NEFE Focus: Knowledge Influencers

While this framework is designed to encompass the broader personal finance landscape, at NEFE, our specific focus is on knowledge influencers: Financial Education and Financial Information and Tools.

Financial Education

A systematic approach to cultivating financial knowledge and financial decision-making skills.

It implies the use of appropriate pedagogy, learning objectives and assessment techniques, as well as being of adequate duration to allow the learner to incorporate new knowledge into their existing schema.

Financial Information and Tools

A variety of tools, resources and activities that inform the individual about a topic or decision.

Examples include small-dose lessons not part of a broader program or curriculum, articles or reference resources, tips and tricks, calculators and decision aids.

They often are used in self-directed inquiry or in conjunction with behavioral interventions. They can and should be used as a part of a financial education program or initiative, but on their own do not constitute education as they lack pedagogy, learning outcomes and assessment techniques as well as sufficient duration for the learner to fully assimilate the information into lasting knowledge.