Author(s): Amy Schmitz and Katie Bova
The white paper discusses the financial literacy challenges faced by low-literate women in the United States. Approximately 30 million adults, with women comprising 46%, struggle with basic literacy skills. Women with low literacy skills lack financial knowledge, making them vulnerable to uninformed decisions and risky financial behavior.
The study emphasizes the need for financial institutions and community-based nonprofits to invest in programs that empower these women. Improving financial literacy among low-literate women can lead to personal and community prosperity.