We like to bring you the most current information relating to financial education. From elementary school to college and beyond, financial education is not only a necessity, but a fundamental topic that educates students and teachers alike on how they can financially prepare for their future. Here are six recent academic journal papers from George Washington University’s online Global Financial Literacy Excellence Center that you might find helpful in thinking about your instruction:

• Teaching Financial Literacy at University: Online and Face-to-Face Evaluations 

This paper shares the results of a study completed at two different universities in Australia  to verify if there was a difference in teaching personal finance online versus face-to-face. The conclusion found that there was no notable distinction between the two ways of presenting the information, as all participants developed a good understanding of the topic. Do you think this is true in high schools too?

• Does Financial Education Impact Financial Literacy and Financial Behavior, and if so, When?

This paper describes the results of a study that detailed how crucial it is for people to have a good financial education—the sooner, the better—so that lessons they learn will stay with them and positively influence their financial behavior throughout their life. 

• On the Effectiveness of Financial Literacy Education: Evidence from the Investor Education Fund

This paper details why government mandated financial literacy should be embedded (the study was done in grades 4-12) in classrooms. The outcome proved that non-profit organizations, such as the Investor Education Fund (IEF), are at the forefront of pushing for financial literacy awareness and influencing good financial behavior.

• Do Individuals Use Credit Cards Rationally?

This paper aims at dispelling the popular belief that most people don’t use credit cards rationally. The study found that the majority of people who don’t use credit cards wisely are older and less financially literate. It’s important to note that this good credit card usage is a financial habit that should be taught in financial education classes so that individuals know what they’re committing to when they get a credit card.

• The Psychology of Millennials

This chapter in an academic journal focuses on how Millennials interact with financial advisors, and how their investing habits differ from previous generations. This paper also found that financial advisors would do well not to listen to how the media portrays Millennials if they ever want to help them with their finances.

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picture credit: http://www.luigiwewegefoundation.com/the-importance-of-financial-literacy/

About the Author

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

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