It's never too late to be financially literate: Evaluating a financial education intervention for adults in Italy

Gabriele Iannotta, Marta Cannistrà and Tommaso Agasisti

Journal of Consumer Affairs, 2024, vol. 58, issue 2, 397-431

Abstract: Financial education represents a powerful tool for improving economic literacy of citizens. This paper presents results from an experiment providing a group of 136 workers in an Italian university (administrative staff) an online, synchronous course. Classes were organized in 5 sessions of 2h each and covered basic topics about personal finance. The effectiveness of the course is assessed through a rigorous randomized controlled trial (RCT). In addition to the analysis of improvements in financial knowledge, financial self‐efficacy and the role of prior attitudes and behaviors were explored. Participants obtained post‐test scores statistically higher than individuals in the control group, with an average effect size of 0.55 SD. The effect is particularly relevant for participants starting with low levels of financial knowledge. Moreover, two novel findings emerge: financial self‐efficacy increases (0.51 SD) after the course, and pre‐treatment individuals' financial attitudes and behaviors shed further light on the financial learning process.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/joca.12592

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jconsa:v:58:y:2024:i:2:p:397-431

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0022-0078

Access Statistics for this article

Journal of Consumer Affairs is currently edited by Sharon Tennyson

More articles in Journal of Consumer Affairs from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().