Lack of financial literacy is one of the reasons for quite massive poverty of the population. The reason is banal - many people do not really understand what money is, do not effectively earn, foolishly spend,... Financial literacy should be given from the 1st grade of school, and the game "Right earning and right spending" - in kindergarten!
In some countries, financial literacy is a government program. Study, for example, how this process is organized in Finland - from the curriculum for the youngest children to courses for adults.
You nailed it here where you mentioned something like foolish spending. I totally agree with what you have stated here. I believe that this is something that should be taught in schools as early as possible. I wasn’t taught anything about economizing at such an early age, but children quickly know what money so fast and we forget that we need to also teach them about it (in School). I hope that this can be added to curriculum and even if it isn’t, something around such field needs to be taught to everyone on earth, no one is an exemption.