Author ORCID Identifier

Jamie Wagner

Document Type

Article

Publication Date

2019

Publication Title

Journal of Financial Counseling and Planning

Volume

30

Issue

1

First Page

132

Last Page

141

Abstract

This study examines associations between financial education and financial literacy among people with different levels of education and income using a large, national data set, the 2015 National Financial Capability Study. This study estimates whether financial education in high school, college, or through an employer, is associated with a person 's financial literacy score. Results show that people who received any financial education are likely to have higher financial literacy scores compared to those without financial education. Financial education has larger predicted probabilities for those with lower education and income, suggesting that financial education is especially important for this demographic group. This research emphasizes a need to teach financial education to people whom previous research suggests lacks financial literacy the most.

Comments

© 2019 Journal of Financial Counseling and Planning. The published version of the article can be found here - DOI:10.1891/1052-3073.30.1.132.

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