Is your personal finance lesson spongeworthy? In an era of shortened attention spans, creating personal finance sessions that are a combination of education and entertainment is essential to maintain student engagement.
The landscape for financial advice is mired in conflicts of interest and an alphabet soup of titles that on the surface convey impartiality and inspire trust. But for years, financial wolves have been cloaked in trusted adviser clothing - masking their real status as self-interested brokers who don’t have your best interest in mind. The most prudent way to protect consumers would be to ensure that all advisers are required by law to put their consumer’s interest first and, therefore, above their own, what’s known as a fiduciary duty.
Today’s graduates are diving into the real-world financial pool without even the basic strokes of personal finance. As the recent financial crisis has illuminated, not only is the water quite deep, but there are also plenty of sharks and, unfortunately, not as many lifeguards as we would have hoped.