It is worth emphasising again that the success of financial education programmes largely depends on people’s awareness of their level of financial literacy and of the enormous impact this will have on their medium-to-long term well-being.
People who are aware that their level of financial literacy is low may be more receptive to educational programmes and proactively strive to acquire the information and knowledge they need. Financial educators should use mass media and effective communication strategies to develop such awareness. Knowledge of the costs associated with short-sighted financial decisions is also very important.