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Financial Literacy and Financial Education: An Overview

Author

Listed:
  • Tim Kaiser
  • Annamaria Lusardi

Abstract

This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic correlates of financial literacy. We next cover the evidence on the effects of financial literacy on financial behaviors and outcomes. Finally, we review the evidence on the causal effects of financial education programs focusing on randomized controlled trial evaluations. The article concludes with perspectives on future research priorities for both financial literacy and financial education.

Suggested Citation

  • Tim Kaiser & Annamaria Lusardi, 2024. "Financial Literacy and Financial Education: An Overview," NBER Working Papers 32355, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32355
    Note: AG
    as

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    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy

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