Anes Weblog  -

Educate People

23 05 06 20 20

-------- For your own good!

Both Mr. Snow (U.S. Treasury Secretary) and Mr. Bernanke (the new Federal Reserve Board Chairman) agree on the fact that Financial Education for everyone is America is important. CnnFn.com reported their comments today: “People are better able to improve their own economic situations if they understand the basics of personal finance“ and “Because financial literacy leads to better outcomes for individual consumers, continued effort in this area is highly desirable.” -- They told the congress, respectively.

By helping people be better prepared to take financial decisions you are helping them achieve financial stability or even growth. A financially stable family is able to contribute positively to our economy as producers (employees or self employed), consumers, and taxpayers. Financially unstable people are not only more likely to suffer, but also prone to become resource drain to our society.

As parents, husbands, wives, friends, or even acquaintances, it is our duty to them and to our nation to educate people to be financially savvy. Our school system is doing very little in this regard, and even when the Federal Reserve Board is trying, they can't be the only ones responsible for such task.

The very fact you are reading financial press and blogs makes me think your financial knowledge is above the average American. Teach everyone the power of compounding, saving, retirement planning, insurance, and equity building. Teach everyone that they have to take control of their finances for their own good and for the good of our nation.

Other resources:

• Free Personal Finance Course by University of Utah