Abstract
An alternative perspective of financial literacy questioned the conceptual legitimacy of sustained personal fulfillment through maximization of financial net worth. In this alternative view, a focus on financial assets and their accumulation constitutes an activity of objectification that perceives other individuals as vehicles for personal social advancement, rather than stories or narratives of themselves. This paper argues that a critically compassionate approach to financial literacy represents a moral pursuit. It begins with the claim that human nature is both controlling and compassionate, and that this dual nature informs about the meaning of financial literacy. From this position, it considers what it may mean to be moral in this context and extending that conception to understandings of financial practice. Finally, it asserts broadening interpretations of financial literacy to include compassionate practices represent a moral consideration.
Highlights
The personal financial literacy of children and youth represents an education topic of increasing national and international interest [1,2]
This paper adds to the conversation by suggesting that a compassionate approach to financial literacy represents a moral pursuit founded on a holistic interpretation of human nature
I have argued that traditional approaches to financial literacy education offer a curriculum founded on an incomplete interpretation of human nature
Summary
The personal financial literacy of children and youth represents an education topic of increasing national and international interest [1,2]. Agnello, and Laney [4] offered an alternative perspective of financial literacy that questioned whether sustainable personal fulfillment could occur through maximization of financial net worth. This alternative upheld an approach that prompted a compassionate sense of personal self-worth, resisting the traditional focus on assessing accumulation. This paper adds to the conversation by claiming that the ideology that undergirds one’s perspective of financial literacy represents a moral consideration It interprets financial literacy from a holistic interpretation of human nature that involves both material and spiritual grounding of control and compassion
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