Webinar: Does State-mandated Financial Education Affect Subjective Financial Well-being?

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.

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Newly Released Paper and Brief: Does State-mandated Financial Education Affect Financial Well-being?

This paper and brief, authored by Jeremy Burke, J. Michael Collins, and Carly Urban, estimates the causal effect of required high school financial education on the financial well-being of young adults. Financial well-being includes people’s subjective sense of financial management, as well as their confidence in achieving their unique financial goals. This study shows that financial education improves financial well-being, though benefits accrue primarily to men and those who obtain college degrees.

This paper and brief, authored by Jeremy Burke, J. Michael Collins, and Carly Urban, estimates the causal effect of required high school financial education on the financial well-being of young adults. Financial well-being includes people’s subjective sense of financial management, as well as their confidence in achieving their unique financial goals. This study shows that financial education improves financial well-being, though benefits accrue primarily to men and those who obtain college degrees. The research was supported by a grant from the FINRA Investor Education Foundation.