Teaching Teenagers in Finance: Does It Work?.

Luhrmann, Melanie; Serra-Garcia, Marta; Winter, Joachim (2015): Teaching Teenagers in Finance: Does It Work?. In: Journal of Banking and Finance, Vol. 54: 160 - 174

Abstract

Many initiatives worldwide aim at improving financial literacy through targeted education programs, yet there is little evidence regarding their effectiveness. We examine the impact of a short financial education program on teenagers in German high schools. Our findings reveal that the training program significantly increases teenagers' interest in financial matters and their financial knowledge, especially their ability to properly assess the riskiness of assets. Behaviorally, we observe a decrease in the prevalence of self-reported impulse purchases, but at the same time find no evidence of a significant increase in savings.

• Item Type: Journal article
• Keywords: General Financial Markets: General (includes Measurement and Data) G10, Portfolio Choice; Investment Decisions G11, Financial Institutions and Services: General G20, Education and Research Institutions: General I20, Analysis of Education I21
• Faculties: Economics > Chairs > Chair of Empirical Economics
• Subjects: 300 Social sciences > 330 Economics
• ISSN: 03784266
• Language: English