1、原文 ： Personal Finance: Past, Present and Future Introduction In recent years, the need for financial education has gained the attention of a wide range of entities including banking companies, government agencies, grassroots consumer and community interest groups, universities, schools, and other or
2、ganizations. Numerous factors have led to a complex, specialized financial services marketplace that requires consumers to be actively engaged if they are to manage their finances effectively. The forces of technology and market innovation, driven by increased competition, have resulted in a sophist
3、icated industry in which consumers are offered a broad spectrum of services by a wide array of providers. Other important demographic and market trends contributing to concerns include increased diversity of the population, resulting in households that may face language, cultural, or other barriers
4、to establishing a banking relationship； expanded access to credit for younger populations； and increased employee responsibility for directing their own investments in employersponsored retirement and pension plans. The prevailing concern is that consumers lack a working knowledge of financial conce
5、pts and do not have the tools they need to make decisions most advantageous to their economic wellbeing. Financial decisions made by consumers affect an individuals or familys current financial wellbeing and ability to save for longterm goals such as buying a home, seeking higher education, or finan
6、cing retirement. In addition, the consumer decisions also play an important role in the overall economic health of the nation, as was experienced through the recent economic crisis. Most recent economic issues such as credit card debt, home foreclosures, reduced savings, declining values of investme
7、nts, the collapse of the subprime lending market, and escalating numbers of personal bankruptcy have focused the nations attention on the importance of financial education. Technological advances have transformed nearly every aspect of the marketing, delivery, and processing of financial products an
8、d service. The forces of technology and market innovation, driven by increased competition, have resulted in a sophisticated industry in which a wide array of providers offers consumers a broad spectrum of financial products and services. These developments have given consumers more options and grea
9、ter flexibility in creating financial arrangements that best suit their needs. However, a complex and specialized financial services marketplace requires consumers to be informed and actively engaged if they are to manage their finances effectively. While there are many causes to the economic proble
10、ms facing the country, it is undeniable that a lack of financial education is a contributing factor. Far too many Americans entered into home and other loan agreements that they did not understand and ultimately could not afford. More broadly, the lack of basic skills such as how to create and maint
11、ain a budget, understand credit, or save for the future are preventing millions of Americans from taking advantage of our vibrant economic system. Financial education is not an issue unique to any one population. It affects everyonemen and women, young and old, across all racial and socioeconomic li
12、nes (U.S. Department of the Treasury, Office of Financial Education, 2008). Under these circumstances, there is a renewed attention to personal finance education. This subject matter is currently gaining attention from various quarters of society, such as academia, government, corporations and nonpr
13、ofit organizations. There is an increasing recognition of the importance of this area within several academic quarters, such as economics and finance, that were traditionally not involved in this subject matter. One of the challenges, with increased interest from diverse programs, is the loss of foc
14、us on the family and more of a concentration on individual decision making. Financial education programs are now being referred to by a variety of names, the most frequently used name being “financial literacy”； however, the term financial literacy means different things to different people. There i
15、s no national standard that describes the expectations of a course labeled “financial literacy” regarding the core content, core competencies, assessment of the impact, and professional preparation of the teacher. This paper briefly reviews the history of personal finance and then looks at the curre
16、nt status of the personal financial discipline and education before identifying challenges and opportunities for the future. In the final section, steps necessary to strengthen the future of this discipline are also presented. Personal Finance: An Interdisciplinary Approach Personal finance has its
17、roots in economics, finance and management and incorporates general principles of decision making and the management of financial resources of the individual and family. It involves application of principles from a variety of disciplines such as economics, sociology, psychology, adult learning, and
18、counseling to the study of ways that individuals, families, and households acquire, develop, and allocate monetary resources to meet their current and future financial needs. In the dynamic system of personal finance, decision makers are central. They influence and are influenced by various factors
19、both in external and internal environments. This includes financial markets and institutions； government agencies； economic, demographic, and social trends； and personal and family factors. Personal finance encompasses tools such as financial statements, checking and savings accounts, debt instrumen
20、ts, mortgages and investment vehicles. It also includes techniques related to cash flow management； risk assessment and management； and planning of taxes, retirement, and estates (Schuchardt et al. 2007). Financial Education in the Current Economic Environment Currently a great deal of attention is
21、being drawn to this area from public, private, profit and nonprofit entities. As concerns about consumers financial capability have increased, so too have the number and variety of financial education programs and program providers. However, some programs offer comprehensive information on a variety
22、 of topics for a broad audience, including savings, credit, risk management, investments, retirement planning and similar topics. Others are focused on a single topic such as credit management, retirement planning, and investing； and they are tailored to a specific group, such as youth, women, or minorities (Braunstein and Welch, 2002). Many are providing financial education to students, employees, customers, the general public and more； and most of these educational efforts are
