Financial Literacy Has Never Been More Timely

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Comments

[Brad Shorr]

Hi Rosa, A timely post indeed. One silver lining in this black economic cloud is people from all walks of life are now energized to learn about finance. I think that's a very positive long term sign, much like broadened awareness of energy issues bodes well for the environment. Two mindsets that have been very dangerous are that government can fix all our problems and that big business knows what it's doing. A better informed, more engaged public will demand more from its political and business leaders.

[Rosa Say]

You're right Brad. The recent Carly Fiona slip-up was interesting to me, for I too am of the mind that the U.S. government is in fact the biggest business in America (though certainly not our most shining example), and everyone who runs for any political office needs to understand that, continually working on their own financial awareness.

[Ulla]

I really like the expression "Financial Literacy". I must admit that I haven't been following financial news so closely up to now, but I've changed my reading habits. When reading financial news or listening to them I have the experience that only few "finance gurus" are able to explain the problems in a way I can understand. And to be able to understand is the first step to learning, and to take the proper actions.

[Rosa Say]

Ulla, I think that we’re all like you! We all need to be more financially literate, but the problem is that the so-called gurus and thought-leaders are mostly high-finance people who don’t seem to speak our language!

I first started my financial literacy category here on TS in 2004 with the intention of urging workplace managers at all levels to be better financial info sharers and teachers for their own staff. Since then, I’ve created an SLC workshop which teaches them how to put their ‘money talks curriculum’ together —it’s a train-the-trainer kind of offering. My assertion to them is this; we didn’t learn about money management in school, and chances are that whatever we learned from our parents (if we did at all) needs to be updated in light of the current economic landscape we live in.

Who fills the gap for us, with a subject that is frankly very scary and intimidating when it comes to learning on our own?

Businesses have the perfect opportunity (and I personally think obligation) to be the new teachers who speak in an employee’s language – it’s a win-win for everyone, synching with that coaching we’ve talked about before, to have all stakeholders work ON a business and not just IN it.