One result of the recent financial crisis has been an increased interest in financial literacy. Financial literacy is desire to be forwarded of any approaching situations and thereby avert damage to one’s own finances. In the developed world the means to assimilate these skills are readily available, but in the developing world, particularly in rural areas, this is hampered not only by questions of cost but also lack of access to universities or professional institutions. In Mongolia, for example, the more remote villages have the less chance of connection to the internet. Unfortunately, it is in these areas, where the local economy is fragile and survival precarious that financial literacy is most important. This is national development issue as aims of government are adversely affected by a financially illiterate population, which affects on increase of poverty of the country. In this point, it is an essential to find a right learning method of financial literacy for rural people, indeed the research aims to define the best way by view of rural people in Mongolia. The data bases on questionnaire and focus group interview conducted among rural people concentrated on current methods.
The main argument of this paper is that members of the savings and credit cooperatives use financial services in everyday personal or family life to manage their personal or household finances. Hence the best learning methods could be via savings and credit cooperatives. The findings have important implication for policy makers and international organizations with an interest in the promotion of financial security among rural population.
