What’s missing? Planning is important, being
careful with spending, anticipating bills, saving for specific projects, taking debt
seriously, all these are important … but isn’t there something missing in the rational
financial literate individual model? Money changes hands; it flows from people to people,
accumulating here, running out there. By focusing only on individuals (at best, couples), financial
education assumes we are alone – and moved only by selfish interest. But what value would
money have if we were all alone? Isn’t money only a social convention, a tool to exchange,
based on trusting each other? What if, instead of focusing on individuals, financial education
focuses on how money circulates between us? On relations rather than just rationality?
On responsibility and accountability rather than on growth and accumulation?