Early childhood education and development have a tremendous impact on life outcomes

Early childhood education is about honing and molding holistic children, which will eventually form the basis of their lifelong journey. Early financial and entrepreneurship education builds strong lives, families, and communities.

Why are practical hands-on learning and real-life experiences over many years vital?

Experts say knowledge-based classroom instruction, online courses, programs, video games, educational events and seminars are useful but alone, are insufficient. Early age practical hands-on engagement using real money and finances on a daily basis over many years is crucial to positive behavior formation, lasting outcomes, and true impact.

Early childhood engagement and education is vital

Early childhood development and education are vital to positive learning outcomes.

Krista Neeley - Vice President - Appreciation Financial

Teaching children from a young age about the importance of spending, saving, and earning provides an empowering baseline for their growing into financially responsible adults. Starting young means building a healthy relationship with money beginning at age 3.

Cambridge University - United Kingdom

Studies show that most children's financial habits are formed by the age of seven. Children grasp all the main aspects of how money works. They form the core behaviors which they will take into adulthood and which will affect the financial decisions they make during the rest of their lives.

Elaine Weiss - National Coordinator - Bolder Approach to Education

High-quality child care and early childhood education have substantive, long-lasting benefits for children and for society at large. Children who have had these opportunities early in life go on to do better in school and eventually do better in the labor market.

Knowledge-based instruction and games are useful but insufficient

Knowledge-based classroom instruction, online courses, programs, video games, educational events and seminars are useful but insufficient as the sole means of delivering effective education and therefore lasting outcomes.

Kate Stokes - Director of Financial Planning - J.E. Wilson Advisors

Like most life skills, learning financial literacy is cumulative. You can't expect a high school student to take a semester-long course in economics and come out financially literate. Literacy knowledge is important, but without real-world application, that knowledge is stale and not committed to long-term memory.

Vince Shrob - CEO - National Financial Educators Council

Nationwide testing demonstrates that the average person lacks the basic financial knowledge he or she needs to make qualified financial decisions. Testing is just an indicator of content knowledge. But unlike other subject matters taught in school, financial literacy requires more than just understanding the content. It requires learners to be able to adjust their daily financial behaviors and have enough knowledge to make confident decisions.

Alicia Dowd - Director - Center for Urban Education USC

Educational researchers emphasize the importance of active learning and projects with real-world problems - this applies to learning financial concepts as well. You simply cannot learn what it's like to manage your own money in a classroom or with a game and so I underscore the importance of practical experience with financial education.

Practical education with real Money is crucial

Knowledge-based education is important, but practical hands-on engagement is crucial to positive behavior formation and effective learning.

Richard Thaler - Professor of Behavioral Science and Economics

It's naive to think that we could give high school students one financial course and then make them financially literate consumers. Consumers must learn budgeting and savings as early as possible.

Andreas Schleicher - Education Director OECD

The best way of teaching financial literacy is not necessarily by instruction in the classroom. Far more important indicators of proficiency are a personal experience with financial products. The volume of exposure to financial literacy in the classroom has no relationships with performance. That is very different for math or science teachings.