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On My Own: Boosting Financial Literacy Among Disadvantaged Youth in Peru

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  • Chris M. Boyd
  • Jaime Ramos Duffaut

Abstract

Young adults can greatly benefit from financial education because they are starting to earn money and manage their personal finances. We use a randomised control trial to estimate the impacts of #PorMiCuenta (#OnMyOwn), an online asynchronous edutainment‐based financial education program, on financial literacy among poor post‐secondary scholarship recipients. We find this program has a large take‐up (74%) and it improves financial knowledge (by 19.7 percentage points (p.p.)), abilities (22.8 p.p.), attitudes (23.7 p.p.), and behaviour (16.5 p.p.). Our findings suggest this type of financial education approach can be very effective and useful for targeting disadvantaged young adults.

Suggested Citation

  • Chris M. Boyd & Jaime Ramos Duffaut, 2025. "On My Own: Boosting Financial Literacy Among Disadvantaged Youth in Peru," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 87(5), pages 942-951, October.
    • Handle: RePEc:bla:obuest:v:87:y:2025:i:5:p:942-951
    DOI: 10.1111/obes.12662
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