Celebrities, politicians, educators, and prominent economists have realized the benefits of financial wellness programs and have begun to speak out about the importance of financial awareness. Financial wellness quotes emphasize the importance of smart personal finance skills and the need for programs that are designed to increase the happiness of learners by assisting them in efficiently managing their finances. Employers, noticing the uptick in employee stress over their finances, have begun to implement workplace programs that focus on steps to increase financial wellness.
Only 17 states require a personal finance course in high school as part of graduation requirements (Council for Economic Education). https://www.councilforeconed.org/wp-content/uploads/2018/02/2018-SOS-Layout-18.pdf
12.4% of those in the top quartile of financial knowledge relied on books and newspapers as their primary source of financial knowledge, compared to only 3.9% for those in the lowest quartile of financial competence (National Bureau of Economic Research). http://www.nber.org/papers/w13565.pdf
“Academic qualifications are important and so is financial education. They’re both important and schools are forgetting one of them.” – Robert Kiyosaki, founder of the Rich Dad Company
“We need to have financial literacy in America, not just complaining about obstructionism. We need solutions.” – Kabir Sehgal, bestselling author of 8 books
“If I had my choice, every high school would be teaching financial literacy along with math and science.” – Gregory Meeks, Congressman, New York
Worldwide financial wellness research points to content knowledge as a worthy goal but it cannot be considered alone. The lofty goal of inclusion must become intimately tied to financial literacy. Young adults in the US have recently shown that financial inclusion without prior financial literacy is a recipe for lifetime disaster with the potential to continue throughout generations. When the numbers are studied closely, this phenomenon will become obvious throughout the history of financial conclusion. People in financial wellness programs need to first understand how their financial behaviors impact their future, as they learn how to manage money. When people are first educated on personal financial management and are then allowed within modern financial systems, the potential for an empowered, fulfilling life improves dramatically. National Financial Educators Council, Financial Wellness Definition.  National Financial Educators Council, ‘Impact of Financial Wellness Providers‘.