Monday, March 4, 2013

Boston Globe on Financial Literacy

The Boston Globe had an interesting article on financial literacy over the weekend.  The paper discusses a program at Harvard sponsored by the college's credit union.  While the fact that even Harvard students need lessons in money is interesting, the article goes into one of the vexing problems in the area of financial literacy research.  No one is yet sure what works.
Many researchers and industry groups are now trying to figure out which programs work best. The National Endowment for Financial Education suggests that students are most likely to retain information if it is covered comprehensively over time — not in one-time lessons. And adults are likely to learn more about ­finances in the workplace, working with advisers, or other alternatives to staid classroom lectures.
The last point is interesting.  How do we get to adults who are outside of school yet very much need to learn more about money?