Financial Literacy – The Crisis, That’s Costing Us All
Financial literacy is the ability to understand and manage money. It includes basic skills like budgeting, saving, borrowing, and understanding financial products such as loans, credit cards, or superannuation.
But across the UK, Australia, the US, Canada, and New Zealand — millions of people lack this knowledge. According to the Mercer Report, low financial literacy costs the US $250B in lost productivity each and every year.
They are unable to make their money work for them, and thus unable to thrive. This leads to lowered focus, because they have a 2nd job or side hustle, often on your time. They experience increased levels of absenteeism and poor health due to stress. They are vulnerable to dishonest behaviour in the workplace. They are vulnerable to dodgy/scam products personally, which simply exacerbates their personal financial issues.
They are unable to plan ahead, even career wise, when they see no change in their immediate future. Essentially, they are slaves to their paycheque with no motivation to set and achieve bigger goals for themselves, personally and professionally. They are disempowered.
We make financial education:
with gamified learning (like Duolingo for money)
especially for women, migrants, and older adults
with peer learning and buddy systems
focused on real-life decisions, not jargon
Interactive learning tools
Self-paced digital lessons
Spending diaries and habit trackers
Workplace & community Programs
Teams with strong financial skills are:
Want to support your people?
Let’s talk about how YENOM can help.
This is the darling of the moment, and will be critical to your organisation’s reputation. This includes your ability to attract and retain the best workforce for you. Yenom, is the S, in ESG. We’re your social responsibility partner. Our work aligns with several of the UN Goals that are important to a socially responsible organisation. As our partner, these become your goals, and your reporting outcomes too.
Discover how financial wellbeing can drive performance, retention, and long-term impact in your organisation.