- Posted by LiSA
- On May 25, 2016
- 0 Comments
- CFEI, financial education, Financial Literacy Summit, First Financial Security Inc., innovation in financial literacy, James Stewart
Technology will drive future innovation in financial literacy, leading people to a deeper understanding of their personal finances and helping them use this knowledge to create a better financial future.
Innovation in Financial Literacy was the theme of the 2016 Financial Literacy Summit in Chicago. First Financial Security, Inc. representative and LiSA Initiative CFEI James Stewart recently attended the 2016 Financial Literacy Summit in Chicago. Here are his impressions of the conference and the important issues discussed there.
On April 20, I had the pleasure of attending the 2016 Financial Literacy Summit, co-hosted by the Federal Reserve Bank of Chicago and Visa Inc. For the 10th consecutive year, the conference successfully brought together international financial literacy experts, representatives of the financial services industry, governmental and non-governmental organizations, academia, and the news media to discuss the future innovation in financial literacy.
The conference introduced and encouraged discussions about some of the most impactful financial literacy programs currently available, and the ways in which we can use technology to accelerate financial literacy globally.
“Technological growth is connecting world economies and transforming lives in new and exciting ways, including how we deliver financial education and help consumers manage their finances,” said Bill Morneau, Canadian Minister of Finance, who delivered the keynote address.
Morneau spoke candidly about the steps Canada was taking to help spread financial literacy, and how his country has experienced similar challenges to those of the United States. He shared that communication and a better understanding of financial literacy’s importance could lead to the acceptance and integration of financial education into standard school curriculum.
We also learned that other countries, including Brazil and Japan, are already making great strides in this area. After gaining consensus on the importance of financial education, they’ve already begun implementing effective programs at all levels of primary education.
Other interesting panels discussed the steps some of the featured companies were taking to promote financial literacy through technology, investing, and other conferences and publications, such as Money Smart Week. This 14-year-and-running public awareness campaign is designed to help consumers better manage their personal finances. They deliver the efforts of hundreds of organizations across the country that collaborate and offer programming that addresses all areas of personal finance.
It was exciting for me to see and talk firsthand with others who share our same passion for financial literacy. While it’s clear that there are no simple solutions, there are people and organizations that recognize the need for financial education that begins at the most basic level. Working together to offer these programs to everyone, regardless of demographic or income level, is the only way to drive sustainable change.
I’m genuinely looking forward to taking what I’ve learned from this summit back to my high school students and building it into my future curriculums. If you have the opportunity, join me for next year’s Financial Literacy Summit!
FFS representative and Certified Financial Education Instructor (CFEI) James Stewart knows it’s never too early for a financial education. That’s why, as a CFEI, James is committed to bringing the LiSA Financial Literacy curricula to students and schools.