No . Pepole do not understand that. Pepole are dumb as f. Not everyone but there is more than sufficient number of pepole that have nothing saved up to call for better financial literacy. There are pepole living from paycheck to paycheck that make more than a hundred thousand dollars per year without any money saved up. Like i said the rapid cost of living crisis and the financial literacy are not colleralted. So long as there are pepole dumb enough to spend money in the casino or even worse on gachas so long there is not enough financial literacy. Is it to simple to call it financial literacy. Frankly speaking yes , it should be called something like personal finances but thats the term that everyone uses and i really dont give enough f about the name. Are there financialy literate pepole that have fallen on due to bad circumstances. Yes. Of course they are. Particulary young pepole that just dont have enough time to build their war chest . But it dosent change the fact that those pepole due to their better ability to deal with their personal finances have better chance to recover. It just as simple. Does that solve the underlaying systematic problem. Not really. But it allows pepole to better deal with said problem. Better is the enemy of good.