Importance of Developing Financially Literate Families and Communities: Opportunities for FCS Educators

Abstract

Financial literacy has been an issue for decades in the United States; however, the COVID-19 pandemic put financial illiteracy in the spotlight. Family and Consumer Sciences (FCS) educators have the ability to influence the financial literacy rates among individuals, families, and communities. Despite Hogarth’s 2002 call to action for FCS educators to promote fiscal education, this has not happened. FCS educators must now respond to this call. This manuscript addresses the financial illiteracy problem in the United States, the importance of financial literacy, financial literacy in the FCS National Standards, and the actions FCS educators can take to improve financial literacy.