Abstract

http://ssrn.com/abstract=923565
 
 

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Can Personal Financial Management Education Promote Asset Accumulation by the Poor?


John Caskey


Swarthmore College - Economics Department; Bard College - The Levy Economics Institute

March 2006

Networks Financial Institute Policy Brief No. 2006-PB-06

Abstract:     
This paper asks whether personal financial management education is an effective mechanism for helping lower-income households accumulate financial assets and improve credit histories. The paper argues that the best existing studies of the effectiveness of financial literacy initiatives suggest that such initiatives might help lower-income households build savings and improve credit records, but the results are only suggestive due to the limitations of the studies. The paper concludes that a high research priority should be to gathering more robust evidence on whether teaching personal financial management skills to lower-income households can be an effective means to improve their financial situations.

Number of Pages in PDF File: 16

Keywords: personal financial management education, financial literacy, impact evaluation, poverty, asset accumulation

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Date posted: August 10, 2006  

Suggested Citation

Caskey, John, Can Personal Financial Management Education Promote Asset Accumulation by the Poor? (March 2006). Networks Financial Institute Policy Brief No. 2006-PB-06. Available at SSRN: http://ssrn.com/abstract=923565 or http://dx.doi.org/10.2139/ssrn.923565

Contact Information

John Caskey (Contact Author)
Swarthmore College - Economics Department ( email )
Swarthmore, PA 19081
United States
Bard College - The Levy Economics Institute
Blithewood
Annandale-on-Hudson, NY 12504
United States
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