TY  - UNPD
A1  - Lusardi, Annamaria
T1  - Financial literacy : an essential tool for informed consumer choice?
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2008,19
N2  - 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.
T3  - CFS working paper series - 2008, 19 
KW  - Financial Literacy
KW  - Financial Education
KW  - Saving Decisions
KW  - USA
KW  - Finanzplanung
KW  - Kenntnis
Y1  - 2008
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/5744
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-56927
ER  -