U.S. looks to create a financial literacy pyramid
Like the food pyramid, the Treasury wants to create common financial concepts
You've heard of the food pyramid?
The Department of Treasury is taking steps toward creating a financial literacy pyramid, comprised of five "core competencies," to help make financial education concepts more memorable and accessible.
A spokeswoman for the Treasury Department said the department undertook its pyramid-building effort because it was uniquely positioned to create a common set of standards for financial literacy. The Treasury invited the public to comment on the proposed core competencies, soliciting confirmation of the five core concepts and whether portions should be added, enhanced or deleted.
To see how the financial literacy pyramid might work, we've put together our own, and included helpful articles we've published in all five of these core financial concepts: earning, spending, saving, borrowing and protecting.
Click on a section of the pyramid for relevant articles and advice.
- Rewards, credit availability could take a hit as credit card banks' profits fall – Profits at U.S. credit card banks fell due to higher delinquencies and lower net noninterest income in 2017, according to a Federal Reserve report ...
- 6 ways you may be violating your card's terms of service – Engaging in one or a number of any of these activities can result in your account being flagged ... or even canceled ...
- How to avoid timeshare scams: A guide – The Federal Trade Commission named timeshare scams one of the top frauds of 2017, making it one of the largest threats to travel security in the U.S. Our guide details what is a timeshare scam and how to avoid them ...