Only one in three teens in America knows how to read a bank statement or balance a checkbook. And they’re not the only ones who can use help improving their financial literacy. Schwab focuses on financial literacy because it benefits people at every income level and stage of life. By understanding the basics and learning the tools and principles of money management, individuals can better analyze financial choices and plan for the future.
With the help of dedicated Schwab volunteers, Charles Schwab Foundation provides programs and funding to help individuals fill the information gap. For example, Schwab MoneyWise™ helps adults teach — and children learn — the basics of financial literacy. Interactive tools are available at schwabmoneywise.com, and local workshops cover topics such as getting kids started on a budget. In addition to these efforts, widely distributed publications and news columns by foundation President Carrie Schwab Pomerantz promote financial literacy on a wide range of topics — from saving for a child’s education to bridging the health-insurance gap for retirees.
Most recently, Charles Schwab — founder of The Charles Schwab Corporation and chairman of Charles Schwab Foundation — was named chairman of the newly formed President’s Advisory Council on Financial Literacy. In this role, he will focus national attention on the need for better financial education and help find ways to improve financial literacy — bringing our purpose to life for everyone.
