Changes and Trends in Personal Financial Education in the U.S.

摘要

Personal/household finance is the study of personal and family resources considered important in achieving financial success. It involves how people spend, save, protect and invest their financial resources. Personal/household Financial Education covers typical topics as budgeting, tax management, cash management, use of credit cards, borrowing, major expenditures, risk management, investments, retirement planning, and estate planning. Great changes have been taken place in the field of personal/household finance in recent twenty years, from personal income to spending patterns, from investment choices to insurance policies. The objectives of this article are to summarize the changes in personal/household finance and the importance of education in this fields, help educators and /or policy makers understand the changes and trend in this field in order to take active measures to enhance positive progress in personal finance, hence the economy.