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Financial Literacy in Italy: What works among millennials most?

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  • Alessia Sconti

    (Department of Economics (University of Verona))

Abstract

Nowadays, financial literacy is the most important skill required for tech-savvy millennials. We set up a financial education program called “Futuro Sicuro” on a sample of 650 high school students. This program provides two treatments at the class level, namely 1) a theoretical, rule-of-thumb based treatment with the presence of a financial advisor, and 2) a digitized treatment using an App and websites based on the learn-by-playing rule. The two treatments carry different costs but show similar effects: three weeks after their conclusion, they increase actual financial knowledge, aligning it with the self-assessed one. A follow-up study reveals the persistence of the effects three months later for the traditional course.

Suggested Citation

  • Alessia Sconti, 2020. "Financial Literacy in Italy: What works among millennials most?," Working Papers 01/2020, University of Verona, Department of Economics.
    • Handle: RePEc:ver:wpaper:01/2020
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    References listed on IDEAS

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