The current financial literacy/capability/empowerment movement isn’t making the impact that had been hoped for. Why not? What’s missing? Savings rates should be higher. Credit card and student loan debts should be lower. Pay Day lenders shouldn’t have any customers. Why aren’t people making better choices when it comes to money?
One
young person told me we needed to make saving sexy. Wow…I hadn’t heard that
before. And I haven’t seen anything remotely sexy in the world of financial
education. Hmmm…maybe “sexy” is the missing link in the financial literacy
world. Hard to imagine a girl swooning when her boyfriend tells her he
contributed the maximum amount allowed to his retirement account. And would a young
man actually care that his significant other had no credit card debt? Probably…but
that doesn’t strike me as sexy. But I do think this person is on to something.
If nothing else, sexy financial education materials will most definitely get
people talking. I wonder if this could become one of those things where any
publicity is good publicity.
What
do you think?
Alice
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