The 2020 Financial Literacy Annual Report details the Bureau’s financial literacy strategy and activities to improve the financial literacy of consumers. Congress specifically charged the Bureau with conducting financial education programs and ensuring consumers receive timely and understandable information to make responsible decisions about financial transactions. Empowering consumers to help themselves, protect their own interests, and choose the financial products and services that best fit their needs is vital to preventing consumer harm and building financial well-being. Overall, this report describes the Bureau’s efforts in a broad range of financial literacy areas relevant to consumers’ financial lives. It highlights our work, including the Bureau's:
- Response to the COVID-19 pandemic
- Pivot to financial resilience
- Start Small, Save Up campaign
- Foundational research to understand the pathways to financial well-being
- Misadventures in Money Management online training program
- Managing Someone Else’s Money guides
- Your Money, Your Goals toolkit
- Paying for College tool
- Direct to consumer tools, community outreach channels, and areas of research
The ultimate goal is to improve the financial literacy of all consumers in America, and we are committed to bringing together partners from across sectors to develop and execute a strategy to achieve this outcome.