What is the main goal of financial education programs?

The main goal of financial education programs is to equip individuals to make informed financial decisions. This encompasses a wide range of topics, such as budgeting, managing debt, understanding credit, and planning for future expenses, which helps individuals build confidence and skills in handling their personal finances.

By fostering competency in these areas, financial education programs empower people to understand their financial options and the long-term implications of their choices. This leads to better financial outcomes, as individuals are more likely to engage in responsible spending, saving, and investing practices.

While promoting saving in retirement funds is an important aspect of financial education and can be a specific focus within these programs, the overarching purpose is broader—it is about providing the knowledge and tools necessary for individuals to navigate their entire financial landscape effectively. Preparing individuals for careers in investment banking or encouraging high-risk investments are too specialized and potentially detrimental to be considered the primary goals of financial education for the general public.