Financial literacy
Subtitle: an essential tool for informed consumer choice?
By: Annamaria Lusardi.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series -- working paper 14084; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 14084.
Publisher: National Bureau of Economic Research
Published: 2008
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments.  However, there is evidence that many individuals are not well-equipped to make sound saving decisions.  This paper demonstrates widespread financial illiteracy among the U.S.  population, particularly among specific demographic groups.  Those with low education, women, African-Americans, and Hispanics display particularly low levels of literacy.  Financial literacy impacts financial decision-making.  Failure to plan for retirement, lack of participation in the stock market, and poor borrowing behavior can all be linked to ignorance of basic financial concepts.  While financial education programs can result in improved saving behavior and financial decision-making, much can be done to improve these programs' effectiveness"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 7/14/2008.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.