Financial Literacy Introduction

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

State Legislation || NCSL Publications

Other Information

Reports || Resources

Last Update: March 17, 2008

NCSL Staff Contact: Heather Morton, (303) 364-7700, Denver

State Legislation

2008 Legislation 2007 Legislation

2006 Legislation 2005 Legislation

2004 Legislation 2003 Legislation

2002 Legislation 2001 Legislation

2000 Legislation 1999 Legislation

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

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

MoneySKILL

MoneySKILL, a personal finance course, is a highly interactive, reality-based Internet curriculum.

American Institute of Certified Public Accountants

360 Degrees of Financial Literacy for Women

Community Financial Services Assocation

Credit Union National Association
Personal finance resources

Federal Deposit Insurance Corporation (FDIC)

MoneySmart Program
A financial education program directed at adults.

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

Home Loan Learning Center
A Web site that helps consumers with the home-buying process.

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

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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