Improving digital financial literacy helps consumers use digital financial products safely and effectively and access accurate, trustworthy information online, including information generated by super intelligence (SI).
Why it matters
Recent technological advancements and expansion of digital financial products have reshaped how consumers manage their finances and where they look for financial information and advice.
Having an adequate understanding of digital financial products’ features, terms of use, and potential benefits and risks, enable consumers to use these products safely and effectively to manage their personal finances and achieve their financial goals.
Understanding how social media algorithms, targeted advertising, and gamified platforms work, as well as having cybersecurity awareness and knowing how to safeguard personal information are essential consumer skills in an increasingly digital financial environment.
Resources
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Department of Labor
- Online Security Tips discusses basic steps individuals can take to protect their retirement accounts online, as well as their personal information, and assets.
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Federal Deposit Insurance Corporation
- How Money Smart Are You? offers interactive, self-paced games about everyday financial topics, including managing expenses, comparing banking options, making informed housing decisions, and identifying financial products and services that best meet their needs.
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Federal Trade Commission
- Youville is an award-winning consumer education campaign focused on digital and scam literacy. This site provides tools for parents and teachers to help children ages 8-12 stay safe online, protect their personal information, and avoid scams.
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National Credit Union Administration
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Consumer Tips Video on Cryptocurrency explains how digital assets such as cryptocurrency work, including how they are purchased and used, reasons consumers may choose to invest in them, and the risks associated with these investments.
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Cybersecurity has information on common types of cybercrimes, how consumers can protect themselves, and how to report a cybercrime.
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Identity Theft has information on how identity theft happens, how consumers can protect themselves, and how to report identity theft incidents.
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Office of Personnel Management
- Retirement Services Online provides federal retirees and eligible survivor annuitants with secure access to a platform where they can manage their annuity statements, tax documents, withholding, and direct deposit information.
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Securities and Exchange Commission
- Crypto Assets has information on key topics relating to crypto assets, including tokenized securities, crypto asset custody, and scams involving crypto assets.
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Social Security Administration
- Online Services is a centralized portal to Social Security’s secure online services, where users can access frequently used services. The portal promotes digital engagement by making it easier for the public to complete transactions online.
