What’s the best way to teach kids about money?
That question has haunted folks for decades â maybe centuries. There are dozens of financial literacy programs in the United States right now, but none of them seems to be effective. Why is that?
I’ve written before about why I think financial literacy education fails. Here’s the short version: Most financial literacy fails because it focuses too much on mechanics â how bonds work, the magic of compound interest â and not enough on behavior. While mechanics are key (they’re the foundation, after all), they’re not the most important aspect of financial success.
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