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Working Paper
A literature review on the effectiveness of financial education
Martin, Matthew
(2007)
This survey summarizes current research on financial literacy efforts. Because most financial literacy programs are relatively new, much of the literature reviewed here is also new and part of a field that is still developing as a program of research. However, we can conclude that financial education is necessary and that many existing approaches are effective. Among the findings are that some households make mistakes with personal finance decisions; mistakes are more common for low income and less educated households; there is a causal connection between increases in financial knowledge and ...
Working Paper
, Paper 07-03
Speech
Opening remarks: a speech at the Federal Reserve Community Affairs Research Conference Financing Community Development, Washington, D.C., March 30, 2007
Plosser, Charles I.
(2007-03-30)
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, presented at the Federal Reserve Community Affairs Research Conference, Financing Community Development, Washington, D.C., March 30, 2007
Speech
, Paper 6
Speech
Welcoming remarks: a speech at the Federal Reserve System Town Hall Meeting with Educators, Washington, D.C., September 30, 2010
Bernanke, Ben S.
(2010)
Speech
, Paper 550
Speech
Improving the measurement of inflation expectations
Potter, Simon M.
(2012)
Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.
Speech
, Paper 84
Discussion Paper
Delivery of financial literacy programs
Rhine, Sherrie L. W.; Toussaint-Comeau, Maude
(2000)
A critical challenge faced by educators, community leaders and policy makers is to bring financial literacy and consumer education effectively to their constituencies. Based on the qualitative evidence gleaned from focus groups, we take a pragmatic approach in proposing ways to deliver financial literacy programs to adults. This article makes several suggestions for implementing financial literacy programs, from outlining important financial literacy and consumer education topics to discussing the logistics of using various method of outreach activities.
Consumer and Community Affairs Policy Studies
, Paper 2000-7
Working Paper
Does Salient Financial Information Affect Academic Performance and Borrowing Behavior among College Students?
Schmeiser, Maximilian D.; Stoddard, Christiana; Urban, Carly
(2015-09-10)
While rising student loan debt can plague college students future finances, few federal programs have been instituted to educate college students on the mechanics of student loan borrowing. This paper exploits a natural experiment in which some students received "Know Your Debt" letters with incentivized offers for one-on-one financial counseling. Montana State University students who reached a specific debt threshold received these letters; University of Montana students did not. We use a difference-in-difference-in-differences strategy to compare students above and below the thresholds ...
Finance and Economics Discussion Series
, Paper 2015-75
Working Paper
Bank accounts and youth financial knowledge: connecting experience and education
Choi, Laura
(2009)
Studies have shown that ?experiential learning? can result in significant knowledge gains in a number of subject areas, but how does ?learning by doing? fit into the context of financial education? This new working paper explores this topic and analyzes data from the 2008 Jump$tart survey of high school seniors to examine the relationship between bank account ownership and student knowledge of personal finance. The results are informative for financial education delivery, particularly the importance of providing interactive opportunities for the application and practice of skills and ...
Community Development Working Paper
, Paper 2009-07
Journal Article
Spotlight on Research: The Influence of Financial Literacy on High-Cost Borrowing
Smith, Marvin M.
(2015-04)
Two topics have gained widespread attention in recent years. One is the rapid growth of high-cost borrowing offered by the alternative financial services (AFS) industry, such as payday loans, pawn shops, auto title loans, refund anticipation loans, and rent-to-own stores. The other topic is the efficacy of financial literacy on improving the overall financial well-being of individuals. A study by Annamaria Lusardi and Carlo de Bassa Scheresberg explores the characteristics of those who use high-cost borrowing and the influence of financial literacy on their borrowing behavior.1 The following ...
Cascade
, Volume 2
Journal Article
Learning and growing: Lessons learned in financial education
Neiser, Brent; Beck, Ted
(2009-07)
Community Investments
, Volume 21
, Issue Sum
Journal Article
Kids Bank Encourages Early Saving in Fort Worth
Community Development, Federal Reserve Bank of Dallas
(2006)
A unique partnership between Unity One Federal Credit Union and Fort Worth's Washington Heights Elementary School created a "Kids Bank" that encourages savings and teaches children valuable financial skills that will benefit them for a lifetime.
e-Perspectives
, Volume 6
, Issue 4
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