The average annual estimate of loss has risen every year since the council started the survey in 2017, and jumped from $1,279 per person in 2019. The latest survey, conducted between Dec. 31 and Jan. 3, was included in a report card on financial literacy released this week by the American Public Education Foundation, which graded each state’s financial literacy requirements and standards for Kindergarten through 12th grade. If schools don’t step up to teach basic financial literacy skills to kids, the economy as well as people’s health will suffer, the foundation said. “Each year, Americans graduate high schools without knowledge of the most basic and crucial of life skills: how to keep a budget, file taxes, open and maintain a bank account, and save for retirement,” the foundation said in the report card. Have a question, comment, or story to share? You can reach Medora at medoralee@thebalance.com.
