National Council on Economic Education
Junior Achievement Worldwide
Global Financial Education Program
New America Foundation: The Effectiveness of Youth Financial Education Convening, July 2008
Financial Capability and Asset Building
Critical factors in attaining economic success are the ability of individuals to establish financial plans, maintain financial goals, and develop strategies for preserving their financial position during times of both economic prosperity and instability. The Citi Foundation supports programs that provide individuals with access to knowledge and incentives that help them take control of their financial future by making informed decisions, acquiring and preserving financial assets, and responding to major life events that can affect income and expenses. Recognizing that consumers have different financial priorities at different stages of their lives, the Citi Foundation supports programs that reflect the differing needs, levels of understanding and learning styles of youth, adults and families in order to achieve greater scale and effectiveness.
What is Financial Education?
Financial education provides individuals with knowledge about topics such as basic financial services, saving, credit, financial planning and budgeting, asset building, investing and homeownership.
Through financial education, individuals develop skills to manage their personal finances responsibly, build assets, achieve their financial goals and make informed financial decisions.
What is Asset Building?
Assets are defined as everything owned by a person or company that can be converted into probable future economic benefit. They are important because they can help individuals and families prepare for unexpected events. In addition, building assets can change the way people think about and plan for the future. Poor individuals are usually limited in the means by which to broaden their savings and assets, making asset building an important and efficient way to allow those in need to find their way out of poverty.