Press Release

SPARK Institute Recognizes April as Financial Literacy Month, Tackles Education Gaps for Students Nationwide

Issued by SPARK Institute

Mar. 30, 2025

April is Financial Literacy Month, and the SPARK Institute’s Financial Literacy Committee is reinforcing its commitment to closing the financial education gap and ensuring that all students—regardless of socioeconomic background—have access to the knowledge they need to succeed financially.

Recent research conducted for SPARK by Michael Ellison, CEO of Corporate Insight, highlights a troubling reality: financial literacy gaps often mirror economic status. Wealthier families tend to teach their children financial skills at home, while lower-income families frequently lack the confidence or resources to do the same. As a result, many students from non-wealthy backgrounds turn to questionable social media sources for financial guidance—leaving them vulnerable to misinformation.

“In a world where financial decisions impact every stage of life, too many young people from lower-income backgrounds are left to figure it out on their own,” said Ellison, who also serves as Co-Chair of SPARK’s Financial Literacy Committee. “Without early financial education, these students often lack the confidence to navigate budgeting, credit, and investing, leading to long-term disadvantages.”

To combat these disparities, SPARK is working closely with other organizations to support the inclusion of financial literacy in K-12 curriculum nationwide. Our focus is to provide students — regardless of background — with the real-world financial skills needed for lifelong financial well-being.

“Our goal is to level the playing field by bringing structured, high-quality financial education into schools,” said Snezana Zlatar, Co-Chair of SPARK’s Financial Literacy Committee. “Financial literacy should not be a privilege passed down through wealth — it should be a fundamental part of every student’s education.”

SPARK’s Financial Literacy Initiatives include:

• Expanding Financial Education in Schools: Advocating for state-level legislation to mandate personal finance courses in grade schools and high schools.
• Transforming Learning Models: Collaborating with others to shift from passive financial literacy instruction to hands-on training that builds confidence and intuition.
• Workplace & Community Engagement: Engaging employers, policymakers, and financial institutions to expand financial literacy programs beyond the classroom.
• Addressing Misinformation: Raising awareness about the risks of financial misinformation on social media and creating accessible, trustworthy resources for young people.

SPARK Institute encourages financial services leaders, educators, and policymakers to use Financial Literacy Month as a time to advocate for widespread access to financial education — ensuring that all students, not just those from wealthy families, are equipped to make informed financial decisions.

For more information on SPARK’s Financial Literacy Committee and our research findings visit: sparkinstitute.org.

About SPARK Institute The SPARK Institute represents the interests of a broad-based cross section of retirement plan service providers and investment managers, including members that are banks, mutual fund companies, insurance companies, third-party administrators, trade clearing firms, and benefits consultants. Through the combined expertise of its member companies, the Institute provides research, education, testimony, and comments on pending legislative and regulatory issues to members of Congress and relevant Government agency officials. Collectively, its members serve approximately 100 million participants in 401(k) and other defined contribution plans.

About Corporate Insight Corporate Insight delivers competitive intelligence, user experience research and consulting services to the nation’s leading healthcare, insurance and financial services institutions. As the recognized industry leader in customer experience research for over 30 years, Corporate Insight has been the trusted partner to corporations seeking to improve their digital capabilities and user experience. Its best-in-class research platform and unique approach of analyzing the actual customer experience helps corporations advance their competitive position in the marketplace.

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