Artikel

The value of financial literacy and financial education for workers

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The level of financial literacy in developed countries is low and contributes to growing wealth inequality. Benefits from increasing the level of financial literacy include more effective saving for retirement and better debt management. However, there are significant costs in terms of time and money of acquiring financial literacy, which imply that the net value of acquiring financial literacy is heterogeneous in the population. This potentially makes designing effective interventions difficult.

Language
Englisch

Bibliographic citation
Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2017 ; Bonn: Institute for the Study of Labor (IZA)

Classification
Wirtschaft
Subject
financial literacy
education
saving

Event
Geistige Schöpfung
(who)
Michaud, Pierre-Carl
Event
Veröffentlichung
(who)
Institute for the Study of Labor (IZA)
(where)
Bonn
(when)
2017

DOI
doi:10.15185/izawol.400
Handle
Last update
10.03.2025, 11:42 AM CET

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Object type

  • Artikel

Associated

  • Michaud, Pierre-Carl
  • Institute for the Study of Labor (IZA)

Time of origin

  • 2017

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