Why are majority of young adults are still not exposed to financial literacy?

Some possible reasons based on what I have observed in my surroundings (on top of those mentioned - different priorities/ lack of resources):
1. Not having the right settings to learn about financial literacy - most millennials in Singapore generally have a relatively comfortable life without having to worry about their expenses, and regular allowances by doting parents. This entitlement may have set a comfortable lifestyle with little second thought when purchasing items such as one drink (tea/ coffee/ bubble tea, etc) a day, unlike the past generations who were more careful with their spendings.

2. Misconception that financial planning starts after you have your first income. This misleading notion that budgeting (likewise setting aside savings for financial goals / investment & insurance) is too early becomes a complacent reason for millennials to delay their learning about finlit.

Nevertheless, there are many sources like Seedly, or new robo-advisory platforms that are gaining the attention of the younger generation. So, it's depends on the young adults themselves to pick up these skills, where the past education syllabus may not have covered enough. Start learning, and start hustling!

Reading through other answers, I think that maybe is our Singapore environment, while focus on market economy is also quite socialist, much more than most except for Communist nations. So the people trusts the government (nanny state, used previously) including personal finance advise. From housing (social housing + loan limits), personal + car loans, retirement planning, child education, insurance (Medi-schemes, MHA/MINDEF etc), CPF Life (annunity), healthcare (Pioneer & Mendaki), SSB, SRS etc, etc - many apects of personal finance has "advised" and catered by our government to some extend.

So to get more young people exposed to financial literacy, our government just need to tell our parents & young that is important. However, then more people would also question and ask for liberty to manage it themselves since they become more aware.

I think that the young adults today are generally better in terms of financial literacy than say 10 years ago.

That is because of social media where it is easier to get information from platforms like Seedly, Investment Moats etc for free.

We have come a long way and I think we are getting there.

Most people understand the concept of saving. However, how to channel those savings into risk-managed investments delivering suitable returns was not taught in school.

This, coupled with YOLO culture may not be helpful to frame one's mindset towards understanding finance and spreading returns out in a consistent manner over the years.

If you are interested to learn more about financial management. Don't hesitate to reach out! (From a fellow investor)

Cheers