You're not giving a clear answer.
I'll answer it for you (or at least try to). All teaching "financial literacy" does is create a support group to counter the social pressure. It's not any sort of new understanding of finances that fixes the problem, because there isn't anything taught.
I think “financial literacy” is not the issue so much as money management.
It would make sense that many of the people on this forum are more financially literate than Your average young couple.
When I was in Kollel I organized a money management seminar and I think most of the ideas were brand new for the attendees.
Things like: “there is always more month left at the end of the money”, “pay yourself first” How compounding interest works for or against you and the difference between an asset and liability (rich dad poor dad.)
Just to understand the extent to which people tend to be bamboozled: most frum families who lease or buy a new car refer to it as an “investment “.
Financial literacy is the next step, And may be