Financial literacy programs
- Teaches program participants key concepts and skills for financial literacy
- Topics covered by these programs include budgeting, managing debt, understanding insurance and healthcare, and setting and achieving financial goals
Strength of evidence
Evidence level: Promising (Third-highest tier)
Low- and moderate-income adults
Outcomes and impact
- Increased knowledge of important financial concepts and skills
- Improved financial outcomes
- Reduced racial and socio-economic disparities
Keys to successful implementation
- Note: This content is under review
- Local financial institutions and business leaders can make for strong partners, leading discussions on financial topics, providing educational materials, and offering guidance and mentorship to participants.
- Financial literacy programs designed for youth can help high school students increase their financial knowledge and improve financial behavior.
- Activity-based learning like simulations and gameified learning can help make program content more engaging.
- Program content should be tailored to the norms, attitudes, and experiences of participant populations.