Rethinking How We Become Financially Literate
Thursday, May 14th, 2009
Learning the basics of how to manage our personal finances is an area that has cried out for reinvention for sometime. We don’t learn or practice the basics well in the US. Given the level of consumer credit card debt and the recent sub-prime mortgage meltdown it is clear we are in trouble.
As much of the problem has to do with poor cognitive design – that is, financial products and services that ignore how our minds really work, I am always on the look out for innovations that seem to get it.
Take for example, EverFi, a start-up that is focused on teaching Generation Y about personal finance. There offering has two powerful innovations from a cognitive design perspective.
