Financial Literacy Can Improve General Well-being: MIDE

Q: What principles lead the Museo Interactivo de Economía’s (MIDE) approach to financial education?

A: We use everyday life as our primary communication tool. This approach has been a fundamental design principle since the museum was first conceived. From the beginning, we established a core rule where all content must be connected to everyday life. By grounding our content in real-life experiences, we give meaning to economic and financial concepts. This principle was essential when we designed MIDE as the world’s first interactive economics museum, and it is one of the key reasons for its success.

However, while the principle remains the same, everyday life itself has changed dramatically. It is dynamic and constantly evolving. If we want to remain relevant and meaningful over time, we must continuously observe how people live, how they learn, and how they engage with information. Our primary audience, young people between the ages of 15 and 25, represents generations whose learning styles, interests, and behaviors differ significantly from previous ones. Our role is to adapt our content to reflect contemporary realities while remaining faithful to our educational philosophy. It must also allow visitors to identify with the content emotionally and personally, linking the museum to true lifelong learning. 

Museums have a unique ability to create transformative experiences. When visitors feel a sense of connection with what they see, their experience becomes more than informational; it becomes intimate and meaningful. That transformation is one of our most important goals.

Q: Financial education remains a major gap in Mexico. How does MIDE approach financial education differently, particularly in helping people understand both personal finance and broader economic concepts?

A: Financial education is extremely important. Research shows that people with financial education experience higher levels of well-being, regardless of their income level. Whether someone is wealthy or has limited resources, financial knowledge improves their quality of life. However, at MIDE, we believe financial education cannot exist in isolation. It must be understood within its broader economic context. That is why we are a museum of economics, not simply a museum of personal finance, as it is impossible to teach personal finance effectively without first teaching people how to make decisions and why those decisions matter.

Every day, people make decisions under conditions of scarcity — scarcity of time, resources, opportunities, and money. When scarcity involves financial resources, it becomes a financial issue. But the underlying principle is always decision-making. By presenting financial concepts within realistic, everyday scenarios, visitors begin to recognize their relevance. Our goal is to help visitors recognize that economics is not abstract and that it is something they experience constantly.

Q: How does MIDE make economic concepts, such as inflation or interest rates, accessible?

A: Museums are fundamentally different from classrooms. A museum is not a lecture space; it is a space for provocation. We do not aim to teach through instruction alone; we aim to provoke reflection and awareness. For example, instead of explaining the formal definition of opportunity cost, we present visitors with interactive decision-making scenarios. Visitors might choose between two options, such as organizing a celebration or taking a trip, and realize that choosing one option means giving up another. Through this experience, they internalize the concept naturally.

This type of learning creates lasting cognitive impact. Visitors may not immediately articulate the concept in technical terms, but later, when faced with real-life decisions, they recall the experience and apply the insight.

Q: How has financial education changed over the last few years in Mexico?

A: Over the past 20 years, financial education has become much more widespread. Concepts such as saving are now commonly promoted by banks and the media. Therefore, our role has evolved. We now incorporate insights from behavioral economics, which studies how psychological factors influence decision-making.

For example, instead of simply teaching people to save, we explore why people struggle to save. In one of our interactive experiences, visitors confront “zombies” that represent behavioral biases, such as impulse spending, emotional decisions, or social pressure. This creates a memorable experience that helps visitors understand their own behavior.

This is contemporary financial education: education that reflects real human psychology and real-life decision-making.

Q: One of the most powerful experiences at MIDE is the “financial secrets” installation, where visitors can anonymously share personal financial thoughts. Why is this emotional dimension important?

A: Financial issues are deeply connected to emotional well-being. Emotional health is one of the primary concerns for younger generations and society as a whole. As a museum, we have creative freedom that formal educational institutions do not. We can address financial topics from a technical perspective and from an emotional one. The “financial secrets” space allows visitors to express thoughts they might never share with anyone else. Putting those thoughts into words creates emotional release and self-awareness. It allows visitors to reflect on their financial realities from a new perspective.

Financial stress is one of the most significant sources of emotional distress. Therefore, addressing emotional health is an essential part of financial education.

Q: How does MIDE leverage apps and smartphones to increase access to financial education?

A: Our role is not to compete by becoming entertainment without substance. Instead, our goal is to make learning pleasurable and meaningful, to create experiences that visitors genuinely enjoy while maintaining intellectual depth. At the same time, we must embrace digital platforms. Social media platforms such as TikTok and Instagram are evolving into spaces where people actively seek meaningful content. We must participate in those ecosystems as content creators.

We are also redesigning our digital platform to become a comprehensive educational environment, not simply a website with logistical information. Our goal is to create a digital ecosystem that offers accessible, engaging educational experiences supported by modern technologies, including AI.

Q: Which audiences represent the greatest opportunity for financial education today?

A: Teachers are one of our most important audiences because they influence future generations. We are developing tools and resources — including AI-supported platforms — that provide teachers with preparation materials, guidance during visits, and follow-up activities. 

Entrepreneurs and small business owners are another critical group. As access to credit expands, it is essential that entrepreneurs understand how to use credit productively and responsibly. We are working to develop educational programs specifically for this audience.

Families are also extremely important. In many households, financial discussions are avoided due to cultural taboos or discomfort. This lack of communication can lead to poor financial decisions and financial stress. Promoting transparency, collaboration, and informed decision-making within families can significantly improve financial well-being.

Q: MIDE will soon celebrate its 20th anniversary. What does this milestone represent, and what can visitors expect?

A: The 20th anniversary is an opportunity to celebrate our visitors, our team, and the broader progress of financial education. First, we celebrate our public. Without our visitors, the museum would not exist. Their engagement has allowed us to become leaders in financial and economic education, both in Mexico and globally. Second, we celebrate our team. Innovation requires dedication, creativity, and hard work. This museum exists because of the extraordinary people who contribute to it. Third, we celebrate broader advances in financial education, including national efforts to integrate financial education into formal education systems.

We will also host events related to Global Money Week and special exhibitions exploring themes such as the economics of football and its influence on society in time for the 2026 FIFA World Cup.

Q: What is MIDE’s vision for the future?

A: Our future depends on innovation, which is not accidental; it is the result of continuous work, research, and curiosity. We must continue developing new educational methodologies, conducting research, and creating new ways to engage audiences. We envision MIDE as a center for educational innovation, a testing ground for new financial education methodologies, and a training hub not only for the public but also for educators themselves. We want to become a research-first museum to generate knowledge that can impact the country and the region. 

Ultimately, our mission is to help people live better lives by empowering them to make informed economic and financial decisions.