# Prof. Xavier Gabaix on the value of financial literacy

1 Faculty News October 11, 2012 ![](/sites/default/files/styles/246w/public/assets/images/con_038064.gif?itok=PQWPV8RL)>

Excerpt from [NerdWallet](http://www.nerdwallet.com/blog/markets/) -- "I think that some classes should be made mandatory in high school — high school rather than college, because it’s the least educated who need those classes the most. Finance is a somewhat novel and abstract field, and it should be learned. Some basic rules of thumb are pretty simple to learn, but they will go a long way towards avoiding catastrophic finances down the road."

[Read more](http://www.nerdwallet.com/blog/markets/)