In other words, households that are financially illiterate exhibit smarter financial behaviors and make smarter financial decisions than so-called financially literate households.cites academic studies that claim “children as young as three are able to grasp basic financial concepts like value, exchange, and choice,” and “basic financial habits are pretty much set by age seven.”“The first step is to talk about money with your children.
This was a spurious—not to mention ridiculous—argument because who’s to say that financial institution marketingeducational? If a bank’s marketing efforts inform consumers about their choices and how to choose products and providers, couldn’t that be considered “financial education”?like the one that spent $500 million—roughly $24 per child between the ages of 0 and 5—to help kids sit still in kindergarten.