• Join Our Mailing List
  • Media
  • Supporters
  • Contact
GFLEC
Menu
  • Home
  • About
      • About
      • A Decade of Milestones
      • Greatest Hits: Publications
      • Members
      • Collaborators
      • Supporters
      • Newsletters
      • News Flashes
      • Careers
      • Media
      • Press Kit
    • Close
  • Research
      • Working Papers
      • Publications
      • Reports
      • Policy Briefs
      • Presentations
      • Podcasts
      • Fact Sheets
      • FINLIT eJOURNAL
      • Data
      • Visualizations
    • Close
  • Initiatives
      • DATA SETS
      • The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index)
      • Money, financial literacy and risk in the digital age
      • National Financial Capability Study
      • S&P Global FinLit Survey
      • RESEARCH PROJECTS
      • The Meta-Analysis of Financial Education Programs
      • Millennial Mobile Payment Users
      • Workplace Financial Wellness
      • FLAT World
      • Financial Literacy Programme
      • VIDEO SERIES
      • What’s the Big Idea in Financial Literacy?
      • FinLit Talks
      • OTHER
      • 10th Anniversary
      • G53 Financial Literacy and Personal Finance Network
      • International Federation of Finance Museums
      • See More →
    • Close
  • Education
      • Managing Personal Finances During Coronavirus (COVID-19)
      • Fast Lane
      • Girl Rising FinLit Curriculum by GFLEC
      • The Big Three
      • Personal Finance Course
      • Financial Literacy Micro-Credentials
      • Educational Videos
      • See More →
    • Close
  • Events
      • Connecting to Reimagine Webinar Series
      • Cherry Blossom Financial Education Institute
      • OECD/GFLEC Global Policy Research Symposium to Advance Financial Literacy
      • G20 Conference
      • Fed/GFLEC Financial Literacy Seminar Series
      • International Federation of Finance Museums Meetings
      • See More →
    • Close
  • Assessing Financial Literacy Among the Young

    • PRESENTATIONS
    March 19, 2025

  • Financial Literacy and Retirement Fluency: New insights for improving financial well-being

    • REPORTS
    April 18, 2024

    The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index), now in its eighth year, annually assesses financial literacy among U.S. adults and examines the relationship between financial literacy and financial well-being. In addition to a robust measure of overall financial literacy,… Read More »

  • Financial literacy and financial education: An overview

    • WORKING PAPERS
    April 16, 2024

    Abstract: This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic correlates of financial literacy. We next cover the evidence on the effects… Read More »

  • Evaluating the Effects of a Low-Cost, Online Financial Education Program

    • WORKING PAPERS
    March 12, 2024

    Abstract: This paper provides evidence on how a low-cost, online, and scalable financial education program influences older participants’ financial knowledge. We tested the program using a field experiment that included short stories covering three fundamental financial education topics: compound interest,… Read More »

  • An unrecognized barrier to retirement income security: Poor longevity literacy

    • REPORTS
    August 21, 2023

    Longevity literacy is an understanding of how long people tend to live upon reaching retirement age. It is particularly important since retirement income security requires planning, saving, and preparing for a period that is uncertain in length. Unfortunately, data from… Read More »

  • Financial literacy, longevity literacy, and retirement readiness: The 2022 TIAA Institute-GFLEC Personal Finance Index

    • REPORTS
    January 12, 2023

    Six years of data from the TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) clearly demonstrate that U.S. adults with greater financial literacy tend to have better financial well-being. This report shows that retirement readiness, a specific realm of financial well-being,… Read More »

  • Financial literacy and the gender gap

    • PRESENTATIONS
    October 10, 2022

  • Financial wellness programs in the workplace: Evidence from a Fortune 25 company

    • REPORTS
    September 01, 2022

    Abstract: Financial wellness programs in the workplace are the best ways to reach a vast majority of the adult population. This report is part of a more comprehensive study that focuses on a particular financial wellness program launched by Edelman… Read More »

  • How financial literacy varies among U.S. adults: The 2022 TIAA Institute-GFLEC Personal Finance Index

    • REPORTS
    April 12, 2022

    Summary: The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) is an ongoing project now in its sixth year that annually assesses financial literacy among the U.S. adult population. The P-Fin Index is unique in its capacity to produce a robust… Read More »

  • Using Factor Analysis to Assess Financial Vulnerability in the United States

    • WORKING PAPERS
    January 16, 2022

    Abstract: This paper examines the complex nature of financial vulnerability in the United States through the adoption of factor analysis to identify the underlying constructs of financial security. Using data from the FINRA Foundation’s 2018 National Financial Capability Study (NFCS),… Read More »

  • Financial Literacy and Well-Being: Evidence from Five Years of Data

    • PRESENTATIONS
    December 17, 2021

  • On the costs of financial illiteracy and how to take care of your personal finances

    • PRESENTATIONS
    December 14, 2021

  • Millennials’ and Gen Z’s Money Management During COVID-19: Challenges and Opportunities

    • WORKING PAPERS
    November 01, 2021

    Abstract: The economic consequences of the COVID-19 pandemic have not been felt equally among individuals, with millennials and Gen Z among those hit hardest. We examine responses to a novel survey conducted in May 2021 to understand how the pandemic… Read More »

  • Financial literacy and well-being in a five generation America: The 2021 TIAA Insitute-GFLEC Personal Finance Index

    • REPORTS
    October 19, 2021

    Summary: With five years of the Gen Z cohort now over age 18, the U.S. adult population spans five generations. This report uses data from the 2021 TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) to compare financial literacy across the… Read More »

  • Examining the Barriers to Annuity Ownership for Older Americans

    • REPORTS
    October 05, 2021

    Abstract: The annuity take-up rate is lower than economic theory predicts.1 Using data from the 2018 National Financial Capability Study, we conduct an empirical analysis of individuals in the retirement-planning phase of the life cycle (ages 40–61) and individuals of… Read More »

  • Financial Resilience in America

    • REPORTS
    August 11, 2021

    Summary: In this report, we examine the concept and assessment of financial resilience and its associated factors, which include income and cash flow management, debt management, risk protection, and financial literacy. We use longitudinal data from before and after the… Read More »

  • How to Strengthen Household Financial Resilience

    • POLICY BRIEFS
    August 11, 2021

    Introduction: The COVID-19 pandemic and its economic consequences have laid bare the deeply rooted financial insecurity many Americans face daily. Many households are highly dependent upon earned income and have little to buffer an income loss due to business shutdowns… Read More »

  • Financial Literacy and Financial Behavior at Older Ages

    • WORKING PAPERS
    July 29, 2021

    Abstract: Recent research has documented that people are increasingly entering old age holding more debt than ever before, and having done little or no retirement planning. This paper examines some of the reasons why older peoples’ financial behaviors depart from… Read More »

  • Gender Differences in Financial Literacy

    • PRESENTATIONS
    June 29, 2021

    Watch the presentation.

  • Financial Fragility during the COVID-19 Pandemic

    • PUBLICATIONS
    May 17, 2021

    Abstract: Early in the COVID-19 pandemic, much of the US economy was closed to limit the virus's spread, and several emergency interventions were implemented. Our analysis of older (45–75) respondents fielded in April–May of 2020 indicates that about 1 in… Read More »

  • Challenges for Financial Inclusion: The Role for Financial Education and New Directions

    • VIDEO
    May 11, 2021

    Watch the video.

  • Financial Well-Being and Literacy in the Midst of a Pandemic: The 2021 TIAA Insitute-GFLEC Personal Finance Index

    • REPORTS
    April 04, 2021

    Summary: The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) is an annual barometer of knowledge and understanding which enable sound financial decision making and effective management of personal finances among U.S. adults. It is unique in its capacity to examine financial… Read More »

  • Fearless Woman: Financial Literacy and Stock Market Participation

    • WORKING PAPERS
    March 07, 2021

    Abstract: Women are less financially literate than men. It is unclear whether this gap reflects a lack of knowledge or, rather, a lack of confidence. Our survey experiment shows that women tend to disproportionately respond “do not know” to questions… Read More »

  • Are Americans Financially Resilient to Weather COVID-19?

    • FACT SHEETS
    December 21, 2020

  • Stereotypes in Financial Literacy: Evidence from PISA

    • PUBLICATIONS
    December 16, 2020

    Abstract: We examine gender differences in financial literacy among high school students in Italy using data from the 2012 Programme for International Student Assessment (PISA). Gender differences in financial literacy are large among the young in Italy. They are present… Read More »

  • The Importance of Financial Literacy: Evidence and Recommendations

    • PRESENTATIONS
    December 01, 2020

    Watch the presentation.

  • The Stability and Predictive Power of Financial Literacy: Evidence from Longitudinal Data

    • WORKING PAPERS
    November 18, 2020

    Abstract: We administered the FINRA Foundation’s National Financial Capability Study questionnaire to members of the RAND American Life Panel (ALP) in 2012 and 2018. Using this unique, longitudinal data set, we investigate the evolution of financial literacy over time and… Read More »

  • Financial Literacy and Financial Fragility: Evidence to Understand the COVID-19 Crisis

    • PRESENTATIONS
    November 18, 2020

  • Financial Literacy and Wellness Among U.S. Women: Insights on Underrepresented Minority Women

    • REPORTS
    November 17, 2020

    Summary: The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) provides an annual measure of overall financial literacy among the U.S. adult population, plus a nuanced analysis of personal finance knowledge across eight functional areas. The 2020 P-Fin Index survey was… Read More »

  • The P-Fin Index: Four Years of Data to Understand Personal Finance in America

    • PRESENTATIONS
    November 05, 2020

  • Stereotypes in Financial Literacy: Evidence from PISA

    • WORKING PAPERS
    November 04, 2020

    Abstract: We examine gender differences in financial literacy among high school students in Italy using data from the 2012 Programme for International Student Assessment (PISA). Gender differences in financial literacy are large among the young in Italy. They are present… Read More »

  • Financial Fragility during the COVID-19 Pandemic

    • WORKING PAPERS
    November 03, 2020

    Abstract: Early in the COVID-19 pandemic, much of the US economy was closed to limit the virus’ spread, and several emergency interventions were implemented. Our analysis of older (45-75) respondents fielded in April-May of 2020 indicates that about one in… Read More »

  • The Financial Fragility of European Households During COVID-19 and The Role of Financial Education and Literacy

    • PRESENTATIONS
    November 02, 2020

  • The Milestones of the Integral Ecology for a Human Economy

    • PRESENTATIONS
    October 30, 2020

  • The Stability and Predictive Power of Financial Literacy: Evidence From Longitudinal Data

    • POLICY BRIEFS
    October 29, 2020

    Summary: We administered the FINRA Investor Education Foundation’s National Financial Capability Study (NFCS) questionnaire to members of the RAND American Life Panel (ALP) in 2012 and 2018. Using this longitudinal data set, we investigate the evolution of financial literacy over… Read More »

  • Financial Literacy, Wellness and Resilience Among African Americans

    • REPORTS
    October 26, 2020

    Summary: The financial situation of African Americans lags that of the U.S. population as a whole, and of whites in particular. Simple economic indicators illustrate the gap. While 66% of African Americans report that they are doing at least OK… Read More »

  • How To Solve Income Inequality

    • PODCASTS
    August 19, 2020

    Summary: The podcast talks about why income and wealth inequality is growing and why it’s a problem for the poor, middle class and wealthy, including offering solutions to address the issue.

  • How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness

    • PUBLICATIONS
    July 13, 2020

    This paper explores who is financially literate, whether people accurately perceive their own economic decision-making skills, and where these skills come from. Self-assessed and objective measures of financial literacy can be linked to consumers’ efforts to plan for retirement in… Read More »

  • Financial Capability Assessment for Church Pension Group Members

    • PRESENTATIONS
    May 15, 2020

    Watch the webinar.

  • Financial Education Affects Financial Knowledge and Downstream Behaviors

    • WORKING PAPERS
    April 25, 2020

    Abstract: We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on… Read More »

  • The 2020 TIAA Institute-GFLEC Personal Finance Index: Many Do Not Know What They Do and Do Not Know

    • REPORTS
    April 07, 2020

    Summary: The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) is an annual barometer of knowledge and understanding which enable sound financial decision making and effective management of personal finances among U.S. adults. It is unique in its capacity to examine financial… Read More »

  • Attitudes Toward Debt and Debt Behavior

    • WORKING PAPERS
    April 06, 2020

    Abstract: We introduce a novel survey measure of attitude toward debt. Matching our survey results with panel data on Swedish household balance sheets from registry data, we show that our debt attitude measure helps explain individual variation in indebtedness as… Read More »

  • Building Financial Resilience

    • PRESENTATIONS
    March 31, 2020

    Watch the video.

  • Financial Education Works

    • PODCASTS
    February 19, 2020

    Summary: This podcast talks about the state of financial literacy in the United States, income inequality across communities, and the impact of financial education.

  • Financial Well-Being of the Millennial Generation: An In-Depth Analysis of its Drivers and Implications

    • WORKING PAPERS
    December 03, 2019

    Abstract: This research highlights the importance of designing and offering financial education programs that will optimally meet the needs and address the concerns of this diverse population. To improve financial well-being, programs should be tailored to the financial situation of… Read More »

  • Retirement Security in a Low-Interest-Rate Environment

    • VIDEO
    December 02, 2019

    Watch the video 

  • New Evidence on the Financial Knowledge and Characteristics of Investors

    • REPORTS
    October 09, 2019

    Abstract: Increased individual responsibility for retirement saving and investing, together with the growing complexity of financial products, require that investors have financial knowledge and awareness. This report provides evidence of substantial differences across investor types. Workplace-only investors, whose exposure to… Read More »

  • Income Growth and the Distributional Effects of Urban Spatial Sorting

    • VIDEO
    October 03, 2019

    Watch the video.

  • Pooling (Data) Assets to Learn about Debts and Debt Collection

    • VIDEO
    July 29, 2019

    Watch the video.

  • Complexity, Financial Decision Making, and Consequence Messaging

    • VIDEO
    July 29, 2019

    Watch the video.

  • Defined Contribution Plans and the Challenge of Financial Illiteracy

    • PUBLICATIONS
    June 13, 2019

    Abstract: Retirement investing in the United States has changed dramatically. The classic defined-benefit (DB) plan has largely been replaced by the defined-contribution (DC) plan. With the latter, individual employees’ decisions about how much to save for retirement and how to… Read More »

  • Defined Contribution Plans and the Challenge of Financial Illiteracy

    • WORKING PAPERS
    June 13, 2019

    Abstract: Retirement investing in the United States has changed dramatically. The classic defined-benefit (DB) plan has largely been replaced by the defined-contribution (DC) plan. With the latter, individual employees’ decisions about how much to save for retirement and how to… Read More »

  • Millennials’ Engagement with Online Financial Education Resources and Tools: New Survey Insights and Recommendations

    • REPORTS
    May 01, 2019

    In today’s economy, individuals—sometimes at an early age—are required to make important and complex financial decisions, many of them with long-lasting consequences. In executing these decisions, people may tap into many resources, including ones online. For those aiming to expand… Read More »

  • Financial Fragility Among Middle-Income Households: Evidence Beyond Asset Building

    • WORKING PAPERS
    April 08, 2019

    Abstract: Several years after the financial crisis, financial fragility is not only pervasive in the U.S economy but also prevalent among middle-income households. This highlights the need to consider more than asset levels in order to understand household financial resilience. In… Read More »

  • Financial Literacy in the United States and Its Link to Financial Wellness: The 2019 TIAA Institute-GFLEC Personal Finance Index

    • REPORTS
    April 02, 2019

    The 2019 TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) represents the third wave of a long-term project to annually assess financial literacy among the U.S. adult population. The P-Fin Index is unique in its capacity to produce a robust measure… Read More »

  • Financial Literacy and the Need for Financial Education: Evidence and Implications

    • PUBLICATIONS
    December 19, 2018

    Introduction Throughout their lifetime, individuals today are more responsible for their personal finances than ever before. With life expectancies rising, pension and social welfare systems are being strained. In many countries, employer-sponsored defined benefit (DB) pension plans are swiftly giving… Read More »

  • Financial Fraud among Older Americans: Evidence and Implications

    • PUBLICATIONS
    December 14, 2018

    Abstract: Objectives: The consequences of poor financial capability at older ages are serious and include making mistakes with credit, spending retirement assets too quickly, and being defrauded by financial predators. Because older persons are at or past the peak of… Read More »

  • Financial Literacy in the U.S.: Students and Parents

    • FACT SHEETS
    November 16, 2018

  • Millennial Financial Literacy and Fin-tech Use

    • PRESENTATIONS
    November 08, 2018

    Watch a video recording of Director Lusardi's keynote address here.

  • Financial Education: Young People in the Digital Age

    • PRESENTATIONS
    October 19, 2018

  • Millennial Financial Literacy and Fin-tech Use: Who Knows What in the Digital Era

    • REPORTS
    September 12, 2018

    Summary: Using an oversample of Gen Y in the 2018 wave of the TIAA Institute-GFLEC Personal Finance Index (P-Fin Index), this report examines the financial literacy of millennials and how they engage with fin-tech, i.e., use smartphones for financial purposes.

  • What Do Hand-Washing and Financial Illiteracy Have in Common?

    • PODCASTS
    July 17, 2018

    Summary: This podcast explores the idea that most problems are solved by more education — except when they’re not. Director Lusardi explains that financial education is the path forward to a more financially literate world.

  • Director’s Cut: Making Europe financially literate

    • PODCASTS
    June 19, 2018

    Summary: Bruegel, the think tank, asks Director Lusardi about the state of financial literacy in Europe and its consequences. Annamaria Lusardi previously made a presentation at the Bruegel event, ‘The Importance of Being Financially Literate,’ on May 15, 2018. Click… Read More »

  • Everything You Always Wanted to Know About Money (But Were Afraid to Ask)

    • PODCASTS
    June 12, 2018

    Summary: The bad news: roughly 70 percent of Americans are financially illiterate. The good news: all the important stuff can fit on one index card. Here’s how to become your own financial superhero.

  • How Mobile Payments Drain Our Financial Literacy

    • PODCASTS
    June 12, 2018

    Summary: Does the convenience of mobile payments diminish consumers' financial literacy? George Washington University School of Business's Annamaria Lusardi discusses how a significant level of financial awareness is removed when making payments via devices.

  • Gender Differences in Financial Literacy: Evidence and Implications

    • PRESENTATIONS
    June 04, 2018

  • Knowledge, Fear and Beliefs: Household Demand for Socially Responsible Investments

    • VIDEO
    May 31, 2018

    Watch the video.

  • Financial Fragility: Evidence and Implications

    • FACT SHEETS
    April 15, 2018

    To read the National Endowment for Financial Education's Summer 2018 Digest, which features GFLEC's research on financial fragility as its covers story, click here. This research was supported by NEFE.

  • The 2018 TIAA Institute-GFLEC Personal Finance Index: The State of Financial Literacy Among U.S. Adults

    • REPORTS
    April 04, 2018

    Summary: The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) is an annual barometer of knowledge and understanding which enable sound financial decision making and effective management of personal finances among U.S. adults. It is unique in its capacity to examine financial… Read More »

  • Tax Reforms

    • VIDEO
    February 21, 2018

    Watch the video.

  • Tax Reforms

    • VIDEO
    February 21, 2018

    Watch the video.

  • Empowering Youth

    • FACT SHEETS
    February 12, 2018

  • Financial Literacy and Financial Education Can Change Lives

    • PRESENTATIONS
    November 17, 2017

  • Financial Literacy and Long-Term Financial Security

    • PRESENTATIONS
    November 17, 2017

  • Does Financial Education Impact Financial Literacy and Financial Behavior?

    • PRESENTATIONS
    November 07, 2017

  • The Gender Gap in Financial Literacy: A Global Perspective

    • REPORTS
    July 11, 2017

    Summary: Financial literacy is a skill that is essential if one is to participate in today’s economy. Wide-ranging developments in the financial marketplace have contributed to growing concerns about the level of financial literacy of citizens of many countries. Through… Read More »

  • The Gender Gap in Financial Literacy: A Global Perspective

    • POLICY BRIEFS
    July 11, 2017

    Summary: With data on financial literacy from a survey of more than 150,000 people in 140 economies worldwide, the 2014 Standard & Poor’s Ratings Services Global Financial Literacy Survey (S&P Global FinLit Survey) represents the most comprehensive global measure of… Read More »

  • Three Central Investment Mistakes (And How to Mitigate their Prevalence)

    • VIDEO
    June 30, 2017

    Watch the video.

  • The Knowledge Gap in Workplace Retirement Investing and the Role of Professional Advisors

    • VIDEO
    June 30, 2017

    Watch the video.

  • TIAA Institute-GFLEC Personal Finance (P-Fin) Index

    • VIDEO
    June 28, 2017

    Watch the video.

  • Programme for International Student Assessment (PISA) Financial Literacy

    • DATA
    May 31, 2017

    Financial literacy data from the 2022, 2018, 2015 and 2012 Programme for International Student Assessment (PISA) are available for download. The financial literacy assessment administered through the Organisation for Economic Co-operation and Development (OECD) measures 15-year-olds' financial knowledge and experience… Read More »

  • Millennials and Financial Literacy: A Global Perspective

    • REPORTS
    May 11, 2017

    Summary: Worldwide, just one in three adults show an understanding of basic financial concepts, making it clear that billions of people are unprepared to deal with rapid changes in the financial landscape. Credit products, many of which carry high interest… Read More »

  • Millennials and Financial Literacy: A Global Perspective

    • POLICY BRIEFS
    May 11, 2017

    Summary: Financial literacy is of utmost importance for Millennials, as they face financial decisions that can have consequences for the rest of their life. However, in a rapidly changing economic landscape, Millennials do not seem to be prepared to deal… Read More »

  • Financial Literacy: A Vision for the Future

    • PRESENTATIONS
    May 08, 2017

  • The TIAA Institute-GFLEC Personal Finance Index: A New Measure of Financial Literacy

    • REPORTS
    March 22, 2017

    Summary: 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. It is unique in its capacity to examine financial literacy across eight areas of personal finance in… Read More »

  • Remarks of Annamaria Lusardi to the SEC Investor Advisory Committee

    • POLICY BRIEFS
    March 13, 2017

    Click here to view Director Lusardi's presentation from the SEC IAC meeting. View the agenda of the meeting by clicking here.  Watch the meeting webcast by clicking here (Director Lusardi begins speaking at 48:09).       

  • When will the penny drop? Money, financial literacy and risk in the digital age

    • REPORTS
    January 30, 2017

    Summary: 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… Read More »

  • An Investigation on Health Impact of Self-Employment

    • VIDEO
    January 24, 2017

    Watch the video.

  • Self-Employment Transitions among Older Americans

    • VIDEO
    January 24, 2017

    Watch the video.

  • Self-employment for Underserved Older Adults

    • VIDEO
    January 24, 2017

    Watch the video.

  • Government Supported Entrepreneurship Programs

    • VIDEO
    January 24, 2017

    Watch the video.

  • Financial Literacy – How It Affects Us All

    • PODCASTS
    December 21, 2016

    Summary: Manisha Thakor talks with Director Lusardi about financially fragile groups and how low financial literacy affects the economy.

  • Americans’ Financial Capability

    • PRESENTATIONS
    December 08, 2016

  • Entrepreneurship Among Baby Boomers: Recent evidence from the Health and Retirement Study

    • PRESENTATIONS
    November 07, 2016

  • Financial Literacy: Interview with Dr. Annamaria Lusardi

    • PODCASTS
    October 05, 2016

    Summary: David Allen interviews Director Lusardi to discuss why financial literacy is such an important subject.

  • ENTREPRENEURSHIP AMONG BABY BOOMERS: RECENT EVIDENCE FROM THE HEALTH AND RETIREMENT STUDY

    • WORKING PAPERS
    October 03, 2016

    Abstract: We study entrepreneurship among Baby Boomers using data from the US Health and Retirement Study (HRS). Using two different definitions of entrepreneurship (being self-employed and being a business owner), we compare entrepreneurs to non-entrepreneurs and entrepreneurs who were age… Read More »

  • Women and Retirement Security

    • REPORTS
    September 30, 2016

    Summary: Our research investigates whether and how older women’s current and anticipated future labor force patterns has changed over time, to evaluate the factors associated with longer work lives and plans to continue working at older ages. For our empirical… Read More »

  • Bankruptcy among NFL Players

    • VIDEO
    September 29, 2016

    Watch the video

  • HOUSEHOLD FINANCIAL FRAGILITY: EVIDENCE AND IMPLICATIONS

    • PRESENTATIONS
    September 29, 2016

    Macrofinancial Symposium: Links between Financial Markets and the American Economy

  • FINANCIAL LITERACY AROUND THE WORLD: EVIDENCE, THEORY, AND IMPLICATIONS

    • PRESENTATIONS
    September 23, 2016

  • GENDER DIFFERENCES IN FINANCIAL LITERACY AROUND THE WORLD

    • PRESENTATIONS
    September 14, 2016

  • THE FINANCIAL LITERACY MANIFESTO

    • PRESENTATIONS
    September 14, 2016

  • Financial Literacy: A Vision for the Future

    • PRESENTATIONS
    August 24, 2016

  • The Effect of Financial Education on the Quality of Decision Making

    • WORKING PAPERS
    August 09, 2016

    Abstract: We introduce a method for measuring the quality of financial decision making built around a notion of financial competence, which gauges the alignment between individuals' choices and those they would make if they properly understood their opportunities. We use it to document the… Read More »

  • Americans’ Troubling Financial Capabilities: A Profile of Pre-Retirees

    • REPORTS
    July 08, 2016

    Summary: Many people envision a life of work that builds to comfortable and enjoyable retirement years. For previous generations, the financial security that marked that post–labor-force chapter hinged on how generous employers were with pensions or how well employers invested and… Read More »

  • How financially literate are women? An overview and new insights

    • PUBLICATIONS
    June 16, 2016

    Abstract: We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they do… Read More »

  • The Display of Information and Household Investment Behavior

    • VIDEO
    June 14, 2016

    Watch the Video

  • Anchors, Target Values, and Credit Card Payments

    • VIDEO
    May 27, 2016

    Watch Now

  • Financial Literacy Seminar Series with Abigail Sussman: Anchors, Target Values, and Credit Card Payments

    • VIDEO
    May 27, 2016

    Watch the Video

  • Behavior Insights for Scalable Solutions in Education

    • VIDEO
    May 26, 2016

    Watch Now

  • Financial Literacy Seminar with Annamaria Lusardi, Financial Literacy Around the World: Insights from S&P Global FinLit Survey

    • VIDEO
    April 27, 2016

    Watch the video.

  • Financial Literacy, Illuminated

    • VIDEO
    March 18, 2016

    Watch the video.

  • Employees’ Financial Wellness: New Strategies

    • PRESENTATIONS
    March 08, 2016

  • HOW FINANCIALLY LITERATE ARE WOMEN? AN OVERVIEW AND NEW INSIGHTS

    • WORKING PAPERS
    February 19, 2016

    Abstract: We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they… Read More »

  • Importance of Financial Literacy Panel

    • VIDEO
    February 09, 2016

    Watch the video.

  • Teaching Financial Literacy Panel

    • VIDEO
    February 09, 2016

    Watch the video.

  • Q&A Elsa Fornero on Pension Reforms and Financial Literacy

    • VIDEO
    January 22, 2016

    Watch the video.

  • Pension Reforms and Financial Literacy

    • VIDEO
    January 22, 2016

    Watch the video.

  • Financial Education in Schools: Lessons from Australia

    • VIDEO
    January 22, 2016

    Watch the video.

  • Financial Literacy Amongst the Educated

    • VIDEO
    January 22, 2016

    Watch the video.

  • Pensions and the Importance of Financial Literacy Education for Women

    • VIDEO
    January 22, 2016

    Watch the video.

  • AN OVERVIEW OF THE PISA FINANCIAL LITERACY ASSESSMENT

    • PRESENTATIONS
    January 15, 2016

  • Financial Literacy: A Global Perspective

    • PRESENTATIONS
    December 09, 2015

  • The Importance of Financial Literacy and the Effectiveness of Financial Education

    • PRESENTATIONS
    December 08, 2015

    Financial Education and Investor Behavior Conference

  • Financial Literacy: A Global Perspective

    • PRESENTATIONS
    December 07, 2015

    International Seminar: Financial Education in Brazil and in the World (in Portuguese)

  • Risk Literacy

    • PRESENTATIONS
    December 02, 2015

  • FINANCIAL KNOWLEDGE AND 401(K) INVESTMENT PERFORMANCE: A CASE STUDY

    • PUBLICATIONS
    December 01, 2015

    Abstract: We explore whether investors who are more financially knowledgeable earn more on their retirement plan investments compared to their less sophisticated counterparts, using a unique new dataset linking administrative data on investment performance and financial knowledge. Results show that the… Read More »

  • Optimal Financial Knowledge and Wealth Inequality

    • PUBLICATIONS
    December 01, 2015

    Abstract: We show that financial knowledge is a key determinant of wealth inequality in a stochastic lifecycle model with endogenous financial knowledge accumulation, where financial knowledge enables individuals to better allocate lifetime resources in a world of uncertainty and imperfect… Read More »

  • The Effect of Financial Education on the Quality of Decision Making

    • VIDEO
    November 19, 2015

    Watch the video.

  • A GLOBAL PERSPECTIVE ON FINANCIAL LITERACY

    • PRESENTATIONS
    November 18, 2015

  • A GLOBAL PERSPECTIVE ON FINANCIAL LITERACY

    • PRESENTATIONS
    November 18, 2015

  • FINANCIAL LITERACY AROUND THE WORLD: INSIGHTS FROM THE STANDARD & POOR’S RATINGS SERVICES GLOBAL FINANCIAL LITERACY SURVEY

    • REPORTS
    November 18, 2015

    Summary: Given the many ways financial literacy affects financial behavior (Lusardi and Mitchell, 2014), it is important to understand the extent of people’s understanding of basic financial concepts as well as the degree to which financial skills fall short among groups like women and… Read More »

  • Hispanic Personal Finances: Financial Literacy and Decision-making Among College-Educated Hispanics

    • PRESENTATIONS
    November 12, 2015

  • Cognitive Constraints on Valuing Annuities

    • VIDEO
    November 05, 2015

    Watch the video

  • Financial Literacy Skills for the 21st Century: Evidence from PISA

    • PUBLICATIONS
    October 24, 2015

    Foreward: I am delighted to be asked to give the Colston Warne Lecture at the American Council on Consumer Interests annual conference. What I want to cover in this lecture is what I consider to be one of the most important… Read More »

  • Visual Tools and Narratives: New Ways to Improve Financial Literacy

    • PUBLICATIONS
    October 19, 2015

    Abstract: We developed and experimentally evaluated four novel educational programs delivered online: an informational brochure, a visual interactive tool, a written narrative, and a video narrative. The programs were designed to inform people about risk diversification, an essential concept for financial… Read More »

  • Credit Scores and Committed Relationships

    • VIDEO
    October 15, 2015

    Watch the video.

  • INTERNATIONAL DIVERSIFICATION & 296 401(K) PLANS

    • VIDEO
    October 01, 2015

    Watch the video.

  • International Diversification & 296 401(k) Plans

    • VIDEO
    October 01, 2015

    Watch the video.

  • THE GLOBAL FINDEX DATABASE 2014: MEASURING FINANCIAL INCLUSION AROUND THE WORLD

    • VIDEO
    September 17, 2015

    Watch the video. 

  • The Global Findex Database 2014: Measuring Financial Inclusion Around the World

    • VIDEO
    September 17, 2015

    Watch the video.

  • Financial Literacy and Retirement Planning in Canada

    • PUBLICATIONS
    September 09, 2015

    Abstract: In this paper, we draw on internationally comparable survey evidence on financial literacy and retirement planning in Canada to investigate how financially literate Canadians are and how financial literacy is linked to retirement planning. We find that 42 percent of… Read More »

  • USING A LIFE CYCLE MODEL TO EVALUATE FINANCIAL LITERACY PROGRAM EFFECTIVENESS

    • WORKING PAPERS
    July 30, 2015

    Abstract: Prior studies disagree regarding the effectiveness of financial literacy programs, especially those offered in the workplace. To explain such measurement differences in evaluation and outcomes, we employ a stochastic life cycle model with endogenous financial knowledge accumulation to investigate how financial education programs… Read More »

  • Interview from 8th ANBIMA Investment Funds Congress

    • VIDEO
    July 24, 2015

    Watch Lusardi's interview

  • Teaching Students Financial Literacy: Why is it Necessary?

    • PRESENTATIONS
    July 14, 2015

  • FINANCIAL LITERACY AND THE COST OF IGNORANCE

    • PRESENTATIONS
    June 18, 2015

    Listen to the podcast of Lusardi's presentation.

  • Debt Literacy, Financial Experiences, and Overindebtedness

    • PUBLICATIONS
    June 05, 2015

    Abstract: We analyze a national sample of Americans with respect to their debt literacy, financial experiences, and their judgments about the extent of their indebtedness. Debt literacy is a component of broader financial understanding that measures knowledge about debt and… Read More »

  • Financial Literacy and Economic Outcomes: Evidence and Policy Implications

    • PUBLICATIONS
    June 05, 2015

    Abstract: This paper reviews what we have learned over the past decade about financial literacy and its relationship to financial decision-making around the world. Using three questions, we have surveyed people in several countries to determine whether they have the fundamental… Read More »

  • Testimony of Annamaria Lusardi Before the ERISA Advisory Council

    • POLICY BRIEFS
    May 28, 2015

    Summary: The transfer of risk from defined benefit plan sponsors to plan participants when offering lump sum distributions of pensions was the topic of Annamaria Lusardi’s testimony. In her testimony, she discussed the information that participants need to make informed decisions… Read More »

  • High School Students and Financial Literacy: Evidence from PISA

    • PRESENTATIONS
    May 22, 2015

    Click here to read the lecture as published in the Journal of Consumer Affairs.

  • PISA Financial Literacy Assessment

    • VIDEO
    May 18, 2015

    Watch the video.

  • Hispanic Personal Finances: Financial Literacy and Decisionmaking Among College-Educated Hispanics

    • POLICY BRIEFS
    May 18, 2015

    Summary: This report examines the personal finances—assets, liabilities, planning behaviors, financial vulnerability and financial literacy—of college-educated Hispanics, i.e., those with high school degrees who report at least “some college” as their highest level of educational attainment. Many college-educated Hispanics are, in… Read More »

  • Hispanic Personal Finances: Financial Literacy and Decisionmaking Among College-Educated Hispanics

    • REPORTS
    May 18, 2015

    Summary: This report examines the personal finances—assets, liabilities, planning behaviors, financial vulnerability and financial literacy—of college-educated Hispanics, i.e., those with high school degrees who report at least “some college” as their highest level of educational attainment. Many college-educated Hispanics are, in… Read More »

  • The Economic Importance of Financial Literacy

    • PRESENTATIONS
    May 15, 2015

  • HARNESSING FINANCIAL EDUCATION TO SPUR ENTREPRENEURSHIP AND INNOVATION

    • PRESENTATIONS
    May 07, 2015

  • BANKRUPTCY RATES AMONG NFL PLAYERS WITH SHORT-LIVED INCOME SPIKES

    • PUBLICATIONS
    May 01, 2015

    Abstract: One of the central predictions of the life-cycle hypothesis is that individuals smooth consumption over their economic life cycle; thus, they save when income is high, in order to provide for when income is likely to be low, such as after retirement. We… Read More »

  • Retirement Security

    • PRESENTATIONS
    April 27, 2015

    2015 White House Conference on Aging Watch the video of Lusardi's presentation.

  • FIVE STEPS TO PLANNING SUCCESS: EXPERIMENTAL EVIDENCE FROM U.S. HOUSEHOLDS

    • PUBLICATIONS
    April 27, 2015

    Abstract: While financial knowledge has been linked to improved financial behaviour, there is little consensus on the value of financial education, in part because rigorous evaluation of various programmes has yielded mixed results. However, given the heterogeneity of financial education programmes… Read More »

  • Financial Illiteracy Meets Conflicted Advice: The Case of Thrift Savings Plan Rollovers

    • VIDEO
    April 23, 2015

    Watch the video.

  • BANKRUPTCY RATES AMONG NFL PLAYERS WITH SHORT-LIVED INCOME SPIKES

    • WORKING PAPERS
    April 15, 2015

    Abstract: One of the central predictions of the life-cycle hypothesis is that individuals smooth consumption over their economic life cycle; thus, they save when income is high, in order to provide for when income is likely to be low, such as after retirement. We… Read More »

  • How Can Financial Literacy Improve Retirement Planning?

    • PRESENTATIONS
    April 08, 2015

  • Planning and Saving for Retirement

    • PUBLICATIONS
    March 30, 2015

  • The Economic Importance of Financial Literacy

    • PRESENTATIONS
    March 30, 2015

    Watch Prof. Lusardi's presentation

  • Investor Protection and Education Going Forward – What does it take to change behavior?

    • PRESENTATIONS
    March 30, 2015

  • Financial Literacy and Economic Outcomes: Evidence and Policy Implications

    • PRESENTATIONS
    March 27, 2015

    Watch Prof. Lusardi's presentation European Money Week

  • Financial Literacy and Economic Outcomes: Evidence and Policy Implications

    • WORKING PAPERS
    March 27, 2015

    Abstract: This paper reviews what we have learned about financial literacy and its relationship to financial decision-making around the world. Using three simple questions, we have surveyed people in many countries to determine whether they have the fundamental knowledge of… Read More »

  • HOW FINANCIALLY LITERATE ARE WOMEN? AN OVERVIEW AND NEW INSIGHTS

    • WORKING PAPERS
    March 27, 2015

    Abstract: We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they do… Read More »

  • RISK LITERACY

    • PUBLICATIONS
    March 27, 2015

    Abstract: I examine financial literacy—specifically knowledge of risk—using data from surveys in the United States and other countries. I show that risk literacy is very low; the majority of individuals lack knowledge of concepts such as risk diversification and do… Read More »

  • The Impact of Bank Account Ownership on Adolescents’ Financial Literacy

    • VIDEO
    March 26, 2015

    Watch the video.

  • eJOURNAL

    • FINLIT eJOURNAL
    January 06, 2015

    GFLEC has created and continues to edit the first Financial Literacy eJournal. Click on the logo to read the eJournal. Click here for submission instructions.

  • PISA FINANCIAL LITERACY ASSESSMENT

    • PRESENTATIONS
    January 06, 2015

  • GENDER, CONFIDENCE, AND FINANCIAL LITERACY

    • PRESENTATIONS
    January 06, 2015

  • THE ECONOMIC IMPORTANCE OF FINANCIAL LITERACY

    • PRESENTATIONS
    January 06, 2015

  • FINANCIAL LITERACY AND HIGH-COST BORROWING IN THE UNITED STATES

    • WORKING PAPERS
    December 31, 2014

    Abstract:  In this paper, we examine high-cost methods of borrowing in the United States, such as payday loans, pawn shops, auto title loans, refund anticipation loans, and rent-to-own shops, and offer a portrait of borrowers who use these methods. Considering… Read More »

  • FINANCIAL KNOWLEDGE AND 401(K) INVESTMENT PERFORMANCE

    • WORKING PAPERS
    December 17, 2014

    Abstract: Using a unique new data set linking administrative data on investment performance and financial knowledge, we examine whether investors who are more financially knowledgeable earn more on their retirement plan investments, compared to their less sophisticated counterparts. We find that… Read More »

  • FIVE STEPS TO PLANNING SUCCESS: EXPERIMENTAL EVIDENCE FROM U.S. HOUSEHOLDS

    • WORKING PAPERS
    December 17, 2014

    Abstract: In this paper, we design and field a low-cost, easily-replicable financial education program called “Five Steps,” covering five basic financial planning concepts that relate to retirement. We conduct a field experiment to evaluate the overall impact of “Five Steps” on a… Read More »

  • VISUAL TOOLS AND NARRATIVES: NEW WAYS TO IMPROVE FINANCIAL LITERACY

    • WORKING PAPERS
    December 17, 2014

    Abstract: In this paper, we developed and experimentally evaluated four novel educational programs delivered online: an informational brochure, a visual interactive tool, a written narrative, and a video narrative. The programs were designed to inform people about risk diversification, an essential… Read More »

  • FINANCIAL LITERACY AND RETIREMENT PLANNING IN CANADA

    • WORKING PAPERS
    December 17, 2014

    Abstract: Financial literacy and Canadians’ capacity to plan for retirement is of primary importance for the policy debate over pension system reform in Canada. In this paper, we draw on internationally comparable survey evidence on financial literacy and retirement planning in… Read More »

  • OPTIMAL FINANCIAL KNOWLEDGE AND WEALTH INEQUALITY

    • WORKING PAPERS
    December 17, 2014

    Abstract: Using a stochastic life cycle model with endogenous financial knowledge accumulation, we show that financial knowledge is a key determinant of wealth inequality. The mechanism we posit is that financial knowledge enables individuals to better allocate resources over their lifetimes… Read More »

  • FINANCIAL EDUCATION, FINANCIAL COMPETENCE, AND CONSUMER WELFARE

    • WORKING PAPERS
    December 17, 2014

    Abstract: We introduce the concept of financial competence, a measure of the extent to which individuals’ financial choices align with those they would make if they properly understood their opportunity sets. Unlike existing measures of the quality of financial decision making,… Read More »

  • FINANCIAL LITERACY AROUND THE WORLD: AN OVERVIEW

    • PUBLICATIONS
    December 17, 2014

    Abstract:  In an increasingly risky and globalized marketplace, people must be able to make well informed financial decisions. New international research demonstrates that financial illiteracy is widespread in both well-developed and rapidly changing markets. Women are less financially literate than men, the… Read More »

  • FINANCIAL LITERACY AND QUANTITATIVE REASONING IN THE HIGH SCHOOL AND COLLEGE CLASSROOM

    • PUBLICATIONS
    December 17, 2014

    Abstract:  This overview frames the eight articles devoted to financial literacy in this issue of Numeracy. The survey questions used to assess financial literacy in the United States, Romania, France, Switzerland, Australia, and elsewhere include mathematics that is routinely covered… Read More »

  • THE ECONOMIC IMPORTANCE OF FINANCIAL LITERACY: THEORY AND EVIDENCE

    • PUBLICATIONS
    December 17, 2014

    This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research, which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has… Read More »

  • Exponential Growth Bias

    • VIDEO
    December 16, 2014

    Watch the video.

  • Gender Differences

    • VIDEO
    November 30, 2014

    Watch the video.

  • Effects of the Affordable Health Care Act Young Adult Provision

    • VIDEO
    November 13, 2014

    Watch the video.

  • TOWARDS A MORE INCLUSIVE SOCIETY

    • PRESENTATIONS
    November 01, 2014

  • APEC Guidebook on Financial and Economic Literacy in Basic Education

    • REPORTS
    November 01, 2014

    Summary: This is a joint initiative, that means, it is based on the efforts, knowledge and wisdom of experts from all the APEC economies and at the same time it is hoped to benefit all the economies in the APEC… Read More »

  • Individual Investors’ Numerical Skills

    • VIDEO
    October 30, 2014

    Watch the video.

  • Inflation Expectations and Behavior: Do Survey Respondents Act on Their Belief?

    • VIDEO
    October 16, 2014

    Watch the video.

  • FINANCIAL CAPABILITY AMONG YOUNG ADULTS

    • PRESENTATIONS
    October 03, 2014

  • Student Loans

    • VIDEO
    October 02, 2014

    Watch the video.

  • FINANCIAL SOPHISTICATION IN THE OLDER POPULATION

    • PUBLICATIONS
    October 01, 2014

    Abstract:  This paper examines data on financial sophistication among the U.S. older population, using a special-purpose module implemented in the Health and Retirement Study. We show that financial sophistication is deficient for older respondents (aged 55+). Specifically, many in this… Read More »

  • FINANCIAL CAPABILITY NEAR RETIREMENT: A PROFILE OF PRE-RETIREES

    • REPORTS
    October 01, 2014

    Summary: This report shows how pre-retirees—those between 51 and 61 years of age—face a number of financial challenges. Authors Carlo de Bassa Scheresberg and Annamaria Lusardi use financial capability data from the 2012 National Financial Capability Study to highlight the troubling… Read More »

  • The Effectiveness of Financial Literacy Programs

    • PRESENTATIONS
    September 30, 2014

    Proceedings of the Future of Financial Wellness Conference.

  • Trying the Impossible–Financing 30-Year Retirements with 40-Year Careers: A Discussion of Social Security and Retirement Policy

    • VIDEO
    September 25, 2014

    Watch the video.

  • Working Women’s Financial Capability: An Analysis across Family Status and Career Stages

    • REPORTS
    August 01, 2014

    Summary: This study increases our understanding of the unique financial needs of working women by examining key factors associated with their personal finances and identifying issues that are critical to their financial future. The study provides an overview of working women’s… Read More »

  • Financial Literacy: Illuminated! Annamaria Lusardi at TEDxFoggyBottom

    • VIDEO
    May 13, 2014

    Watch the video.

  • GEN Y PERSONAL FINANCES: A CRISIS OF CONFIDENCE AND CAPABILITY

    • REPORTS
    May 01, 2014

    Summary:  Generation Y will leave a lasting imprint on American history. The largest, most diverse generation America has seen, Generation Y comprises millions who were born between the late 1970s and the mid-1990s. While this generation is confident, they face… Read More »

  • Financial Literacy Among Graduate Students: A Case Study from the Indiana University System

    • VIDEO
    April 24, 2014

    Watch the video.

  • School Sense Video from within the CFED Presentation

    • VIDEO
    March 27, 2014

    Watch the video.

  • Financial Education and Account Access among Elementary Students: Findings from the Assessing Financial Capability Outcomes Pilot

    • VIDEO
    March 27, 2014

    Watch the video.

  • Inattention and Inertia in Household Finance: Evidence from the Danish Mortgage Market

    • VIDEO
    March 20, 2014

    Watch the video.

  • Financial Literacy, Illuminated: It’s a FLAT World

    • PRESENTATIONS
    February 07, 2014

  • FINANCIAL LITERACY: DO PEOPLE KNOW THE ABCs OF FINANCE?

    • PUBLICATIONS
    February 01, 2014

    Abstract: Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper looks at financial literacy,… Read More »

  • HELPING GEN Y ACHIEVE LONG-TERM FINANCIAL SECURITY

    • POLICY BRIEFS
    February 01, 2014

    Summary: They are young, tech savvy, and confident; diverse, connected, and idealistic. And, they face a host of financial challenges. We’re talking, of course, about Gen Y, represented by the 2,124 college-educated respondents age 23 to 35 who took part in… Read More »

  • COLLEGE-EDUCATED MILLENNIALS: AN OVERVIEW OF THEIR PERSONAL FINANCES

    • REPORTS
    February 01, 2014

    Summary:  This study has used new data from the NFCS to analyze salient issues related to college-educated Millennials’ financial capability, practices, and status, and in the process identify key financial challenges they face. The results suggest that the promotion of financial… Read More »

  • PROCEEDINGS OF THE OECD/INFE/GFLEC GLOBAL POLICY RESEARCH SYMPOSIUM TO ADVANCE FINANCIAL LITERACY

    • REPORTS
    October 31, 2013

    Summary: This document collects the contributions of the four main speakers of the OECD/INFE/GFLEC Global Policy Research Symposium to Advance Financial Literacy, held in Paris on 31 October 2013. The conference was co-organised with the Global Financial Literacy Excellence Center… Read More »

  • DEBT AND DEBT MANAGEMENT AMONG OLDER ADULTS

    • WORKING PAPERS
    September 01, 2013

    Abstract:  Many individuals lack the financial know-how to manage the complex new financial products increasingly available in the financial marketplace. How people borrow and manage debt has become of increasing policy maker concern, given recent evidence on Americans’ over-indebtedness. As… Read More »

  • THE FINANCIAL FRAGILITY OF AMERICAN FAMILIES

    • POLICY BRIEFS
    September 01, 2013

    Summary:  The economic crisis that began in 2007 started a wide-ranging spiral that not only weakened the U.S. economy but also eroded the financial stability of households—exposing the fragility of American families. Stock values dropped, real estate prices plummeted, household wealth… Read More »

  • Financial Literacy and Financial Behavior among Young Adults: Evidence and Implications

    • PUBLICATIONS
    July 01, 2013

    Abstract: This paper uses data from the 2009 National Financial Capability Study to examine financial literacy and financial behavior in a sample of approximately 4,500 young adults age 25 to 34. The paper finds that most young adults lack basic financial… Read More »

  • How Borrowers Choose and Repay Payday Loans

    • VIDEO
    May 16, 2013

    Watch the video.

  • How Borrowers Choose and Repay Payday Loans

    • VIDEO
    May 16, 2013

    Watch the video.

  • TESTIMONY OF ANNAMARIA LUSARDI BEFORE THE U.S. SENATE

    • POLICY BRIEFS
    April 24, 2013

    Summary:  Annamaria Lusardi testifies about the lack of financial capability and literacy among the American people and why financial education in high school is important.

  • Active vs Passive Decisions and Crowd-Out in Retirement Savings Accounts

    • VIDEO
    April 18, 2013

    Watch the video.

  • Predictable Surprise: The Unraveling of the U.S. Retirement System

    • VIDEO
    April 04, 2013

    Watch the video.

  • FINANCIAL LITERACY AROUND THE WORLD (FLAT WORLD)

    • POLICY BRIEFS
    April 01, 2013

    Summary:  Across the world, people are being asked to assume more responsibility for their financial well-being. Because of changes in the pension landscape, notably a shift from defined benefit to defined contribution type pensions, individuals must determine not only how much… Read More »

  • Do Consumers Know How to Value Annuities? Complexity as a Barrier to Annuitization

    • VIDEO
    March 21, 2013

    Watch the video.

  • Retiree Out-of-Pocket Healthcare Spending: A Study of Consumer Expectations and Policy Implications

    • VIDEO
    March 07, 2013

    Watch the video.

  • Financial Education for Adults

    • VIDEO
    December 13, 2012

    Watch the video.

  • Experimental Evidence of the Efficacy of Financial Education for Adults: A Cross Experiment Comparison

    • VIDEO
    December 13, 2012

    Watch the video.

  • Early Withdrawals from Retirement Accounts

    • VIDEO
    November 29, 2012

    Watch the video.

  • Early Withdrawals from Retirement Accounts During the Great Recession

    • VIDEO
    November 29, 2012

    Watch the video.

  • A Complex Portrait: An Examination of Small-Dollar Credit Consumers

    • VIDEO
    November 15, 2012

    Watch the video.

  • Distinguished Speaker: Elsa Fornero Closing Speech Global Financial Literacy Summit 2012

    • VIDEO
    November 14, 2012

    Watch the video. 

  • Annamaria Lusardi introduces Elsa Fornero at the Global Financial Literacy Summit 2012

    • VIDEO
    November 14, 2012

    Watch the video.

  • Financial literacy: Is there a gender issue?

    • VIDEO
    November 14, 2012

    Watch the video.

  • A Complex Portrait: An Examination of Small-Dollar Credit Consumers

    • VIDEO
    November 01, 2012

    Watch the video.

  • How America Pays for College 2012

    • VIDEO
    November 01, 2012

    Watch the video.

  • How America Pays for College 2012

    • VIDEO
    November 01, 2012

    Watch the video.

  • Annamaria Lusardi on Financial Literacy

    • PODCASTS
    October 21, 2012

    Summary: Dr. Annamaria Lusardi is all about encouraging young and not so young people to become financially literate and take the hope out of retirement planning and turn it into that certainty you deserve.

  • Study Regarding Financial Literacy Among Investors

    • VIDEO
    October 18, 2012

    Watch the video.

  • Financial Literacy Among Investors

    • VIDEO
    October 18, 2012

    Watch the video.

  • Social Security and Retirement Decisions: The Impact of Knowledge and Framing

    • VIDEO
    October 04, 2012

    Watch the video.

  • The Impact of Knowledge and Framing

    • VIDEO
    October 04, 2012

    Watch the video.

  • The Impact of Knowledge and Framing

    • VIDEO
    October 04, 2012

    Watch the video.

  • Beyond Our Means: Why America Spends While the World Saves

    • VIDEO
    September 20, 2012

    Watch the video.

  • Beyond Our Means: Why America Spends While the World Saves

    • VIDEO
    September 20, 2012

    Watch the video.

  • HOW EMPLOYERS CAN HELP NEW HIRES SAVE FOR RETIREMENT: BEST PRACTICES THAT BUILD LONG-TERM FINANCIAL SECURITY

    • POLICY BRIEFS
    September 01, 2012

    Summary:  Not all employer-sponsored defined contribution retirement savings plans are created equal—some employer practices and plan designs are more successful than others in helping new hires accumulate a robust retirement nest egg. We reviewed numerous studies conducted by researchers affiliated… Read More »

  • Demonstrating the Returns to Work for Children after SSI

    • VIDEO
    June 21, 2012

    Watch the video.

  • Opening Remarks: Overview of the Financial Literacy Conference 2012

    • VIDEO
    June 21, 2012

    Watch the video.

  • Internet Panel Survey Data on Financial Capability and Behavior: RAND American Life Panel

    • VIDEO
    June 20, 2012

    Watch the video.

  • Social Networks and The Decision To Insure

    • VIDEO
    May 02, 2012

    Watch the video.

  • Social Networks and The Decision To Insure

    • VIDEO
    May 02, 2012

    Watch the video.

  • Financial Literacy and Retirement Planning in the United States

    • PUBLICATIONS
    October 11, 2011

    Abstract: We examine financial literacy in the US using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated. Moreover, Hispanics and African-Americans score the least well on… Read More »

  • Financial literacy and retirement planning in the United States

    • PUBLICATIONS
    October 11, 2011

    Abstract: We examine financial literacy in the US using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated. Moreover, Hispanics and African-Americans score the least well on… Read More »

  • Financial literacy and stock market participation

    • PUBLICATIONS
    August 01, 2011

    Abstract: We have devised two special modules for De Nederlandsche Bank (DNB) Household Survey to measure financial literacy and study its relationship to stock market participation. We find that the majority of respondents display basic financial knowledge and have some… Read More »


Yearly Archive

  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • November 2012
  • October 2012
  • June 2012
  • February 2012

Categories

  • Featured
  • Articles
  • TV
  • Radio/Podcasts
  • WSJ Blog
  • CNBC Op-eds
  • Forbes Op-eds
  • Press Releases

navigate

  • Home
  • Media
  • Events
  • Education
  • Initiatives
  • Research
  • Contact Us
  • Supporters

join our mailing list

GET IN TOUCH

GFLEC
655 Knight Way
Stanford, CA 94305

  • YouTube

COPYRIGHT © 2025 Global Financial Literacy Excellence Center (GFLEC) | Site Credit

Terms of Use & Privacy Notice

Join Our Mailing List

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok