Behavioral economics and its concept of nudges are rapidly influencing the design of community-based financial education programs. This article addresses why nudges can be useful tools for effective financial education, explains the different types of nudges introduced by behavioral economics research, presents evidence of their effectiveness from…

The authors use data from a finance-related theme park to explore how financial education changes investment, financing, and consumer behavior. Students were assigned fictitious life situations and asked to create household budgets. Some students received a 19-hour financial literacy curriculum before going to the park, and some did not. After…

In this paper we provide a comprehensive critical analysis of research that has investigated the impact of financial education programs on consumer financial behavior. In light of the evidence, we recommend that future programs be highly targeted towards a specific audience and area of financial activity (e.g. home-ownership or credit card…

Earning, spending, saving and investing, and using credit are important aspects of money management that teens need to understand as they move into adulthood. Family and consumer sciences (FCS) professionals have a long history of addressing this important life skill. This brief article describes the High School Financial Planning Program (HSFPP),…

In August 2005, the National Endowment for Financial Education® (NEFE®) hosted a groundbreaking event, bringing educators from a variety of disciplines together to explore how to make financial literacy programs more effective. This was the first symposium ever to combine financial educators with leaders from other fields--neuroscience, change…

Examines the effectiveness of the Cooperative Extension Service effort in financial planning and management. Results show that the home economics extension programs on family financial management had a substantial impact on participants. (JOW)