Financial Education

/Tag: Financial Education

Are states providing adequate financial literacy education?

Young people in America face an economic landscape marked by increasingly expensive higher education costs, more frequent job changes, and greater personal responsibility for retirement savings. It is more important than ever that youth are financially literate in order to navigate the many difficult decisions they will face during their lifetimes. Unfortunately, levels of financial

Taking aim at employee stress, employers expand financial education benefits

From credit card debt to saving for retirement and paying for children’s education expenses, stress over finances is taking a major toll on employees — and it’s also taking a major toll on the workplace as a result. That’s among the takeaways from new research from the International Foundation of Employee Benefit Plans, which found

In an age of responsible capitalism, financial education must be our shared purpose

When my daughter was 10 she asked me if I was a ‘saver or a spender’; I asked her to guess, and she said “a saver”. I asked her the same question back; she replied that she was a spender, but that her sister was a saver. Research by the University of Michigan recently showed that

Americans Overestimate Their Financial Literacy

A new study reveals that while Americans are generally overconfident in their financial knowledge, only a few could score a top grade on a financial quiz. The “Financial Literacy: Prosperity Begins with Knowledge” study from Raddon, a provider of innovative research, also found that the vast majority have never attended a financial education program, although

4 Stats That Reveal How Badly America Is Failing At Financial Literacy

Do you work hard every single day but still don’t feel like your finances reflect your grind? You’re not alone. Most of us invest a significant amount of time, money and effort on getting a job but we pay very little attention to managing the money we make once we have that job. And having

Money 101 For Millennials: Seven Tips For Improving Your Financial Literacy

When young adults become fully responsible for their personal finances for the first time, they're often in for a rude awakening. Financial literacy is rarely taught in school, and if their families didn't discuss credit scores, taxes and interest rates as they were growing up, these newly-minted members of the "real world" can easily get

April is Financial Literacy Month – Why Financial Wellness Matters

April is Financial Literacy Month and a great time to focus on financial education. A lack of financial preparedness has huge societal costs, and in the coming years as Americans age, these costs will likely increase. There are daunting challenges facing not only the poor but also the working middle class. In the face of

“Adulting” Is Harder Without Any Financial Education

T. Rowe Price’s tenth annual Parents, Kids & Money Survey revealed that receiving financial education in school can have a positive impact on financial behaviors years later. The survey sampled 1,000 young adults and found that those who received some financial education in school (59%) are more likely to have good saving habits compared with

Five things to know about the financial illiteracy crisis

Over the past five years there have been repeated calls for the government and educational bodies to step up and tackle financial illiteracy. These have largely fallen on deaf ears, and the crisis has continued to deepen. With this in mind, here are the five things financial advisers need to know about the financial illiteracy

Financial Feedback

How feedback trumps financial education in improving people’s financial capability. By Crawford Hollingworth and Liz Barker, The Behavioural Architects Our financial capability – being in control of managing our money – is crucial to our financial health. Without it, we may struggle to pay off debts, pay bills on time, buy a house, save for unexpected

The Value of Family-Related Benefits in Financial Literacy Programs

There’s one family-related employee benefit that, although it does not get as much attention as paid parental leave, can have a huge impact on employees’ children’s lives: financial literacy education.  With job candidates no longer focusing solely on salary but also on the benefits accompanying a job offer, employers are seeking new benefits to attract and

Why Personal Finance Education Is Important

When the question of who needs personal financial education comes up, the people that come to mind are those who probably deal who business or those seeking to invest. Most people would not be bothered with any financial education, and they are always under the false illusion that they are in touch with their finances.

Reader Poll: The Case for Financial Literacy

Calls for improved financial literacy remain a constant refrain as a means to help assure the nation’s financial security – what do NAPA Net readers think? Let’s start with how early should we start teaching kids about finance. More than 4 in 10 (41%) said between fourth grade and high school, but nearly as many

The Financial Well-Being of Employees

What this means is that companies are starting to show more compassion towards their staff by being more proactive when it comes to ensuring employees are more educated on financial matters and long-term financial planning. Some companies are bringing in counselors to speak with their employees about their finances and their strategies for the future.

More knowledge, less recidivism is goal

Richard Midkiff circulates among five folding tables in a cramped library meeting space. He hands each of the 25 students a stapled lecture note packet as he passes by. Each page displays three slides from a PowerPoint presentation and provides adjacent lines for hand-written notes. Some students thumb through the packet. Others pull pens out

Three strategies to boost financial wellness in your workplace

A company retirement plan used to be an optional benefit for employees. But it turns out that investing in your workers’ financial future can have a direct impact on your bottom line. Today, 53 percent of Americans are stressed about their finances, according to PwC’s 2017 Employee Financial Wellness Survey. And nearly half of those

The Global Search for Education: Is Your 15-Year-Old Financially Literate?

“The more that financial education initiatives are developed, both in and outside of school, the more important it is for governments and other stakeholders to evaluate and prioritize such initiatives and to scale and spread good practice.” — Andreas Schleicher To thrive in today’s innovation-driven economy, students need a different mix of skills than in

Financial education helps employees cope with life issues, research finds

Financial education in the workplace can help employees to cope with life issues, with 48 per cent believing that it would enable them to save for retirement, according to a report from Capita Employee Benefits. The Insight report surveyed over 1,800 employees aged 16 or over in the UK and found that over 75 per

Employees Want Financial Wellness Help, Survey Says

An overwhelming majority of employees say financial wellness should be a part of their employer’s overall wellness program, but most employees say they are not getting financially fit at the workplace. An online national survey of 511 employees conducted by Four Seasons Financial Education in St. Louis, Mo., showed that 45% of employees said their

How Financial Knowledge Drives Wealth Inequality

What differentiates the financial success stories from the others turns out to be exposure--in school or the workplace--to financial education, says WSJ Wealth Expert Olivia Mitchell of the Wharton School. Financial knowledge plays a crucial role in shaping wealth inequality, according to a new study that my co-authors and I just published in the Journal