There’s been serious critique in the last several years about the educational system and what basic knowledge young people should be taught in the United States. Home Economics (Home Ec) comes to mind (everyone should probably know how to cook or sew a button), as well as financial literacy.

There are many young Americans who grow up not really having a deep understanding of budgeting and fixed and variable expenses… But it may not be their fault. Perhaps, Mom and Dad (or other guardians) have always been paying for all of their expenses, making sure they had a roof over their head, clothes on their backs, and food in their fridge. Because, that is what you’re supposed to do as a parent, correct?

So, while there’s no reason to blame anyone, often the process of learning what it costs to live and pay your bills is a rite of passage.

The current state of debt and financial fears also doesn’t mean that Millennials and Gen Zers weren’t educated around savings or working. Many young people have had part-time jobs (although much less in comparison to Gen X or Baby Boomers) but they may also be able to use the majority of that income for discretionary spending – which never created room for feelings of lack when they didn’t have to pay rent or a mortgage.

This scenario can ultimately create a challenge when you are finally out on your own and now have student loan debt, credit card debt, utility bills, and required car insurance. Especially if you are young person moving to a big city for exploration and/or new opportunities, where the cost of living can be quite high.

If you are feeling nervous or sad around finances, you are not alone. If you have cried over your personal balance sheet or your bank statements, you are also not alone. According to yahoo!money, a recent online survey of 1,004 Americans by CompareCards.com found that “7 in 10 Americans said they have cried about money in their lifetimes. Many cited worries over their job or making ends meet. Younger Americans appear the most vulnerable to financial tears. About half of millennials and half of Gen Zers said they cried at least once in the past month over money.”

So how can you cry LESS about money? Well, the first thing is to not be too hard on yourself. But you will also want to create a plan that works for you. Each person deserves financial freedom and not a bank statement that makes them cry on the regular.

Here are some financial literacy resources that may help you figure out how to navigate your way out of crippling debt.

Dave Ramsey Books – The Total Money Makeover – A Proven Plan for Financial Fitness

Bravely Go with Kara Perez – Feminist economics + inclusive personal finance

Debt Relief Programs – you’ll have to do your research but there may be a program that is right for you and an agency that can help you set up a realistic payment program for you

Student Loan Forgiveness – it is worth looking in to your options if you are feeling overwhelmed with student loan debt and there may be ways for your loans to be forgiven

Financial Advisor – consider working with a professional that can help you with your budgeting, investing and retirement savings/funds

And you may still cry because this is big adult stuff… But hopefully you trust yourself to do the research, explore, ask, and find options that work for you to gain a little more control over your financial situation.

If you are not already doing so, it may be as simple as starting with a budget to better understand your income and outgoing expenses. Being informed can help you to plan better for the future and make you feel less like crying.

In a historic move, Federal Reserve Chairman Jerome Powell said Monday that the Fed is open to collaboration with private companies on creating a digital U.S. dollar. Could this be an official cryptocurrency?

Not quite yet. While Powell made it clear that the United States government was not committed to launching a cryptocurrency, he made note of projects like Facebook’s Libra, which have moved central banks to take a closer look at the digital currency space. The Federal Reserve chairman also pointed out that there would be tough policy and operational questions regarding a digital dollar, including monetary policy limitations. He also mentioned that cyber-attacks and illegal activity were a concern.

“We will have lots of conversations with industry and stakeholder engagement, and that’ll help us in our work on digital currencies and cross-border payments,” Powell said in an International Monetary Fund panel, “I actually do think this is one of those issues where it’s more important for the United States to get it right than it is to be first.”

Real-time payments have been an issue for the Fed, as the US lags behind other countries in the space. Mexico launched Cobro Digital that allows users and merchants to make online transactions in digital pesos last year, and China has started testing on a digital renminbi. The Bahamas is the latest country to join the digital fray, announcing on Tuesday that they would be rolling out a nationwide digital currency sometime this month.

Although the Fed won’t commit to a digital dollar at the moment, they are full steam ahead on shoring up real-time payments. The Fed hopes to stand up its FedNow system to allow around the clock real-time payments by 2024 at the latest. So far that project still seems to be running on time according to those who are involved.

Despite the Fed’s non-committal answer, a digital US dollar seems all but inevitable. This past January a survey of 60 central banks conducted by the Bank of International Settlements found that 80% of central banks were doing work on their own digital currencies. That being said, only 10% of the banks surveyed believed they would issue a digital currency in the short-term, and 20% said they planned to release something in the medium term.

When an official US cryptocurrency will hit the market is anyone’s guess, but don’t throw away those greenbacks just yet. As Powell emphasized in his statements, any digital dollar would serve as a complement to physical cash, not a replacement.

“Unlike some jurisdictions, here in the United States we continue to see strong demand for cash,” Powell said, “We think it’s important that any potential CBDC would serve as a complement to, and not a replacement for, cash and current private sector digital forms of the dollar such as commercial bank money.”

More and more people are using peer-to-peer payment services, like Square’s Cash App and PayPal’s Venmo, to make purchases, handle their banking, or just to pitch in on the pizza you and your friends had delivered last night. These payment apps have been particularly useful for folks who may not be able to afford bank fees or have other barriers preventing them from accessing a bank account.

That’s because they are very easy to set up, requiring nothing more than an email address or phone number. Even folks with bank accounts are using these payment apps more as folks are trying to stay home and reduce their in-person contacts during the COVID-19 pandemic. The number of daily users on Venmo has grown 26% since last year.

While these apps bring a lot of convenience to our lives, they have also made running scams more convenient for cybercriminals. According to experts, the rate of fraud on Venmo and Cash App is three to four times higher than with credit or debit cards. While PayPal and Square don’t provide statistics about scams, there are some telling signs. The New York Times and Apptopia, a mobile services tracking firm, found that the number of users mentioning frauds or scams in Venmo customer reviews had increased by four times in the past year.

It seems that Cash App has the most fraudulent activity, with the Better Business Bureau reporting twice as many complaints about Cash App as Venmo, even though Venmo has more users. Zelle has a better track record when it comes to fraud, most likely because it requires a more thorough authentication process when setting up an account. It also has better legal protections for folks who have been scammed.

Some of the things that make these payment apps so quick and easy are exactly the reasons it’s so easy to scam users. The instantaneous payments mean that there’s not much of a vetting process, and not much time to catch a fraudulent transaction before it’s too late. Because you only need an email address or phone number to set up an account, it’s easy for criminals to set up dummy accounts for running scams.

Other scams have been facilitated by the marketing choices of the companies. For example, Cash App regularly runs a Cash App Friday promotion, in which users are rewarded for sharing their username, or $Cashtag, on social media. Unfortunately, this has essentially created a Rolodex of potential victims for criminals.

Square and PayPal are doing what they can to address the problem. Lena Anderson of Square says that they are “aware that there has been a recent rise in scammers trying to take advantage of customers using financial products, including Cash App. We’ve taken a number of proactive steps and made it our top priority.”

One “proactive step” Square has taken is to roll out a customer service phoneline, not only to make it faster and easier for customers to vet potentially fraudulent transactions or report scams, but also because scammers have been creating fake customer service phonelines to target users and collect their personal information. The phoneline is currently available to only some customers, but Square plans to scale it up to be available for all users over time.

Until these companies come up with more robust security systems, there are several things you can do to avoid scams. While you might get a cash bonus from Cash App, it’s probably not worth it to share your $Cashtag on social media. Only share your username with people you know. Never share your personal or banking information with strangers. Examine all transactions carefully. Some scammers are stealing money by making a payment request from an account that looks legitimate, but may have a slightly different spelling or one-letter change in the name.

No legitimate agents of these services should ever ask you for your sign-in code, or to download software, and you shouldn’t click on any links in messages promising cash prizes. Never send small payments in exchange for a promised reward – if it sounds too good to be true, it’s probably a scam. Don’t use digital payment apps to pay for or receive payment from sales on Craigslist, Offer Up, or Facebook Marketplace.

If you think you’ve been scammed, changed your PIN number immediately and contact the company and/or the FTC.