In an effort to stave off future financial crises, the U.S. government — not exactly a paragon of fiscal discipline — is currently working on a “food-guide pyramid” – type chart to serve as the basis for a nationwide revamp of education standards in the field of personal finance. The food pyramid has done little to keep America from growing ever more obese, but that fact appears to have little bearing on this Treasury Department initiative.
In any case, here are the topical building blocks for financial health the Treasury has come up with so far:
• Protecting Against Risk
The government further intends to drill into Americans’ heads such concepts as “understand your paycheck,” “live within your means” and “If you borrow now, you pay back more later.”
Despite this impressive handle on the tenets of financial responsibility, the Treasury Department isn’t sure what it wants to put on its economy-saving infographic. From a press release:
The financial education field lacks a common understanding of what we collectively are trying to achieve, and there is no agreement on the appropriate basic content for financial literacy and education.
Before it can proceed, Treasury feels it’s best to take suggestions from the general public to help it bolster our nation’s financial literacy. As such, Tim Geithner and company are asking concerned Americans to email their suggestions to FLECstrategy@do.treas.gov, so that the government can in turn educate them about those suggestions.
Lend a hand. A revolution in American household spending and borrowing habits hangs in the balance.