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Financial wellness programs in the workplace: Evidence from a Fortune 25 company
September 01, 2022Abstract: 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 »
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Are your employees in good financial shape? Evidence from a Fortune 25 company
July 01, 2022Abstract: Workplace financial education is crucial for helping working adults improve their financial well-being. This report shows the results of a six-week challenge called Fast Track to Financial Health, a joint project between Edelman Financial Engines (EFE) and the George… Read More »
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New Evidence on the Financial Knowledge and Characteristics of Investors
October 09, 2019Abstract: 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 »
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Financial Education, Financial Competence, and Consumer Welfare
December 05, 2017Summary: Employers routinely attempt to address deficiencies in financial decision making among their employees by deploying educational interventions that are brief and laden with motivational rhetoric. The object of the rhetorical elements is to compensate for brevity by making the material… Read More »
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A Method for Evaluating the Quality of Financial Decision Making, with an Application to Financial Education
December 05, 2017Abstract: We introduce a method for measuring the quality of financial decisions built around a notion of financial competence, which gauges the alignment between consumers choices and those they would make if they properly understood their opportunities. We prove our… Read More »
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The Effect of Financial Education on the Quality of Decision Making
June 29, 2015Abstract: We introduce the concept of financial competence, a measure of how closely individuals’ choices align with those they would make if they properly understood their opportunity sets. The concept is firmly rooted in the principles of choice-based behavioral welfare analysis and… Read More »
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Financial Literacy and Economic Outcomes: Evidence and Policy Implications
June 05, 2015Abstract: 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 »