“Financial literacy can be life-saving,” says Lucinda Pike, executive director of award-winning economic empowerment NGO Enrich. “Think about a woman who is in an abusive relationship: if she has financial literacy and the knowledge of control and choice over her money, she can leave [that] relationship. At Enrich, I see the power of that for women, who are able to change the trajectory of their lives. Financial literacy is a life skill which women do not have enough access to.”
Limited financial literacy is not the purview of only those from lower socioeconomic backgrounds. Christine Yu, the co-founder of financial education