Financial Education – Time for a Rethink?

Traditional financial education both in poor and rich contexts have taken a didactic, class-room based approach to conveying analytical financial concepts like budgeting, saving, managing debt, and calculating interest rates. This Note makes the case that it is time to re-think the process of financial education to merge it with product marketing, thus making it more relevant for customers and more cost-effective for financial institutions. It is clearly time to test the efficacy of alternative, experiential, product-focused financial education interventions compared to traditional financial education training.