Brief Can Financial Literacy Enhance Asset Building?
Elizabeth Bell, Robert I. Lerman
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Even when incentives to save and invest are strong, many low- and moderate-income families lack the basic knowledge to manage their income wisely, build wealth, and avoid excessive debt. This brief examines financial literacy research and programs to improve financial knowledge and decisionmaking. While research suggests that existing programs do make a difference in financial behavior, data collection and policy concerns make financial literacy a fertile ground for further development as part of an asset-building agenda.
Research Areas Wealth and financial well-being Families Social safety net
Tags Low-Income Home Energy Assistance Program (LIHEAP) Asset and debts Economic well-being Opportunity and ownership Financial stability