Debunking Financial Literacy Myths

The CFPB says that FIs spend US$17 billion on marketing and that just US$671 million, or about US$2 per person, is spent on financial education.

And like uncritical, brain-dead slugs, many of you don’t just believe this, but tweet it, implying that the spending is out-of-whack.

My take: Comparisons of financial education spending to FI marketing spend are spurious, and belie the facts about financial literacy and what really needs to be done about it.

Read more at Snarketing 2.0

Debunking Financial Literacy Myths

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