School, Parents, and Financial Literacy Shape Future Financial Behavior

Antonia Grohmann and Lukas Menkhoff

DIW Economic Bulletin, 2015, vol. 5, issue 30/31, 407-412

Abstract: Why do some people make better financial decisions than others do? The level of financial literacy plays an important role: Quality schooling that also deals with financial issues likewise leads to better financial decisions. However, many studies neglect how parenting also influences financial behavior. This report shows that parents also have an indirect effect on the financial literacy of their adult children; in general, specific financial training actually has less of an effect on financial behavior.

Keywords: Financial Literacy; Financial Education; Financial Behaviour (search for similar items in EconPapers)
JEL-codes: D14 G11 I20 (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.diw.de/documents/publikationen/73/diw_ ... n_bull_2015-30-1.pdf (application/pdf)

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:diw:diwdeb:2015-30-1

Access Statistics for this article

More articles in DIW Economic Bulletin from DIW Berlin, German Institute for Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Bibliothek ().