Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

Kaiser, Tim; Menkhoff, Lukas

doi:10.1596/31469

Cited by 38 publications

(64 citation statements)

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“…Evidence of the effects of financial education remains mixed (Fernandes et al, 2014;Miller et al, 2015;Kaiser and Menkhoff, 2017). Comparisons are difficult because program design and quality vary based on user type, objectives, content, channel, intensity, and duration, to name a few.…”

Section: Introductionmentioning

confidence: 99%

“…Regardless, some lessons have emerged as meta-analytic reviews have incorporated more experimental evidence and adopted more rigorous analytic methods. Financial education has been shown to increase knowledge, savings, and record-keeping, domains in which the user has more control, compared to debt (Miller et al, 2015;Kaiser and Menkhoff, 2017). Consistent impact is harder to create among lower-income participants in developing countries as well as among higher-income users in more developed countries (Kaiser and Menkhoff, 2017).…”

Section: Introductionmentioning

confidence: 99%

“…Financial education has been shown to increase knowledge, savings, and record-keeping, domains in which the user has more control, compared to debt (Miller et al, 2015;Kaiser and Menkhoff, 2017). Consistent impact is harder to create among lower-income participants in developing countries as well as among higher-income users in more developed countries (Kaiser and Menkhoff, 2017). Studies reveal that the number of hours of program exposure, i.e., intensity, relates to impact (Miller et al, 2015;Kaiser and Menkhoff, 2017).…”

Section: Introductionmentioning

confidence: 99%

“…Consistent impact is harder to create among lower-income participants in developing countries as well as among higher-income users in more developed countries (Kaiser and Menkhoff, 2017). Studies reveal that the number of hours of program exposure, i.e., intensity, relates to impact (Miller et al, 2015;Kaiser and Menkhoff, 2017). Despite evidence of a financial literacy gender gap favoring males, differential impacts by gender have not been found (Kaiser and Menkhoff, 2017), (Bucher-Koenen et al, 2017).…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Freeing Financial Education via Tablets: Experimental Evidence from Colombia

Attanasio

Bird²,

Cardona-Sosa

et al. 2019

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for research assistance at the Universidad del Pacífico. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Freeing Financial Education via Tablets: Experimental Evidence from Colombia

Attanasio

Bird²,

Cardona-Sosa

et al. 2019

View full text Add to dashboard Cite

show abstract

“…For example, an early meta-analysis of financial education intervention found small effects on actual outcomes (Fernandes et al, 2014). In a more recent meta-analysis, Kaiser and Menkhoff (2017) find evidence that is more positive for proponents of financial literacy interventions. Our paper contributes to this literature by conducting a randomized experiment whereby a financial education intervention can be evaluated on the basis of outcomes that are theoretically well-founded and lend themselves to welfare calculations.…”

Section: Introductionmentioning

confidence: 99%

Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?

Boyer¹,

d’Astous²,

Michaud³

2019

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We conduct a stated-choice experiment to analyze the decision to contribute to front-or back-loaded tax-sheltered savings accounts. Our experimental design includes a randomized financial education treatment that provides information on the two types of accounts. We assess whether respondents learn about the tax implications of these accounts, and whether they make better contribution choices when exposed to the financial education intervention. We find that, relative to a control group, our intervention improves both the understanding of the tax implications of the savings accounts (an increase of 6 to 15 points on a score of 100) and the quality of contribution decisions, improving the well-being of respondents by about 140$ in each scenario presented to them.

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Undergraduate financial knowledge, attitudes, and behaviors: The impact of financial life skills course on college students

Robb

Chy

2023

Fin Plan Rev

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It is increasingly common for universities to offer financial education or life skills courses as electives. However, less is known about the potential impacts of these courses on factors beyond financial literacy, such as financial attitudes, financial stress, or financial well‐being. Our study explores these topics using a unique sample of 370 undergraduate students, half of whom opted to enroll in and complete a financial life skills course and half of whom did not. We explore various aspects of student financial life, including well‐being, stress, self‐efficacy, knowledge, behavior, and socialization. Evidence from our study did not suggest that a single‐credit financial life skills course has much impact on financial well‐being or financial stress. There were notable impacts associated with financial socialization and financial self‐efficacy that reinforce some earlier explorations of financial well‐being.

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Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

Cited by 38 publications

References 0 publications

Freeing Financial Education via Tablets: Experimental Evidence from Colombia

Freeing Financial Education via Tablets: Experimental Evidence from Colombia

Tax-Sheltered Retirement Accounts: Can Financial Education Improve Decisions?

Undergraduate financial knowledge, attitudes, and behaviors: The impact of financial life skills course on college students

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