The study examines data from two surveys—the 2015 National Financial Capability Study and the 2016 GFLEC Mobile Payment Survey—to provide insights on the financial capability of American Millennials who use mobile payments.
The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) measures knowledge and understanding which enable sound financial decision-making and effective management of personal finances among U.S. adults. The P-Fin Index was developed by the TIAA Institute and the Global Financial Literacy Excellence Center, in consultation with Greenwald & Associates. The 2018 survey was fielded online in January 2018 with a nationally representative sample of U.S. adults, ages 18 and older, and completed by 1,012 individuals. The P-Fin Index is an annual survey and the 2018 data represents the second wave of the P-Fin Index.
The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) measures knowledge and understanding which enable sound financial decision-making and effective management of personal finances. The P-Fin Index was developed by the TIAA Institute and the Global Financial Literacy Excellence Center, in consultation with Greenwald & Associates. The initial wave of the survey was fielded online in September 2016 with a nationally representative sample of U.S. adults, ages 18 and older, for a total of 1,043 respondents. Hispanics were oversampled during fielding of the survey.
Entrepreneurship among Baby Boomers: Recent Evidence from the Health and Retirement Study Authors Annamaria Lusardi, GFLEC Dimitris Christelis, University of Naples Federico II, CSEF, CEPAR and NETSPAR Carlo de Bassa Scheresberg, GFLEC This research has been supported by a generous grant from the Ewing Marion Kauffman Foundation. About the Research The evolution of entrepreneurship among […]
Money, financial literacy and risk in the digital age
In November 2016, Allianz, in collaboration with Director Annamaria Lusardi, surveyed a total of 10,000 (approximately 1,000 people in each country) in the western European countries of Austria, Belgium, France, Germany, Italy, the Netherlands, Portugal, Spain, Switzerland, and the United Kingdom to better understand their financial and risk literacy and financial decision making. The relationship between financial literacy and relevant financial outcomes (borrowing and investing behavior and planning […]
Holistic financial wellness programs have the power to establish a more satisfied, engaged, and productive workforce. Beyond an attractive benefit for individual employees, promoting financial capability boosts workplace engagement and productivity. Many companies are implementing new programs to help employees with their finances. Establishing effective workplace programs will be crucial for employers who want to help their workers and help themselves […]
What is the NFCS? The National Financial Capability Study (NFCS) is a large-scale, multi-year project that measures Americans’ financial capability. The FINRA Investor Education Foundation commissioned this national study in consultation with the U.S. Department of the Treasury and other federal agencies. The NFCS was first conducted in 2009 and then repeated every three years. […]
Financial problems are common among professional athletes, as many professional athletes lack the skills necessary to effectively manage their personal finances. Our research shows that athletes start declaring bankruptcy as early as two years after the end of their athletic careers and 16% of NFL players will go bankrupt within the twelve years following retirement. Conducting research relating to the NFL and NBA, GFLEC highlighted financial issues among professional athletes and is working to create effective solutions for this group […]
The Standard & Poor’s Ratings Services Global Financial Literacy Survey is the world’s largest, most comprehensive global measurement of financial literacy. It probes knowledge of four basic financial concepts: risk diversification, inflation, numeracy, and interest compounding. The survey is based on interviews with more than 150,000 adults in over 140 countries […]
Through the support of the European Investment Bank Institute, Director Annamaria Lusardi of GFLEC and Dr. Rob Alessie of the University of Groningen are spearheading the Financial Literacy Programme, an international call to action for financial literacy. The Financial Literacy Programme unites financial literacy thought-leaders in Germany, Italy, the Netherlands, Portugal, Spain, Sweden, Switzerland, and Turkey […]
Video Series Launched in April 2015, GFLEC’s video series, “What’s the big idea in financial literacy?,” provides brief videos on key topics within financial literacy. The speakers include members of the GFLEC team as well as its collaborators.
This video series offers concise summaries of in-depth academic and practitioner presentations, in plain English, for dissemination to a worldwide audience. For convenient viewing, most videos are between three and six minutes long. FinLit Talks Annamaria Lusardi of GFLEC and Joseph Briggs of the Federal Reserve on Winfall Gains and Financial Risk Taking from GFLEC on […]
The mission of the International Federation of Finance Museums (IFFM) is to provide a framework for greater collaboration among museums, facilitating the sharing of exhibits, the exchange of scholarship and scholarly resources, and the interchange of information and knowledge. The IFFM also aims to develop and implement innovative ideas and programs to advance financial literacy […]
In 2004, the “Big Three” questions, created by GFLEC Director Annamaria Lusardi and Prof. Olivia Mitchell of the Wharton School, were first fielded in the U.S. Health and Retirement Study. Since then, the exact questions and various variations have been used to measure financial literacy around the world. This page features the findings in 15 […]
Financial Literacy, Illuminated GFLEC Director Annamaria Lusardi joined an eclectic group of thought leaders and innovators—including a poet, neurologist, chalk artist, and professional counselor—onstage at a special TEDx event hosted by the George Washington University on February 7, 2014. Director Lusardi spoke to an audience of more than one thousand people about her research on […]