There has never been a greater need for financial education and literacy programs - at work, in schools, in our communities, and in our homes. The evidence is all around us - from skyrocketing foreclosures to mountains of consumer debt to the anemic retirement savings of so many Americans. In many ways, the lack of financial education has been a catalyst for creating the economic crisis around us. So why, in this time of need, should we give pause?
Learning is a process - one where there are no short cuts and one with clearly defined objectives. This fundamental, yet critical, process has at least three distinct stages - each consisting of multiple and equally important steps: 1. Exposing students and individuals to new information; 2. Processing information internally; and 3. Applying the information to a new situation to solve a problem using the information, or to explain what has been learned using the information in a different format.
Companies across America are increasingly committed to providing financial education programs to their employees as a benefit. Adoption of such programs is accelerating in corporate America as demand is being driven by employees seeking guidance in turbulent economic times.A recent survey of employers conducted by the International Foundation of Employee Benefit Plans found that 43% of the U.S. companies surveyed offer financial education programs for their workers.
The need for financial education has always existed but has never seemed to be a national priority. The absence of financial education has become more apparent during this time of economic turmoil. In fact, many attribute the pervasiveness of the financial hardship across America to the lack of financial education that has persisted through time. However, the landscape is changing quickly.
Case Study - CFEF Wednesday, 01 December 2010 Initiative Overview: Financial education has long been the domain of non-profits which by many... Read more...
Case Study - Bank on DC Monday, 29 November 2010 Initiative Overview: Bank on DC is the first comprehensive program in the District of Columbia to... Read more...