Why Financial Literacy Education is Crucial: Insights from Planet Money and WUSF Public Media.

Financial literacy education has been criticized in the past for being ineffective, but a new paper by Annamaria Lusardi and Olivia Mitchell argues that properly taught programs can work. The paper highlights the woeful level of financial literacy globally, particularly among women and young people, and the potential economic impact of this. Lusardi says that financial literacy should be taught early, starting at home and in school, and that successful courses will help people grasp key financial concepts, understand financial instruments and contracts, and be aware of their rights and obligations in the financial marketplace.