CFS produced a webinar on October 6, 2020 entitled “Does State-mandated Financial Education Affect Subjective Financial Well-being?”. Associate Professor Carly Urban presented research with CFS Director J. Michael Collins and Research Scientist Jeremy Burke on how state-mandated financial education in high school impacts subjective financial well-being. The research was supported by a grant from the FINRA Investor Education Foundation.
Previous studies show high school financial education helps people improve their credit and other objective outcomes, but does financial education make people feel better about their financial lives? Following the presentation, two leading experts contextualized the study findings, relating them back to policy and community practice. Secretary of the Wisconsin Department of Financial Institutions, Kathy Blumenfeld, spoke about policy changes in required high school financial education. Jill Jones, PhD, Managing Director of Research at the National Endowment for Financial Education, shared perspectives from the education field. The webinar included an audience Q & A session following presentations.
A newly released research brief and paper are available.