Colleagues,
Should we be teaching financial literacy? New evidence suggests that perhaps we shouldn't, that it is meaningless, that it has no effect.
A forthcoming paper in the journal Management Science looks back at 168 studies investigating financial literacy and financial education.....
The findings? Interventions to improve financial literacy are pretty much useless, and financial literacy itself might not be a very good measure of your money skills in the first place.
http://www.fool.com/investing/general/2014/09/07/is-financial-literacy-meaningless.aspx
Please read this article and tell us why you agree or disagree. Should we stop teaching financial literacy? Should we teach it differently? Do you think these studies pertain to children, not adults? If financial literacy is not the reason that some adults cannot manage money, what is? What needs to change for these adults?
David J. Rosen
djrosen123@gmail.com