Improving Our Financial IQs: Why Managing Money Should Be a Lifetime Skill
On: 06/17/2010 Views: 17
It's no secret that many Americans are financially illiterate, or unable to understand basic principles of money management. To address this situation, Wharton, Dartmouth and the Rand Corporation have established the new Financial Literacy Center, which will develop "educational materials and programs that help foster saving and retirement strategies over the life cycle." Annamaria Lusardi, an economics professor at Dartmouth who will help lead the new Center, and Michelle Greene, deputy assistant secretary for financial education and financial access at the U.S. Treasury Department, spoke with Knowledge@Wharton about the Center's goals and why individuals need to be more proactive about their financial health.