Making effective financial decisions and knowing how to manage money are skills critical to enjoying a secure financial future. Yet many individuals and families lack the knowledge necessary to make sound financial choices, as evidenced by falling savings rates, mounting consumer debt, and a growing dependence on alternative banking institutions.1 These indicators suggest that access to financial literacy programs is a pressing need in our society, especially for groups such as youth and families transitioning from welfare to self- sufficiency. This brief presents key principles and funding sources for designing and operating financial literacy programs for low-income adults and youth. The brief is intended to give community leaders, policy makers, and program developers a better understanding of effective approaches to providing financial literacy training for low-income adults and youth.
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