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.

Newly Released Research Brief: Understanding Differences in Financial Well-being Based on Educational Attainment and Gender

With the support of a grant from the FINRA Investor Education Foundation researchers, J. Michael Collins and Carly Urban, conducted a study that examines the financial well-being of young adults through the lens of gender and educational attainment. Using the CFPB’s Financial Well-Being Scale, the research contrasts the financial well-being of men and women among college graduates and high school only graduates.