Financial literacy recommendations outlined
Courtesy Antonio Caban/SHNS
reasurer Goldberg delivers remarks in Nurses Hall at the unveiling of her office's Financial Literacy Taskforce's report.
A lack of financial "sophistication" is leading adults to become vulnerable to scams, according to the leader of a task force that issued recommendations Thursday on how to better educate people of all ages about their personal finances.
"A lack of financial education among adults is certainly a prime reason why people get suckered in....or conned, that is, into mortgages they can't pay for, buying health supplements that they shouldn't be taking because they're not doing any good, and any manner of other schemes and scams," said Barbara Anthony, chair of Financial Literacy Task Force at the report's unveiling at the State House.
The report by the Financial Literacy Task Force, convened by Treasurer Deborah Goldberg, presented 22 recommendations and called for research to assess the current level of personal finance instruction in Massachusetts schools.
Summarizing the overarching themes from the report in her remarks, Anthony highlighted recommendations to launch a public financial education awareness campaign and to create a "one-stop" online portal for educators and policymakers with information on available programming and data. She added that the initiatives will be family-focused because "financial education is a family issue."
Goldberg applauded the 31-member group's efforts, calling it a "blueprint" and suggested that Massachusetts will become an example to other states.
"And so we have a lot to be proud of," Goldberg said of the report. "But we have a lot to live up to because now we need to show how you get the job done."
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