Schools and financial institutions are increasingly partnering to offer savings account programs to children from elementary to high school to help complement financial education and instill successful financial habits. Available evidence suggests that interacting with a savings account could allow children to learn by testing what they know and reflecting upon their experiences. Download Brief … Continue reading Youth Financial Inclusion: Complementing Financial Education with Account Access
Working Papers
Financial Coaching’s Potential for Enhancing Family Financial Security
Financial coaching is an emerging complement to financial education and counseling. As defined in this article by J. Michael Collins, Peggy Olive and Collin O'Rourke, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching … Continue reading Financial Coaching’s Potential for Enhancing Family Financial Security
Using the Right Yardstick: Assessing Financial Literacy Measures by Way of Financial Well-being
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
University of Wisconsin-Madison Center for Financial Security 