Although the U.S has been performing and embracing capitalism and free markets for two centuries, it is not too far ahead of developing economies concerning the personal finances of citizens, but according to Time’s Dan Kadlec you can change that with education.

“Nations that get this right the quickest stand to gain an economic advantage through, among other things, better household debt management and long-term savings,” Kadlec wrote. “That’s worth remembering amid the clamor of critics who view personal finance as largely unlearnable and financial education as a waste of time, and prefer the Big Brother approach of stiffer regulation. I’ll take education and personal choice any time.”