Financial Education Corporation Raises Competencies Nationwide
Recent statistics clarify that an alarming number of U.S. citizens suffer from financial illiteracy. For example, a scant 11% of workers under 35 years old currently participate in their company’s 401(k) retirement program, according to the American Institute of Certified Public Accountants. And the American Dream Education Campaign has found that 40% of Americans will never gain a net worth larger than $10,000. The National Financial Educators Council (NFEC), a financial education corporation committed to raising financial competencies nationally, is working to address these issues.
The NFEC has determined that financial education does make a difference. According to the U.S. Department of the Treasury, research shows that people who receive money management lessons have higher savings rates, higher net worth, and make larger contributions to their retirement funds than people who do not study personal finance.
For these reasons, the NFEC has created a full set of financial education workshops and made them available at no cost to people who wish to promote financial literacy in their communities. All these programs are based on best educational and financial practices, and guided by rigorous research such as the articles published in the Journal of Financial Education.
It is the NFEC’s open source business model that makes it stand out from other financial education companies. This social enterprise group promotes financial literacy by sharing best practices with others in the financial industry. They also provide a certification course that trains interested parties to become effective financial education instructors.
Financial education games and other fun activities form the cornerstones of the NFEC curricula. These workshop packages are available to reach audiences of all ages and backgrounds. By working to raise the financial competencies of Americans, the NFEC makes an important contribution to giving families freedom, security, and the ability to enjoy everything life has to offer.