Hello followers! I know it's been a long while, but I'm back and here to stay...it's been a long time coming, that's for sure!
Today I thought I would share some information on a less-publicized topic...that of adult financial literacy. We so frequently talk about the financial literacy of youth and young adults as part of a formalized education program. However, adult financial literacy is equally important. Because of our rapidly evolving economy and the introduction of new financial instruments and obstacles in the world today, adults equally need financial literacy education and growth tools simply to understand everything that is out there as well as to support the financial literacy of youth and young adults.
The Institution for Financial Literacy (https://financiallit.org/) is committed to providing standards and tools viable for the adult financial literacy movement. One of the Institute's major accomplishments has been the development of the National Standards for Adult Financial Literacy Education (TM).
For educators in the post-secondary environment, promoting adult financial literacy is a national imperative, especially seeing that so many adults today are underserved and lack even basic financial literacy skills to be successful at life itself. Since our nation's economy changed drastically over past several years, countless adults are returning to college to pursue new careers or simply to strengthen skills. Adding financial literacy education into the curriculum of post-secondary education programs is something colleges and universities today must undertake sooner rather than later.
In addition, adult financial literacy must be achieved in a "delivered as needed" environment. For example, when applying for a mortgage, applicants should have to go through a short financial literacy program on understanding mortgages, mortgage types, and knowing where to go should problems arise once a mortgage is undertaken. As a business society, we all too readily accept that everyone must know about a process if they undertake that process. However, as we have seen in recent years, that has been proven tragically wrong.
Please share your views and ideas on adult financial literacy as a comment to this post! I look forward to seeing what other have to say about this movement in America today.
