Thursday, August 8, 2013

An Interesting Take on Financial Literacy Education

There is an interesting piece over at about the need to radically reinvent financial literacy education.

The key point:
Instead of teaching these outdated modes of financial literacy, programs should strive for financial capability, which can best be achieved through relevant, timely, actionable, and ongoing education. Instead of counting the number of terms students memorize and forms they recognize, financial educators should measure student mastery through behavioral change and other tangible, financial outputs.
What do you think? Is the approach to financial literacy education outdated?