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The effects of financial literacy training: Evidence from a field experiment in German high schools

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  • Winter, Joachim
  • Lührmann, Melanie
  • Serra Garcia, Marta

Abstract

We report the results of a field experiment evaluating the impact of financial literacy training on teenagers between 14 and 16 years in German high schools. After the training, treated teenagers exhibit a significant increase in both interest in financial matters and self-assessed knowledge relative to the control group. We also find a strong decrease in the prevalence of impulse purchases after the training, suggesting that teenagers become more sovereign consumers. Our data reveals strong gender differences in financial matters already before adulthood: Girls show less interest in and self-assessed knowledge about financial matters, and are less likely to save. --

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Paper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79744.

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Date of creation: 2013
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Handle: RePEc:zbw:vfsc13:79744

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