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Lusardi Helps Launch Federation of Savings Museums

The founders of the IFFM (L to R) are Andrea Beltratti, Museum of Saving in Italy; David Cowen, Museum of American Finance; Annamaria Lusardi of GWSB; and Wang Wei of the Chinese Museum of Finance.

The founders of the IFFM (L to R) are Andrea Beltratti, Museum of Saving in Italy; David Cowen, Museum of American Finance; Annamaria Lusardi of GWSB; and Wang Wei of the Chinese Museum of Finance.

GWSB Denit Trust Distinguished Scholar in Economics and Accountancy Annamaria Lusardi was among the financial literacy experts who launched the International Federation of Finance Museums (IFFM) last month in New York City.

The daylong conference that kicked off the federation was attended by leaders of finance, saving and money museums from around the world at the Museum of American Finance, an affiliate of the Smithsonian Institution.

The goal of the IFFM is to provide a framework for greater collaboration among finance museums in order to facilitate the sharing of exhibits, exchange of scholarship and scholarly research, and interchange of information and knowledge.

Lusardi, who is academic advisor to the Museum of Saving in Turin, Italy, which she helped unveil last summer, said museums about money and finance can elevate the importance of financial literacy in society. Lusardi is an advocate of greater financial education, beginning with lessons on savings and money management in schools.

“Just as it was not possible to live in an industrialized society without literacy – the ability to read and write – so it is not possible to live in today’s world without being financially literate,” she said.

The IFFM was conceived by the leadership of the Chinese Museum of Finance, the Museum of American Finance, the Museum of Saving in Italy and the Global Financial Literacy Excellence Center.  Representatives of finance museums in Chile, the Czech Republic, France, Greece, Mexico, The Netherlands and Poland, among others, also participated in the inaugural conference.

Posted by gwsb on July 23, 2013 | Filed under: GWSB News.


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