2019 NLA Conference

Financial well-being means how much your financial situation and money choices provide you with security and freedom of choice. Financial skill is the pathway to financial well-being. Financial skill is widely understood to be a key element of financial literacy and capability. In addition to a knowledge component, financial capability has an action component—the skills to put financial knowledge to use. These skills are powerful because they can be applied to all kinds of financial decisions, even those that are new and unfamiliar, by adults of any age. This is where libraries are so uniquely positioned to help. Libraries are all about gaining knowledge and skills. To help librarians develop financial education programing the CFPB created 5 principles of effective financial education. These principles encourage effective financial education by proposing the key knowledge, skills, and personal attitudes that can help one take action to achieve greater financial well-being.