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Author: Lauren E. Willis
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
“Financial education” typically is used to refer to what might more accurately be called personal money management education. As conventionally conceived, it includes teaching information and skills directly related to saving, spending, investing, borrowing, insurance, remittances, and taxes, and planning or managing each of these. Many believe that this kind of financial education improves personal financial behavior and that this leads to increased financial well-being. But does financial education do this? Can it? Do we have any better alternatives for improving people's financial lives? The main points of the chapter are three-fold. First, financial education cannot produce financial well-being in the current marketplace. Second, alternative interventions have the potential to enhance individual capacity for, and reduce marketplace obstacles to, good financial outcomes. Third, even programs that arm individuals with optimized capacities and a marketplace that facilitates individually optimal actions will not be enough to ensure widespread financial well-being. That would require changes in our socioeconomic order that might require a different intervention--finance-informed citizenship education.
Author: Lauren E. Willis
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
“Financial education” typically is used to refer to what might more accurately be called personal money management education. As conventionally conceived, it includes teaching information and skills directly related to saving, spending, investing, borrowing, insurance, remittances, and taxes, and planning or managing each of these. Many believe that this kind of financial education improves personal financial behavior and that this leads to increased financial well-being. But does financial education do this? Can it? Do we have any better alternatives for improving people's financial lives? The main points of the chapter are three-fold. First, financial education cannot produce financial well-being in the current marketplace. Second, alternative interventions have the potential to enhance individual capacity for, and reduce marketplace obstacles to, good financial outcomes. Third, even programs that arm individuals with optimized capacities and a marketplace that facilitates individually optimal actions will not be enough to ensure widespread financial well-being. That would require changes in our socioeconomic order that might require a different intervention--finance-informed citizenship education.
Author: Beata Świecka
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110636956
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
It is a well-known saying that money does not buy happiness. But it certainly helps in life. It is important to have enough of it to satisfy our needs and to secure ourselves from emergency situations. That's what adults think. And what about the youth? What is their approach to money, what do they know about finances and how are their skills in everyday financial management coming along? What kind of knowledge and skills should be provided? Do young people in different countries represent similar or different approaches to financial matters? Using the results of a research on young people in Poland and Germany, the authors draw a picture of financial literacy. They furthermore present a number of recommendations that help developing the knowledge and the financial skills of young people in practice.
Author: John O.S. Wilson
Publisher: Taylor & Francis
ISBN: 1000404528
Category : Business & Economics
Languages : en
Pages : 161
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Book Description
A growing body of evidence suggests that financial literacy plays an important role in financial well-being, and that differences in financial knowledge acquired early in life can explain a significant part of financial and more general well-being in adult life. Financial technology (FinTech) is revolutionizing the financial services industry at an unrivalled pace. Views differ regarding the impact that FinTech is likely to have on personal financial planning, well-being and societal welfare. In an era of mounting student debt, increased (digital) financial inclusion and threats arising from instances of (online) financial fraud, financial education and enlightened financial advising are appropriate policy interventions that enhance financial and overall well-being. Financial Literacy and Responsible Finance in the FinTech Era: Capabilities and Challenges engages in this important academic and policy agenda by presenting a set of seven chapters emanating from four parallel streams of literature related to financial literacy and responsible finance. The chapters in this book were originally published as a special issue of The European Journal of Finance.
Author: Melody Harvey
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Over one-quarter of American adults used credit-based alternative financial services (AFS) in the past five years, which carry a typical APR of 300 percent. Young adults are especially more likely to use AFS yet are also more likely to be exposed to personal finance education in schools. In this study, I use data from pooled 2012 and 2015 waves of National Financial Capability Study to examine whether state-mandated financial education impacts young adults' use of AFS. I find that financial education mandates significantly reduced the likelihood and frequency of payday borrowing in particular. Additionally, I show that exposure to required personal finance courses could affect payday borrowing through increased financial literacy and improved financial planning practices. These findings suggest that policymakers and other stakeholders need to understand the full benefits of financial education when making cost-benefit analysis comparisons as to whether or not to implement.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264012575
Category :
Languages : en
Pages : 181
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Book Description
This book describes the different types of financial education programmes currently available in OECD countries, evaluates their effectiveness, and makes suggestions to improve them.
Author: Gianni Nicolini
Publisher: Routledge
ISBN: 1000487849
Category : Business & Economics
Languages : en
Pages : 560
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Book Description
Financial literacy and financial education are not new topics, even though interest in these topics among policymakers, financial authorities, and academics continues to grow. The Routledge Handbook of Financial Literacy provides a comprehensive reference work that addresses both research perspectives and practical applications to financial education. This is the first volume to summarize the milestones of research in financial literacy from multiple perspectives to offer an overview. The book is organized into six parts. The first three parts provide a conceptual framework, which discusses what financial literacy is, how it should be measured, and explains why it represents a relevant topic and effective tool in enhancing decision-making among consumers as well as consumer protection strategies. Part IV addresses the connection between financial education and financial literacy, with chapters about financial education in school settings as well as for adults. This part includes an analysis of the role of Fintech and the use of gamification in financial education. Part V is a collection of contributions that analyze financial literacy and financial education around the world, with a focus on geographical areas including the U.S., South America, Western Europe, Eastern Europe, Asia, and Africa. This part also considers how financial literacy should be addressed in the case of Islamic finance. The concluding part of the book examines how financial literacy is related to other possible approaches to consumer finance and consumer protection, addressing the relationships between financial literacy and behavioral economics, financial well-being, and financial inclusion. This volume is an indispensable reference for scholars who are new to the topic, including undergraduate and graduate students, and for experienced researchers who wish to enrich their knowledge, policymakers seeking a broader understanding and an international perspective, and practitioners who seek knowledge of best practices as well as innovative approaches.
Author: Tim Hale
Publisher: Pearson UK
ISBN: 027378966X
Category : Business & Economics
Languages : en
Pages : 293
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Book Description
Author: Cindy Couyoumjian
Publisher: Greenleaf Book Group
ISBN: 1626347417
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
Redefining and Reclaiming Financial Literacy As a certified financial planner with thirty-five years of industry experience, Cindy Couyoumjian is committed to filling the financial literacy void for many Americans. In her timely and thought-provoking book, Cindy gives a unique macro perspective of what she calls “the hidden forces behind your money,” which are the unseen political and economic forces that may influence your investment decisions. Through meticulous research, Cindy shows how these hidden forces have contributed to a complex retirement system, which includes pensions, social security, and what she believes is the outdated 60/40 investment model. To address this issue, Cindy spent endless hours developing a new multi-asset class investment methodology, known as the REALM model, that may offer broader investment strategies aimed to mitigate risk from the hidden forces that may negatively impact your goals. Redefining Financial Literacy can help you • Understand the complex macro forces that you cannot control, yet could determine your financial future, • Take actionable steps to regain command of your retirement strategy, • Build a retirement with potential durable income strategies, lesser volatility, and risk-adjusted returns. Redefining Financial Literacy and Cindy’s innovative REALM model can open your eyes to investment possibilities while helping you regain confidence in the American dream. Diversification does not guarantee profit nor is it guaranteed to protect assets. There is no assurance that any strategy/model will achieve its objectives. Registered Principal offers securities and advisory services through Independent Financial Group, LLC (IFG), a Registered Investment Adviser. Member FINRA/SIPC. IFG, Cinergy Financial, and Greenleaf Book Group are not affiliated companies.
Author: Helaine Olen
Publisher: Penguin
ISBN: 0698186656
Category : Business & Economics
Languages : en
Pages : 163
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Book Description
“The newbie investor will not find a better guide to personal finance.” —Burton Malkiel, author of A RANDOM WALK DOWN WALL STREET TV analysts and money managers would have you believe your finances are enormously complicated, and if you don’t follow their guidance, you’ll end up in the poorhouse. They’re wrong. When University of Chicago professor Harold Pollack interviewed Helaine Olen, an award-winning financial journalist and the author of the bestselling Pound Foolish, he made an offhand suggestion: everything you need to know about managing your money could fit on an index card. To prove his point, he grabbed a 4" x 6" card, scribbled down a list of rules, and posted a picture of the card online. The post went viral. Now, Pollack teams up with Olen to explain why the ten simple rules of the index card outperform more complicated financial strategies. Inside is an easy-to-follow action plan that works in good times and bad, giving you the tools, knowledge, and confidence to seize control of your financial life.
Author: Carmela Aprea
Publisher: Springer
ISBN: 9811003602
Category : Education
Languages : en
Pages : 708
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Book Description
This Handbook presents in-depth research conducted on a myriad of issues within the field of financial literacy. Split into six sections, it starts by presenting prevalent conceptions of financial literacy before covering financial literacy in the policy context, the state and development of financial literacy within different countries, issues of assessment and evaluation of financial literacy, approaches to teaching financial literacy, and teacher training and teacher education in financial literacy. In doing so, it provides precise definitions of the construct of financial literacy and elaborates on the state and recent developments of financial literacy around the world, to show ways of measuring and fostering financial literacy and to give hints towards necessary and successful teacher trainings. The book also embraces the diversity in the field by revealing contrasting and conflicting views that cannot be bridged, while at the same time making a contribution by re-joining existing materials in one volume which can be used in academic discourse, in research-workshops, in university lectures and in the definition of program initiatives within the wider field of financial literacy. It allows for a landscape of financial literacy to be depicted which would foster the implementation of learning opportunities for human beings for sake of well-being within financial living-conditions. The Handbook is useful to academics and students of the topic, professionals in the sector of investment and banking, and for every person responsible for managing his or her financial affairs in everyday life.
