Prof Megan McCoy, a Professor of Practice at Kansas State University in the USA is advising that deliberate effort is made to teach children financial literacy during their formative years.
Prof Meghan McCoy, the Director of Personal Financial Planning Masters programme made the comment while contributing to the maiden School of Business-UCC webinar series on Coronavirus Pandemic and Financial Therapy on Wednesday, May 27,2020.
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“I am actually doing a paper on the need for financial education throughout student education from primary, high school and college. If we are able to get that curriculum, we would have a huge snowball effect” she said.
According to her, these efforts will encourage students start talking to their parents about finances, thus financial socialization around the family could then improve earlier on.
Prof Megan McCoy stressed on the “need to understand how our personality and attitude would impact our financial behaviors, social and economic environment all that would shape our actions around money.”
In her additional submission on the subject, “Coronavirus pandemic; household financial anxiety and wellbeing” she encouraged individuals who have been direly hit by the coronavirus pandemic not to dwell on their losses.
The School of Business webinar series focuses on the impact of coronavirus on personal finance which includes family finance, retirement finance and personal or household savings which although is suffering from the repercussions of the pandemic , haven’t received much attention.
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Source: Joseph Kobina Amuah/ATLFMNEWS
