Personal Financial Training Perspective in the
World
In the developed world much has been undertaken with regard to financial
education and training for different age cadres. Most of the schools
from low level have been mandatorily embedded financial literacy either
completely or partly in formal or informal learning syllabuses. In US
for instance they have National Financial Literacy and Education
commission, the Office of Financial education and the President’s
Advisory Council on financial Literacy at federal level. All these
bodies are well-placed to promote financial literacy education in the US
(Johnson & Sherraden, 2007). The policymakers at state level have made
an agenda of demanding all districts to embrace personal financial
training in their formal curricular (Margaret S Sherraden & Ansong,
2016). (Klapper, Lusardi, & Van Oudheusden, 2015) hint that in major
advanced economies 52% of adults who went through secondary education
and have a duration of 9 to 15 years of studies were more financially
literate. While among adults with primary school education and up to 8
years of schooling only 31 percent were financially literate.