Financial literacy, sometimes under the umbrella of financial wellness, is the understanding of financial concepts – like interest rates, student loans, credit scores and budgeting – and how your personal finances work. Not having an understanding of some of these concepts can result in negative...
Financial literacy, sometimes under the umbrella of financial wellness, is the understanding of financial concepts – like interest rates, student loans, credit scores and budgeting – and how your personal finances work. Not having an understanding of some of these concepts can ...
Financial literacy The 2015 CHFS included three questions on financial literacy. These questions are related to interest rates, inflation, and risk diversification (see the Online Appendix for details). Following van Rooij et al. (2011), we generate two measures of financial literacy based on how...
Literacy RateFinancial LiteracyFinancial Literacy RateIndiaThis paper aims to analyse the state-wise impact of literacy rates on the financial literacy rates in India. The OECD defines financial education as, "the proceSocial Science Electronic Publishing...
"When it comes to financial literacy, women are often forgotten," according to Certified Financial Planner™ Patricia Stallworth. "Yet we know the wealth gap is real." For Financial Literacy Month, GOBankingRates worked to empower people to mak...
In 1997, a baseline measure of the personal financial literacy of American high school seniors was taken through an examination of 1,532 students in the 1997 Personal Financial Survey of High School Seniors.1 The results of this nationally-representative
load. Debt-illiterate borrowers usually struggle with transacting in high-cost ways (paying fees and borrowing at high interest rates) and end up borrowing more but saving less (Galariotis & Monne,2023). Meanwhile, adults with higher debt literacy are less likely to be over-indebted (...
63% of Black Americans under the age of 40 now participate in the stock market, equal to their white counterparts. Ownership rates of 401(k) plans are now similar between Black and white Americans (53% vs. 55%). White 401(k) plan participants put 26% more per month toward their retire...
The nation's bankruptcy and home mortgage foreclosure rates rate have continued to climb despite improving employment opportunities, rapid growth in the nation's income and bankruptcy reform aimed at making bankruptcy filing less necessary and more difficult. America's personal savings rate hovers in ...
banking access. Digital currencies also offer financial privacy and autonomy, empowering individuals to manage their finances without third-party involvement, and providing an alternative store of value and means of exchange for those in countries with unstable financial systems or high inflation rates. ...