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Working Paper
Increasing financial capability among economically vulnerable youth: MY Path
The Make Your Path (MY Path) initiative provides disadvantaged youth with peer-led financial capability trainings, a savings account at a mainstream financial institution and incentives to set and meet savings goals. The program focuses on youth earning their first paycheck?a critical ?teachable moment? to promote savings and connect youth with mainstream financial products. In 2011-12, Mission SF Community Financial Center (Mission SF) tested MY Path by delivering its suite of services to ten agencies participating in San Francisco?s largest youth employment program, the Mayor?s Youth ...
Working Paper
Aging and strategic learning: the impact of spousal incentives on financial literacy
American women tend to be less financially literate than men, which is consistent with a household division of labor in which men manage finances. However, women also tend to outlive their husbands, so they will eventually need to take over this task. Using a new survey of older couples, I find that women acquire financial literacy as they approach widowhood. At an estimated increase of 0.04 standard deviations per year approaching widowhood, 80 percent of women in the sample would catch up with their husbands prior to the expected onset of widowhood. These findings reflect actual increases ...