- Kaiser, T., Lusardi, A., Menkhoff, L., & Urban, C. (2022). Financial education affects financial knowledge and downstream behaviors. Journal of Financial Economics, 145(2a), 255-272. https://doi.org/10.1016/j.jfineco.2021.09.022
- Evaluations of financial education programs have shown positive benefits for participants, such as developing the knowledge and skills to make wise financial decisions. However, programs can vary extensively in terms of specific aims (e.g., improve knowledge, change financial behaviors) and type (e.g., classroom, online program). This meta-analysis of 76 randomized controlled trials of financial education programs examined the aggregate effects of financial education programs on participants’ financial knowledge and financial behaviors. In general, participation in these programs increased individuals’ financial knowledge and improved their financial behaviors (e.g., saving).
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