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In some cultures talking about money would be a complete taboo, however, in education, there are times where students get the chance to learn about money, either in math, or in language related subjects. I personally believe that participating in financial programs to increase my financial literacy would have put me in a much stronger economic position. However, no one can deny that there appears to be a general disinterest in developing financial literacy programmes. Instead, all the focus is on literacy or numeracy. Most of us received limited financial education; Which in most cases came in a scattered way through subjects such as numeracy and social studies or through other co-curricular or extra-curricular activities, but nothing specific and concise that received an equal amount of effort and time on the schedule. In the later stages of our lives, we have received live lessons about money management where many us had to pay a double tuition on those real life sized classes that had to put us in loops of financial recover, would it be better if we had learned a bit more about personal finance? The lucky individuals who choose to study business will receive substantial direct exposure to financial education. This brings into question the overall value of financial literacy, particularly when it is confined to a small subset of students and focused on a single stage of life. You will be surprised that there is very little literature on the topic of financial literacy, if this does not sound consipirational enough, let me add to this that there is lack of consensus among researchers and educators.of what could “Financial Literacy” induce as meaning. According to Lusardi and Mitchell (2013), individuals with low levels of financial literacy are more likely to make poorer retirement decisions. This underscores the necessity for comprehensive financial education programs. Rachmadyanti (2023) emphasises the importance of teaching financial literacy at a young age, stating that elementary school is an opportune moment to impart financial literacy. Educating children about earnings, expenditures, and savings at this point is more feasible, which will yield lasting advantages. A solid understanding of financial literacy, as Rachmadyanti (2023) highlights, can help shape a generation that is not excessively consumptive and can effectively manage its finances. In addition, Willis (2011) suggests that the long-term effects of financial behaviour may not be immediately apparent; therefore, people often underestimate the delayed or uncertain outcomes of today’s financial behaviour. This highlights the need for continuous financial education to ensure individuals are prepared for future financial challenges. However, Lusardi and Mitchell (2011) affirm that financial illiteracy is widespread globally, even in countries with well-developed financial markets like Germany, the U.S., Japan, and the Netherlands. Many individuals in these nations lack knowledge about basic financial concepts. Furthermore, Frączek (2014) highlights that numerous young individuals feel unprepared to navigate the intricate financial landscape of the twenty-first century. Lusardi and Mitchell (2013) also emphasise that the lack of access to quality financial education programs and resources can significantly hinder individuals from acquiring essential financial knowledge. Consequently, addressing these educational gaps is crucial for improving financial literacy worldwide. However, Huston (2010) affirms that the mixed results of various studies indicate that not all financial education programs are equally effective. Huston (2010) also adds that some literature suggests financial education does not significantly improve financial knowledge. Moreover, Frączek (2014) identifies financial education as an upcoming challenge due to the potential mismatch between the content and delivery methods and individuals’ actual needs and expectations. For example, high school students often focus on learning how to buy a car efficiently rather than on saving for retirement. According to Crane (1978), personal finance is noted as the most challenging class within the finance curriculum for any instructor to effectively teach. This is due to the diverse subject matter, which typically includes four major areas: general financial considerations, real estate, insurance, and investments.

Hirshleifer (2015) argues that although the affective revolution in psychology during the 1990s highlighted the significant role of emotions in decision-making, this insight has only been partially integrated into the field of behavioural finance. Further theoretical and empirical research is necessary to understand how emotions influence financial decision-making. Therefore, Willis (2011) proposes that educators should assess the psychological biases of individuals, tailor training sessions accordingly, and provide personalised one-on-one training.

Successful interventions have been implemented to provide access to programs and materials. Rachmadyanti (2023) has highlighted the implementation of Aflatoun in some schools, an international NGO program specialising in Child Social and Financial Education (CSFE) aimed at improving children’s financial attitudes. This allows children to develop financial literacy at an early age. In the same study, Rachmadyanti (2023) mentions using My Classroom Economy (MCE) in lower-level classes as a financial simulation covering mathematics, social studies, and reading, focusing on promoting financial literacy. The study also explores various interactive activities in financial literacy education within schools, including online interactive games. Unfortunately, as Baker (1976) notes, the technical nature of many finance courses can discourage students from enrolling. Therefore, Rachmadyanti (2023) advocates for learning methods inspired by real-life scenarios, such as using math to solve problems and role-playing games, to demonstrate the practical use of finance and the value of responsibility in managing finances.