Financial Literacy
Financial literacy is a broad term that has multiple meanings, depending on an individual’s situation. It may mean learning how to create and manage a household budget, learning how to invest money for retirement, or participating in one-on-one coaching and counseling to determine how to buy a house or start a business. It also is part of an overall strategy to increase economic security for lower-income families. Financial education, just like reading and writing, affects the well-being of every individual. It also affects the economic and social well-being of every community and, ultimately, the overall strength of the nation’s economy.
NCSL Information
NCSL Publications
Other Information
Reports || Resources
Last Update: June 4, 2009
NCSL Staff Contact: Heather Morton, (303) 364-7700, Denver
NCSL Publications
No Bank, No Rank
State Legislatures Magazine, October-November 2004
Financial Literacy: A Primer for Policymakers
April 2005
Financial literacy may mean learning how to create and manage a household budget, learning how to invest for retirement, or participating in one-on-one coaching and counseling to determine how to buy a house or start a business. It also is part of an overall strategy to increase economic security for lower-income families. Financial education affects the well-being of every individual, the economic and social well-being of every community and, ultimately, the overall strength of the nation's economy. This report highlights initiatives to develop financial education programs for students and adults and discusses policy options for policymakers to advance the financial literacy of citizens.
Financial Literacy
February 2006
States are helping students learn to manage their personal finances. Strategies include incorporating personal finance education into state standards and incorporating it into school curriculum. Learn what financial institutions and other businesses are doing at the state and community levels to help launch and sustain these programs.
Credit Reporting: A Primer for Policymakers
August 2006
Learn what a credit score is, how it is calculated, what information is contained in it, and who collects it.
Reports
Beyond 50.04: A Report to the Nation on Consumers in the Marketplace
AARP
Bankrate.com's Financial Literacy Survey
In 2004, Bankrate.com commissioned a national poll to gauge Americans' financial literacy and help them master their money.
The Financial Literacy of Native American Youth
Native Financial Education Coalition
Integrating Financial Education Into School Curricula: Giving America's Youth the Educational Foundation for Making Effective Financial Decisions Throughout Their Lives by Teaching Financial Concepts as Part of Math and Reading Curricula in Elementary, Middle and High School Students
U.S. Department of Treasury Office of Financial Education
Personal Finance and the Rush to Competence: Financial Literacy Education in the U.S.
Fannie Mae Foundation
2008 Annual Report to the President
President's Advisory Council on Financial Literacy
Survey of the States: Economic and Personal Finance Education in Our Nation's Schools in 2007
A Report Card
National Council on Economic Education
Survey of the States: Economic and Personal Finance Education in Our Nation's Schools in 2004
A Report Card
National Council on Economic Education
Survey of the States: Economic and Personal Finance Education in Our Nation's Schools in 2002
A Report Card
National Council on Economic Education
Taking Ownership of the Future: The National Strategy for Financial Literacy
Financial Literacy and Education Commission
Resources
AARP Policy & Research
American Financial Services Association Education Foundation
American Institute of Certified Public Accountants
Community Financial Services Assocation
Credit Union National Association
Personal finance resources
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve Board of Governors
Personal financial education resources
Jump$tart Coalition
Jump$tart's purpose is to evaluate the financial literacy of young adults; develop, disseminate, and encourage the use of standards for grades K-12; and promote the teaching of personal finance.
Mayors' National Dollar Wi$e Campaign: Financial Education for America
A campaign to help consumers learn more about financial issues and to empower them to become investors in their communities created by the U.S. Conference of Mayors’ Council for the New American City.
Mortgage Bankers Association
National Council on Economic Education
The National Council on Economic Education (NCEE) is a nationwide network that leads in promoting economic literacy with students and their teachers.
National Endowment for Financial Education
The National Endowment for Financial Education® (NEFE®) is a non-profit 501(c)(3) foundation dedicated to helping all Americans acquire the information and gain the skills necessary to take control of their personal finances.
Office of Financial Education
U.S. Department of Treasury
Treasury established the Office of Financial Education in May of 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning.
- The Financial Literacy and Education Commission
The Commission was established under Title V, the Financial Literacy and Education Improvement Act, which was part of the Fair and Accurate Credit Transactions Act of 2003, to improve financial literacy and education of persons in the United States
President's Advisory Council on Financial Literacy
The President’s Advisory Council on Financial Literacy (the Council) was created on January 22, 2008 by President George W. Bush. The Council’s purpose is to help keep America competitive and assist the American people in understanding and addressing financial matters. Each member of the Council represents an industry involved with the delivery of financial education to American citizens. The President and the Secretary of the Treasury have tasked the Council to work with the public and private sector to help increase financial education efforts for youth in school and for adults in the workplace, increase access to financial services, establish measures of national financial literacy, conduct research on financial knowledge and to help strengthen public and private sector financial education programs. The Council is scheduled to remain in place through January 2010.
Wi$eUp
Women's Bureau, U.S. Department of Labor
A project designed specifically for women in their twenties and thirties. Wi$eUp is an exciting opportunity for women to explore the world of financial security and retirement savings.
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