Ben Scafidi on Teaching Financial Literacy to Young People
KENNESAW, Ga. (Apr 20, 2021) — Benjamin Scafidi, economics professor and director of the Education Economics Center, recently spoke to consumer blog WalletHub on the topic of fostering financial literacy in the United States.
Scafidi's advice focused on the power of parents to set the right example. By living within their means, routinely saving money, and setting financial goals, parents can become role models for their children. He adds that it is not only important that parents do these things, but that they explain the process to their children.
In the full interview, Scafidi addresses the challenges of teaching financial literacy in school, his thouhts in the effects of regulation in the consumer credit market, and how recipients of COVID-19 pandemic stimulus payments can maximize their potential windfalls.