This phenomenological study explored the perceptions and expectations of low income adults regarding financial literacy to discover ways to increase attendance in financial literacy programs designs for this cohort. The study utilized interviews with closed-ended questions to establish the participants' backgrounds, then opened-ended questions to…

This Data Point uses data from the 2012 administration of the Program for International Student Assessment (PISA) financial literacy assessment. PISA is an international assessment that measures 15-year-old students' reading, mathematics, and science literacy and, in 2012, general problem solving and financial literacy. PISA is coordinated by the…

The purpose of this quasi-experimental nonequivalent control group study was to determine the influence that a financial education intervention administered in First Year Experience courses had on students' perceptions of their financial behavior such as compulsive spending and credit card use. This study utilized the five-point Likert-type…

In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

This report features research on Stocks in the Future (SIF), a financial literacy program for middle-grades students. The goals of SIF are to serve underrepresented, socioeconomically disadvantaged students in schools where more than 50% are eligible for free/reduced-price meals, achieve stronger student attendance and greater attachment to…

High levels of student debt can hamper recent graduates as they start their adult lives and careers, influence their choice of job, location, or the decision to pursue further education (Asher 2009). At the same time, student loans are a vital source of financing for students looking to pursue higher education and, if managed appropriately,…

The So, You Want To Move Out?! program was developed to help teens explore the financial realities of moving away from home. This 3-day camp program allows youth the opportunity to interview for a job, work, earn a paycheck, and pay financial obligations. After paying expenses and trying to put some money away in savings, the participants begin to…

One central component of a great school system is a clear set of expectations, or standards, that educators help all students reach. In Iowa, that effort is known as the Iowa Core. The Iowa Core represents the statewide academic standards, which describe what students should know and be able to do in math, science, English language arts, and…

The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally…

"Creating a Financial Stake in College" is a four-part series of reports that focuses on the relationship between children's savings and improving college success. This series examines: (1) why policymakers should care about savings, (2) the relationship between inequality and bank account ownership, (3) the connections between savings…

High-stakes standardized tests in reading and limited instructional time are two powerful disincentives for teaching economics in the elementary classroom. In this article, integrating instruction in poetry and economic decision-making is presented as one way to maximize the use of scarce instructional time. Following a brief introduction to the…

The aim of this article is to extend our understanding of the relationship between knowledge of personal finance and empowerment. The analysis is based on interview data obtained as part of a longitudinal study of students, aged 16-19, who completed a financial capability course in the UK. The analysis presents a set of cultural models or…

Financial literacy--the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being--is becoming more and more important as individuals and families become increasingly responsible for their own long-term financial well-being. Financial and economic literacy education programs have been…

There is persistent evidence of poor levels of financial literacy in a number of sectors of the Australian community. Young people, in particular, tend to fare badly in studies of financial literacy levels. A recent study commissioned by the Commonwealth Bank Foundation found that 16-25 year-olds constitute 42% of the bottom quartile, and only 4%…

This document provides guidance on effective practice in delivering personal finance education in secondary schools. It is based on the findings from research carried out by NFER (the National Foundation for Educational Research) on behalf of pfeg (Personal Finance Education Group) as part of an evaluation of Learning Money Matters (LMM). This…