Using data from nine waves of the Health and Retirement Study (HRS), Jason Seligman and Maximilian Schmeiser examine whether existing measures of financial literacy are descriptive and/or predictive of successful household financial management, as well as resilience in the recent financial crisis. We find that once individual characteristics are carefully accounted for in our analysis, … Continue reading Using the Right Yardstick: Assessing Financial Literacy Measures by Way of Financial Well-being
Briefs
Field Experiments on the Impacts of Financial Planning Interventions for Recent Homebuyers
Low and moderate-income households are less likely to plan for long term financial goals, including retirement, and are less likely to seek out assistance with long term financial planning. Offering behavior-based financial planning interventions that leverage technology at teachable moments may prove to be an efficient and effective strategy to reach this vulnerable population. Stephanie … Continue reading Field Experiments on the Impacts of Financial Planning Interventions for Recent Homebuyers
Impact of Financial Counseling on Financial Stability – Analysis of the New York City Model
J. Michael Collins, Cathie Mahon, Monica Martinez, and Karen Walsh studied the impact of financial counseling on financial stability, within the context of methodology employed by the New York City Department of Consumer Affairs Office of Financial Empowerment. Download Brief Financial counseling may be an effective way to improve individuals’ financial behavior and outcomes. However, its … Continue reading Impact of Financial Counseling on Financial Stability – Analysis of the New York City Model
University of Wisconsin-Madison Center for Financial Security 