Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5088661 | Journal of Banking & Finance | 2015 | 34 Pages |
Abstract
Many initiatives worldwide aim at improving financial literacy through targeted education programs, yet there is little evidence regarding their effectiveness. We examine the impact of a short financial education program on teenagers in German high schools. Our findings reveal that the training program significantly increases teenagers' interest in financial matters and their financial knowledge, especially their ability to properly assess the riskiness of assets. Behaviorally, we observe a decrease in the prevalence of self-reported impulse purchases, but at the same time find no evidence of a significant increase in savings.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Melanie Lührmann, Marta Serra-Garcia, Joachim Winter,