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Financial Education – Government Organizations 2017-01-16T09:55:32+00:00

Financial Education – Government Organizations

Financial problems have reached epidemic proportions in our country. Financial issues contribute to a variety of troubles many people face today, from crushing debt to retirement shortfalls. This epidemic hurts individuals and communities alike.

The financial literacy movement is at a tipping point – government organizations and other stakeholders contribute toward a global push to improve financial capabilities among the world’s citizens. You are invited to join the financial literacy movement in a way that aligns with your personal, business and philanthropic goals.

How Government Organizations Participate

Per the Consumer Financial Protection Bureau report, as a nation we spend about $670 million per year on financial education. This figure includes federal funding of $230 million, state funding across all states at $67 million, and funding by municipal school districts at $46 million.

Considering that more than $3 billion is invested in STEM coursework by the federal government alone, the need for financial education training becomes clear. While less than 10% of students will get STEM-related jobs, 100% of students will need to manage their finances.

Government organizations participate in two main ways:

Direct Participation

Annual Expenditure in Passive Participation

Indirect Participation

Annual Expenditure in Passive Participation

Top Participation Reasons

Consumer protection is a top reason for government organizations to become involved in financial education. Much government funding comes from financial settlements with financial service providers. These fines and other penalties fund programming, but unfortunately those programs often are short-lived. Once the funds dry up, the programs end.

Sustainability is the key to long-term success and scalability of any financial education program. It is important for organizations that want to make a lasting difference in their communities to adopt a model that funds ongoing financial education programming.

New Innovations Upgrade Program Options

Among the vast array of programs that have cropped up over the past decade, few – if any – can claim to draw upon solid empirical evidence of best practices for financial education. This failure can be attributed to a lack of experience, personnel, capital, and executable processes.

The current reality is that most financial education programs are a random mixture of resources that lack overall campaign design. Few organizations have adequate measurement systems in place, and even fewer know how to use the data. This shortcoming results in financial education programs that are short-lived, suffer from poor participation rates, and offer limited brand benefits.

But it doesn’t have to be this way.

Recent research, process, and technology breakthroughs allow individuals and organizations of all sizes to contribute in a meaningful way to promote the financial literacy movement. Even if you are just starting out, you can lay a foundation for your initiative based on available best practice data.

Common Participation Options

No matter the size or scope, we value your passion and interest in promoting financial education. Complete the short survey below to gain immediate access to your custom financial literacy presentation.

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