A lot of smart people have poured countless hours and resources into financial literacy programs over the years. Whether those programs target adults or children, the goal is to increase the financial literacy, and improve the financial habits, of those they teach.

However, a 2014 paper found that interventions to improve financial literacy have almost no impact on our behaviors. But how can that be?

This recent post from Get Rich Slowly tries to explain why financial literacy programs often fail. They spend far too much time on the specifics of how financial instruments work and not enough time on the actual human behaviors that drive financial success (or lack thereof).

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