Financial Clarity: Education, Literacy, Capability, Counseling, Planning, and Coaching

Lucy M. Delgadillo

Family and Consumer Sciences Research Journal · 2014 · 45 citations · 6 references

Concepts

TL;DR

The paper reviews the definitions of financial education, literacy, capability, counseling, planning, and coaching, noting that these terms are often used interchangeably and that financial therapy will be discussed in a future work. The goal is to initiate dialogue about the meaning of these terms and their usage among educators, practitioners, and researchers. The authors present implications for research, training, and intervention programs to address the lack of clarity.

Abstract

This conceptual paper discusses the definitions of financial education, financial literacy, financial capability, financial counseling, financial planning, and financial coaching. Financial therapy is mentioned briefly but it will be addressed in a subsequent paper. Because the definitions of these concepts are not universally accepted, the terms are often used interchangeably. Therefore, the goal of the paper is to initiate dialogue about the meaning of the terms and their usage among educators, practitioners, and researchers. To relieve the lack of clarity, implications are presented for research, training, and intervention programs.

References

6