Cindy Couyoumjian notes that financial literacy is the ability to understand and effectively manage your money. It includes things like budgeting, saving, investing, and debt management. Financial literacy is important for everyone, but it is especially important for low-income people and people of color, who are more likely to be financially vulnerable.

Why is financial literacy important? There are many reasons why financial literacy is important.

• It can help you make better financial decisions. When you understand how money works, you can make better decisions about how to spend, save, and invest your money.
• It can help you avoid debt. Debt can be a major burden, both financially and emotionally. Financial literacy can help you avoid taking on too much debt and can help you develop strategies for paying off debt.
• It can help you save for retirement. Retirement is a long way off, but it is important to start saving for it early. Financial literacy can help you develop a retirement savings plan and can help you make sure you are on track to reach your retirement goals.

Cindy Couyoumjian explains that there are several things that can be done to promote and educate the public about financial literacy. 

Here are just a few examples of how the public can be more informed about financial literacy:

• Include financial literacy in school curriculums. Financial literacy should be taught in schools from a young age. This will help young people develop the skills they need to make good financial decisions throughout their lives.
• Offer free financial literacy workshops and programs. Many organizations offer free financial literacy workshops and programs. These workshops can teach people about a variety of financial topics, such as budgeting, saving, investing, and debt management.
• Make financial information more accessible. Financial information can be difficult to understand. It is important to make financial information more accessible to everyone, regardless of their education level or income level. This can be done by providing information in plain language, using visual aids, and by offering translation services.
• Partner with financial institutions. Financial institutions can play a role in promoting and educating the public about financial literacy. They can do this by offering financial literacy workshops and programs, by providing information on their websites, and by partnering with schools and community organizations.
• Use social media and other online platforms. Social media and other online platforms can be used to reach a large audience with financial literacy information. Financial institutions and other organizations can use these platforms to share tips, articles, and videos about financial literacy.

Cindy Couyoumjian says that financial literacy is important for everyone. By promoting and educating the public about financial literacy, we can help people make better financial decisions, avoid debt, and save for retirement. There are many things that can be done to promote and educate the public about financial literacy. By working together, we can make sure that everyone has the opportunity to achieve financial security.