ERIC Number: ED476931
Record Type: Non-Journal
Publication Date: 2002-Jul
Reference Count: N/A
Financial Literacy and Older People Moving On. NIACE Briefing Sheet.
National Inst. of Adult Continuing Education, Leicester (England).
In the United Kingdom, the increasing sophistication of money management and financial services' increasing reliance on information and computer technology (ICT) have made financial literacy education particularly important for older people, who are less likely to be engaged in the ICT revolution and more likely to be living on a low income. Education providers, community workers, and others can take the following actions to help older adults acquire the financial literacy needed in today's world: (1) use the Adult Financial Capability Framework; (2) work with older people's organizations; (3) convene focus groups; (4) be active in the community; (5) build financial literacy activities into lifelong learning and information, advice, and guidance plans; (6) assess staff needs and sensitize staff to older learners' special needs; (7) explore how problem-solving bodies can encourage individuals to build on their own success; and (8) use "life stages" approaches. A recent provider survey raised the following issues that should be considered by those providing financial literacy education to older adults: (1) differences in the perception of need; (2) gender issues; (3) tension between giving advice and guidance and encouraging self-development to anticipate and solve future problems; (4) liability issues around giving financial advice; (5) the lack of credible and useful materials; (6) older people's resource potential as mentors and advocates; and (7) perceptions of pride. (Lists nine references and six contacts.) (MN)
Descriptors: Adult Educators, Adult Learning, Adult Literacy, Classroom Techniques, Community Education, Consumer Education, Curriculum Development, Educational Needs, Educational Practices, Educational Strategies, Financial Services, Foreign Countries, Literacy Education, Money Management, National Surveys, Older Adults, Student Needs
National Institute of Adult Continuing Education, Renaissance House, 20 Princess Road West, Leicester LE1 6TP, United Kingdom. Web site: http://www.niace.org.uk (free). For full text: http://www.niace.org.uk/information/Briefing_sheets/Financial_literacy _older_people.htm.
Publication Type: Information Analyses
Education Level: N/A
Authoring Institution: National Inst. of Adult Continuing Education, Leicester (England).
Identifiers - Location: United Kingdom