Financial Literacy in Italy: What works among millennials most?
Alessia Sconti ()
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Alessia Sconti: Department of Economics (University of Verona)
No 01/2020, Working Papers from University of Verona, Department of Economics
Nowadays, financial literacy is the most important skill required for tech-savvy millennials. We set up a financial education program called “Futuro Sicuro” on a sample of 650 high school students. This program provides two treatments at the class level, namely 1) a theoretical, rule-of-thumb based treatment with the presence of a financial advisor, and 2) a digitized treatment using an App and websites based on the learn-by-playing rule. The two treatments carry different costs but show similar effects: three weeks after their conclusion, they increase actual financial knowledge, aligning it with the self-assessed one. A follow-up study reveals the persistence of the effects three months later for the traditional course.
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