In 2009, the National Endowment for Financial Education initiated a project to study the "Implications of a Quarter Century Research in Personal Finance." As part of that effort, one of the major themes chosen was to study the measurement and evaluation of participant outcomes. This paper is...

We review the history of financial literacy, as it applies to public company audit committees; we report on a financial literacy quiz that we have given to over 1,400 members of corporate boards, not all audit committee members. We develop a classification to score the potential of corporate...

Research seeking to understand financial literacy and to enhance it through training or education is receiving greater attention and emphasis from policymakers. Unfortunately, relatively little of this research has focused on insurance products and consumers. This policy brief reviews what is...

This paper asks whether personal financial management education is an effective mechanism for helping lower-income households accumulate financial assets and improve credit histories. The paper argues that the best existing studies of the effectiveness of financial literacy initiatives suggest...

Financial literacy has assumed greater importance in our society as the result of the increasing complexity of financial products and the simultaneous cutting of economic safety nets by government, employers and even parents who worry about their own retirements. If the problem isn’t solved...

The purpose of this study is to examine associations among financial education, financial knowledge, and risky credit behavior of college students. Using data from a sample of first-year college students, we found evidence that taking personal finance courses in high school and college is...

College students are facing a number of financial challenges, including rising college costs and subsequent escalation in student borrowing to finance their education. Financial aid has not kept pace with rising college costs, and fewer parents are helping to cover these costs, because they...

This study uses a combined measure of financial literacy or financial knowledge that includes both a test score of actual financial knowledge and a self-assessment of overall financial knowledge. The combined measure provides greater understanding about how financial knowledge affects financial...