- Success Stories: Users consistently report improved financial confidence and capability. One user shared, “I always felt overwhelmed when it came to managing my finances, but after taking the course, I finally felt in control. I have a plan now, and I’m sticking to it.”
EVERFI’s resources are delivered through a seamless, tech-enabled platform that makes financial education accessible to anyone, anywhere. Whether it’s in schools, workplaces, or community organizations, bringing critical financial education to the forefront helps create measurable impacts on financial literacy and economic well-being.
Investing in Financial Education as a Trusted Institution
With over 3.5 billion views, ‘FinTok’ influencers are largely sharing bad financial advice, including get rich quick schemes. Businesses are now seen as the sole institution that is both competent and ethical, and a trusted provider of financial education and guidance. Investing in financial education is more than a community service – it’s a strategic business decision that builds trust and strengthens brand reputation. Companies that prioritize financial education establish themselves as trusted, credible institutions that care about the well-being of their stakeholders.
These programs not only provide immediate value to participants but also create long-term benefits for the organizations involved. Brands that are seen as leaders in financial education enjoy enhanced public perception and customer loyalty, translating into increased customer retention and growth.
Enhancing Reputation and Driving ROI
Investing in financial education can significantly boost an organization’s reputation and return on investment. When companies champion financial literacy programs, they position themselves as leaders in corporate social responsibility, driving stronger brand awareness and trust. According to a Nielsen Global Survey, 55% of consumers are willing to pay more for products and services from companies that demonstrate a commitment to positive social impact, including education. Additionally, these programs can directly impact the bottom line by:
- Reducing Financial Stress: Better financial education leads to students and employees who are less stressed and more productive, which positively impacts workplace culture, mental health, and the economy.
- Driving Customer Engagement: Financial literacy initiatives increase brand engagement, with customers spending more time interacting with the brand through courses, articles, and resources.
- Enhancing Community Relations: Companies that offer financial education are seen as community advocates, strengthening their position in the market and fostering goodwill.
Engage in Financial Education with EVERFI
EVERFI’s mission is to help corporations drive impact in the communities that matter most to them. The strength of our K-12 networks, our reporting capabilities, and our branding and volunteer opportunities are unmatched in supporting our partners and their unique goals.
Now more than ever, organizations can make a meaningful impact by investing in financial education. EVERFI is helping over 2,000 organizations worldwide engage their stakeholders through financial literacy initiatives that drive positive outcomes for both individuals and businesses. Schedule a demo today to explore how our financial education solutions can support your organization’s goals.
For more information and to see our success stories in action, visit EVERFI’s Financial Education page. Ready to transform financial futures? Contact us today to learn more.