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National Financial Capability Strategy

National Financial Capability Strategy 2019-09-04T14:45:22-07:00

National Financial Capability Strategy

There are recognized best practices to developing, deploying and sustaining financial literacy programming outlined in the National Financial Capability Strategy; yet they are often ignored.

The recent economic crisis intensified the efforts of organizations and governments push to review financial education strategies and share viable standards by which financial education programs may be judged. But among the vast array of programs that have cropped up in 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 in part to a shortage of rigorous research defining those financial education best practices.

Recently, however, the National Financial Educators Council (NFEC) analyzed the growing evidence base and identified a foundation for designing effective financial literacy programming. This set of best practices was synthesized into the NFEC’s National Financial Capability Strategy report, and is summarized in this article.

The National Financial Capability Strategy report presents some of the overall strategies identified by various agencies to guide nationwide financial literacy promotion.

National Financial Capability Strategy Background

The NFEC analyzed 48 recent proceedings documents, agency reports, conference presentations, and peer-reviewed research articles to clarify key points of agreement and topics for future research. From our analysis three common themes emerged that might usefully underpin national standards for promoting financial literacy: education, awareness, and sustainability.

Best practices for education consider not only content but context – that is, delivery methods, provider training, and evaluation tools are equally as important as the material being taught. Program awareness is critical because no program will be effective if it fails to reach its target audience. And sustainability is the key to maintaining program results over the long term.

Key Takeaways from International Research

Materials from the U.S. plus five other countries, along with documents from the International Forum for Investor Education (IFIE), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), and World Bank were reviewed for this analysis. View the key points below:

President’s Advisory Council on Financial Literacy

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Financial Literacy Education Commission

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Government Accountability Office

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Australian Securities and Investment Commission

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Task Force on Financial Literacy in Canada

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New Zealand Commission for Financial Literacy

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Central Bank of Pakistan

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United Kingdom

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The NFEC has leveraged the latest research and data since its inception. Our business model has been developed by gathering research, interpreting the data, developing products and services that aligns with the research, testing and modifying the material and then making evidence-based solutions available for others to use. To further the financial literacy movement and promote best practices among the industry, the NFEC has open-sourced the research our business model is based on. We encourage other organizations to adopt best-practices outlined in this report to help propel FLEC subjects (financial literacy, entrepreneurship and career education) beyond the tipping point.

Download the National Financial Capability Strategy Report

National Financial Capability Report References

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  2. National Financial Literacy Framework & Standards- All Ages [Internet]. NFEC. 2014 [cited 2014 Nov 26]. Available from: https:/
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  4. Australian Government AS& IC. National Financial Literacy Strategy 2014-17. Australia: Australian Securities & Investments Commission; 2014 Aug. Report No.: ASIC Report 403.
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  1. Vilma D. Conrado May 7, 2015 at 11:06 PM

    How can I access your guides such as the Financial Literacy Curriculum, Instructors Guide, etc. I really want to share or train others

    • Trevor Stoll May 8, 2015 at 9:54 AM

      Hello Vilma,

      The NFEC provides complimentary resources to organizations and individuals that wish to improve the financial capabilities of the people they serve. Enjoy free access to the 9 financial literacy resources here:, including complimentary, 90 minute financial education workshops for every age range. Workshops include an instructors guide, student guide and PowerPoint.
      If you would like to explore our full curriculum line, visit or give us a call. We’ll spend the time with you to align the most suitable financial literacy assets to your initiative’s vision.

  2. Melvet L. Dangerfield July 16, 2015 at 9:48 PM

    I am interested in acquiring basic information on financial education/literacy in order to present to persons attending family reunions, auxiliary church groups, community groups, day camps, elderly groups and select high school and college groups. Given the dismal condition that too many American adults and adolescents lack adequate savings and accumulation of sufficient assets for normal and emergency events, improving the populace’s financial education, literacy and hopefully their behavior is extremely important.

  3. Dave Walters August 19, 2015 at 9:01 AM

    I am interested in building an eighteen week curriculum for middle school classes. The problem I am having is finding enough quality and quantity of material from the same source. Many sources use various terms that other sources do not use which confuses middle school students.

    • Trevor Stoll September 4, 2015 at 5:17 PM

      Hello Dave,

      Perfectly understandable. All our curriculum uses common terminology used by the professionals of their respective industry without getting too far into the more advance jargon that can have multiple terms associated with it. In terms of quantity: We have over 400 classroom hours in our curricula set. For middle school specifically we have 53 hours of classroom work across 57 lessons. You can learn more about the curriculum and whats included here: . To add to that, the Print on Demand feature that comes standard with all our curricula allows you to pick and choose which lessons you would like to include in the student guide you provide to your students, thereby reducing the cost per student guide while providing you maximum flexibility to make your financial literacy initiative unique and adaptive. You can learn more about the Print on Demand Center here:

      Give us a call if you have any questions. We’re here to help.

  4. Pewee G. Lake November 17, 2016 at 12:20 AM

    I’m currently serving as the Regional Credit Union General Manager for Region One and I also assist the Liberia Credit Union National Association, the Apex for the Credit Union Movement in Liberia. I need material to develop into training materials for schools to introduce financial Literacy Programs.

    • Bill Field November 21, 2016 at 2:57 PM

      Hello Pewee, we’d be happy to discuss our material and fulfilling your needs. The National Financial Educators Council has curriculum suitable for all age groups, so we should set an determine exactly which of our assets works best for you. Please set up an appointment at the following link: We look for to speaking with you.

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