User:Brinleeyoung/Asset literacy

ASSET LITERACY expands an individual’s understanding of the process and long‐term benefits associated with asset accumulation, thereby establishing a more positive and hopeful mind‐set – empowering people to dream big, save, and invest in creating the future they envision for themselves and their family. The term "Asset Literacy" was first used by Shawn B. Young, Executive Director of Frontier Asset Building to address a gap in traditional financial education and financial literacy efforts.

The idea of asset literacy was built upon the concept of "Asset Building" which is defined by CFED as "Engaging in long-term saving and investment behavior as a means to increasing economic independence” and the notion of "Asset Poverty" which is "an economic and social condition that is more persistent and prevalent than income poverty. It can be defined as a household’s inability to access wealth resources that are sufficient enough to provide for basic needs for a period of three months."