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…

University of Idaho Extension educators have developed a library of 10 game-based personal finance programs, collectively known as the Northwest Youth Financial Education project, and have made these programs freely available for Extension educators to use. The purpose of this article is to share highlights from an associated train-the-trainer…

We investigated the effectiveness of an Extension-led training for human services providers on Your Money, Your Goals: A Financial Empowerment Toolkit, a resource developed by the Consumer Financial Protection Bureau. Results from pretests, posttests, and focus group research indicate that participants significantly increased confidence in their…

Financial knowledge is critical for making sound decisions that foster financial health and protect consumers from predation. A widely-used tool for building this capability is financial education. Yet evidence suggests that conventional approaches which teach concepts in classroom-style settings are ineffective and expensive at scale, especially…

This review discusses the heterogeneity in the effectiveness of financial education programs that occurs because of the unique conditions for programs and methods to evaluate them. The authors define six groups served by financial education: children, youth, college students and young adults, working adults, military personnel, and low-income…

This report features research on Stocks in the Future (SIF), a financial literacy program for middle-grades students. The goals of SIF are to serve underrepresented, socioeconomically disadvantaged students in schools where more than 50% are eligible for free/reduced-price meals, achieve stronger student attendance and greater attachment to…

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…

The Stock Market Game[TM] is an educational program supported by the Securities Industry and Financial Markets Association (SIFMA) Foundation for Investor Education. The program is designed to teach students the importance of saving and investing by building their financial literacy skills. The primary focus of the study was to measure the impact…

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…

The problem of financial illiteracy at the high school level is becoming a growing pandemic in America. The current financial curriculum may not be preparing high school students against reported financial pitfalls. At the study site, high school students graduate without financial skills that may impact their future financial status. The purpose…

This report presents the final findings of research carried out by the National Foundation for Educational Research (NFER), as part of an independent evaluation on behalf of pfeg, of the Learning Money Matters (LMM) initiative. LMM provides help, support and advice for secondary schools in delivering personal finance education (PFE) to their…

This report describes results of an initial investigation of the utility of a specially designed money management software program for improving management of personal checking accounts for individuals with mental retardation. Use with 19 adults with mental retardation indicated the software resulted in significant reduction in check writing and…

Reviews problems of the elderly consumer and describes efforts to provide consumer education to rural elderly individuals through two series of one-day workshops. Evaluations indicated that consumer education can be effectively provided to rural elderly with a high degree of perceived usefulness and sharing of information. (Author/JAC)

Assesses the degree to which clients completing the Money Sense program adopted its family resource management techniques. Finds that, among 190 low income clients from rural California counties and military bases, there were significant positive changes in food shopping and money management behaviors and significant decreases in financial…

The impact that financial education had on the financial behaviors of (a) the agency staff who were trained to deliver the program and (b) the low-income individuals who participated in the program was investigated. Specifically, the researchers examined the relationship between total number of financial education lessons completed, prior…