Financial Education Association Stated Priority of President’s Advisory Council
People who learn how to manage their money effectively live easier, more rewarding, and less stressful lives. And most people want to learn more about money. In a recent survey sponsored by Charles Schwab and the Boys & Girls Club of America, 92% of respondents agreed that having good money habits is important to life success. That’s why the President’s Advisory Council on Financial Literacy made establishing a financial education association a high priority.
The National Financial Educators Council (NFEC) helps address the growing need for personal financial education by providing curriculum, workshops, training, and online resources all aimed at raising people’s financial competencies. According to the organization’s open source, social enterprise business model, all these materials and courses are available complimentary.
The Advisory Council took steps toward building financial competencies in 2003 by establishing the Financial Literacy and Education Commission as part of the Department of the Treasury’s Office of Financial Education. The goals of the commission were to set a research agenda, build a website and hotline, and develop a nationwide strategy for financial education efforts.
The NFEC has contributed to the movement by sharing best practices for personal finance training with those who seek to become advocates for financial literacy. This financial education corporation has a socially conscious business model which leads them to seek out funding sources and sponsors for financial literacy initiatives, and help connect interested advocates and community groups with those funding opportunities.
Financial education curriculum developed by the NFEC has been carefully reviewed and endorsed by a Curriculum Advisory Board comprised of award-winning educators, financial professionals and experts. Thus their complimentary packages meet core educational standards. At the same time, they subscribe to an experiential learning framework, ensuring that the lessons are practical and interactive so students learn real-life lessons they can truly use.