In 2019, NEFE embarked on a strategic planning process to assess our position in the field of financial education and sharpen focus on our initiatives. Throughout this course it became clear that the role of financial education, and what it realistically can achieve, is neither well-defined nor well-understood. To assist in a better understanding of how financial education relates to financial well-being, NEFE developed the Personal Finance Ecosystem. The goal of the ecosystem is to outline the interrelated landscape that impacts an individual’s financial circumstances. As the personal finance ecosystem continues to evolve, NEFE is embracing conversation on its definitions and the potential value to the field.
At FinCon 2019, a gathering of bloggers, podcasters and digital content creators, Billy Hensley, Ph.D., president and CEO of NEFE, joined Mindy Jensen of the Bigger Pockets Podcast for a thorough dialogue about NEFE’s vision for the future of financial education.
“We’re trying to define this ecosystem within which we all exist. Part of that is financial information, financial education, helping people make better behavioral choices. But it is a complicated landscape that we live in, and we’re trying to provide clarity for the effectiveness of each aspect of this,” says Hensley.
For more than 30 years NEFE has provided educational resources, and we are proud to continue that legacy. Yet we responsibly understand that there is more we can do to improve financial well-being in America.
“It’s not just about providing curriculum for teachers to use in the classroom, or high-quality information directly to the consumer. It’s about, how do we change our dialogue so that we help everyone move ahead,” says Hensley.
We are excited to be a part of the momentum happening in the U.S. as more focus is being paid toward financial well-being. We are eager to drive toward meaningful impact.
For more on NEFE’s assessment on the state of financial education.
For more on NEFE’s strategic plan, and vision for the future.