If there is one subject the US education system bungles more than sex ed, it’s financial literacy. I never once learned about insurance, credit card debt or what a 401(k) is. The only lecture I remember getting on the topic of money came from a gym teacher who, while going through a divorce and midlife crisis, thought it wise to show a group of eighth graders how to float a check. A useful skill, maybe, except that no one uses checks any more.
Unless you have an accountant parent – or a trust fund – you might learn about investments, budgeting and taxes from strangers online. A Forbes Advisor survey conducted last year found that 79% of Americans between ages 18 and 41 hit up social media for financial advice. It’s a particularly booming business on TikTok, where professionals dole out lessons on personal finance. (One hopes these content creators are professionals; some are former finance majors and self-help authors, while others simply market themselves as guides.)
