Financial education has always been important for consumers in helping them budget and manage their income, save and invest efficiently, and avoid becoming victims of fraud. But the importance of financial education has increased in recent years as a result of both financial market developments and demographic, economic and policy changes. Capital markets are becoming more sophisticated and new products are continuously offered, including hybrid instruments whose risk-return characteristics are not immediately discernible. Consumers now have greater access to a variety of credit and savings instruments provided by a range of entities from on-line banks and brokerage firms to community based groups offering counselling and financing aid to low and moderate-income families. They can now use automated teller machines (ATMs) and personal computers to handle ...