From Due, Inc.:

The shift towards digitization in financial literacy is significant, with the impact being profound on managing funds and planning for the future. The Federal Reserve Bank of San Francisco’s survey in 2021 revealed that credit cards accounted for 28% of all payments made, showcasing the importance of digital financial literacy. Financial literacy is crucial for making informed decisions about budgeting, investing, and taxes. However, the rise in cyber fraud poses a threat to financially illiterate individuals, with 75% of Americans expressing concerns about having their financial information stolen by hackers. It is essential to combine financial and digital literacy to navigate the digital financial landscape safely and effectively.



Read more at Due, Inc.: How Does the Digital Era Impact Financial Literacy