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?

Because something is not working. Our financial literacy rates are plummeting at a time when most Americans have access to more information - not less - about being financially responsible and managing their money.

There is a real risk that more money is put into expanding the reach of financial literacy programs - when their efficacy is not proven. In other words, there is a real risk that we will throw good money after bad. This is not to say we should not fund financial literacy initiatives - just the opposite - we need to and in a meaningful way. However, we also need to know the programs are effective. We need to know the money is being put into successful programs that are outcome-based and have demonstrated results.

Financial education is, at the end of the day, education - just like science, history, or math. Those courses are based on a certified curriculum, taught by teachers who are specialists in that subject, and delivered by people (teachers) who are trained to be effective instructors and understand their students needs. Financial education and literacy programs need to meet these fundamental education requirements otherwise we risk continuing to fund ineffective programs.

In business, there is a joke that 'if you are losing money on every sale, you can make up your losses by selling more'. Let's not let financial education suffer the same fate. We will see a lot more financial literacy initiatives from the new Administration - and a willingness to fund them. But let's make sure we put that money to work in outcomes-based programs where the curriculum is certified, the instructors are certified on the curriculum, and the instructors have been taught basic teaching strategies.

We are at an unusual crossroads where financial education is getting the spotlight it deserves - now is the time to make the positive changes needed in our financial education programs. Let's do it the right way.