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

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.