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Financial Literacy and Financial Education: An Overview

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  • Kaiser, Tim

    (University of Kaiserslautern)

  • Lusardi, Annamaria

    (Stanford University)

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

  • Kaiser, Tim & Lusardi, Annamaria, 2024. "Financial Literacy and Financial Education: An Overview," IZA Discussion Papers 16926, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp16926
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    More about this item

    Keywords

    financial education; financial literacy; financial behavior;
    All these keywords.

    JEL classification:

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

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