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id="mf-section-0"> Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably.<a href="#cite_note-1">[1]</a> Financially unsophisticated individuals cannot plan financially because of their poor financial knowledge. Financially sophisticated individuals are good at financial calculations; for example they understand <a href="/wiki/Compound_interest" title="Compound interest">compound interest</a>, which helps them to engage in low-credit borrowing. Most of the time, unsophisticated individuals pay high costs for their debt borrowing.<a href="#cite_note-2">[2]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_(13739433415).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a4/Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_%2813739433415%29.jpg/220px-Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_%2813739433415%29.jpg" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a4/Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_%2813739433415%29.jpg/330px-Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_%2813739433415%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a4/Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_%2813739433415%29.jpg/440px-Geraldine_Walsh-_CFPB_Financial_Education_Project_Launch_%2813739433415%29.jpg 2x" data-file-width="1500" data-file-height="1000"></a><figcaption>CFPB board</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:OECD_logo.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a2/OECD_logo.svg/220px-OECD_logo.svg.png" decoding="async" width="220" height="56" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a2/OECD_logo.svg/330px-OECD_logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a2/OECD_logo.svg/440px-OECD_logo.svg.png 2x" data-file-width="200" data-file-height="51"></a><figcaption>Organization for Economic Co-operation and Development</figcaption></figure> Raising interest in <a href="/wiki/Personal_finance" title="Personal finance">personal finance</a> is now a focus of state-run programs in Australia, Canada, Japan, the United Kingdom, and the United States.<a href="#cite_note-FLEC06-3">[3]</a><a href="#cite_note-4">[4]</a> Understanding basic financial concepts allows people to know how to navigate the financial system. People with appropriate financial literacy training make better financial decisions and manage money than those without such training.<a href="#cite_note-5">[5]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Financial_Services_Authority_Seychelles_logo_on_building.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ea/Financial_Services_Authority_Seychelles_logo_on_building.jpg/220px-Financial_Services_Authority_Seychelles_logo_on_building.jpg" decoding="async" width="220" height="107" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ea/Financial_Services_Authority_Seychelles_logo_on_building.jpg/330px-Financial_Services_Authority_Seychelles_logo_on_building.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ea/Financial_Services_Authority_Seychelles_logo_on_building.jpg/440px-Financial_Services_Authority_Seychelles_logo_on_building.jpg 2x" data-file-width="640" data-file-height="311"></a><figcaption><a href="/wiki/Financial_Services_Authority" title="Financial Services Authority">Financial Services Authority</a></figcaption></figure> The Organization for Economic Co-operation and Development (<a href="/wiki/OECD" title="OECD">OECD</a>) started an inter-governmental project in 2003 to provide ways to improve financial education and literacy standards through the development of common financial literacy principles. In March 2008, the OECD launched the International Gateway for Financial Education, which aims to serve as a clearinghouse for financial education programs, information, and research worldwide.<a href="#cite_note-6">[6]</a> In the UK, the alternative term "financial capability" is used by the state and its agencies: the <a href="/wiki/Financial_Services_Authority" title="Financial Services Authority">Financial Services Authority</a> (FSA) in the UK started a national strategy on financial capability in 2003. The US government established its <a href="/wiki/Financial_Literacy_and_Education_Commission" title="Financial Literacy and Education Commission">Financial Literacy and Education Commission</a> in 2003.<a href="#cite_note-7">[7]</a> <div id="toc" class="toc" role="navigation" aria-labelledby="mw-toc-heading"><input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none"><div class="toctitle" lang="en" dir="ltr"><h2 id="mw-toc-heading">Contents</h2><label class="toctogglelabel" for="toctogglecheckbox"></label></div> <ul> <li class="toclevel-1 tocsection-1"><a href="#Definitions_of_financial_literacy">1 Definitions of financial literacy</a></li> <li class="toclevel-1 tocsection-2"><a href="#Academic_research">2 Academic research</a> <ul> <li class="toclevel-2 tocsection-3"><a href="#Measurement">2.1 Measurement</a></li> <li class="toclevel-2 tocsection-4"><a href="#Critical_financial_literacy">2.2 Critical financial literacy</a></li> <li class="toclevel-2 tocsection-5"><a href="#Journal_of_Financial_Literacy_and_Wellbeing">2.3 Journal of Financial Literacy and Wellbeing</a></li> <li class="toclevel-2 tocsection-6"><a href="#Accounting_literacy">2.4 Accounting literacy</a></li> <li class="toclevel-2 tocsection-7"><a href="#Digital_financial_literacy">2.5 Digital financial literacy</a></li> </ul> </li> <li class="toclevel-1 tocsection-8"><a href="#International_findings">3 International findings</a></li> <li class="toclevel-1 tocsection-9"><a href="#Asia%E2%80%93Pacific,_Middle_East,_and_Africa,_North_East">4 Asia–Pacific, Middle East, and Africa, North East</a> <ul> <li class="toclevel-2 tocsection-10"><a href="#Australia">4.1 Australia</a></li> <li class="toclevel-2 tocsection-11"><a href="#India">4.2 India</a></li> <li class="toclevel-2 tocsection-12"><a href="#Saudi_Arabia">4.3 Saudi Arabia</a></li> <li class="toclevel-2 tocsection-13"><a href="#Singapore">4.4 Singapore</a></li> <li class="toclevel-2 tocsection-14"><a href="#South_Korea">4.5 South Korea</a></li> </ul> </li> <li class="toclevel-1 tocsection-15"><a href="#Europe">5 Europe</a> <ul> <li class="toclevel-2 tocsection-16"><a href="#France">5.1 France</a></li> <li class="toclevel-2 tocsection-17"><a href="#Belgium">5.2 Belgium</a></li> <li class="toclevel-2 tocsection-18"><a href="#Switzerland">5.3 Switzerland</a></li> <li class="toclevel-2 tocsection-19"><a href="#United_Kingdom">5.4 United Kingdom</a></li> </ul> </li> <li class="toclevel-1 tocsection-20"><a href="#Americas">6 Americas</a> <ul> <li class="toclevel-2 tocsection-21"><a href="#Canada">6.1 Canada</a></li> <li class="toclevel-2 tocsection-22"><a href="#United_States">6.2 United States</a></li> <li class="toclevel-2 tocsection-23"><a href="#Brazil">6.3 Brazil</a></li> </ul> </li> <li class="toclevel-1 tocsection-24"><a href="#See_also">7 See also</a></li> <li class="toclevel-1 tocsection-25"><a href="#References">8 References</a></li> <li class="toclevel-1 tocsection-26"><a href="#Further_reading">9 Further reading</a></li> <li class="toclevel-1 tocsection-27"><a href="#External_links">10 External links</a></li> </ul> </div> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(1)"><h2 id="Definitions_of_financial_literacy">Definitions of financial literacy</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=1" title="Edit section: Definitions of financial literacy" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-1 collapsible-block" id="mf-section-1"> There is a diversity of definitions used by bodies such as <a href="/wiki/Non-governmental_organization" title="Non-governmental organization">NGOs</a> and <a href="/wiki/Think_tank" title="Think tank">think tanks</a>, but in its broadest sense, financial literacy is an understanding of money.<a href="#cite_note-financialeducatorscouncil.org-8">[8]</a> Some of the definitions below are closely aligned with "skills and knowledge", whereas others take broader views, and some are from academic research which is tested and validated: <ul><li>Effectively taking decisions about money management and ability to make informed decisions is called financial literacy.<a href="#cite_note-9">[9]</a></li> <li>To survive in modern society individuals need to have knowledge about financial literacy.<a href="#cite_note-10">[10]</a></li> <li>Ability to use financial concepts in daily life and make optimal financial decisions is called financial literacy.<a href="#cite_note-11">[11]</a></li> <li>Financial literacy is an ability to effectively manage the economic well-being of individuals with knowledge and financial skills.<a href="#cite_note-12">[12]</a></li> <li>The Government Accountability Office definition (2010) is "the ability to make informed judgments and to take effective actions regarding the current and future use and management of money. It includes the challenges associated with life events such as a job loss, saving for retirement, or paying for a child’s education."<a href="#cite_note-13">[13]</a></li> <li>The Financial Literacy and Education Commission (2020) includes a notion of personal capability in its definition as "the skills, knowledge and tools that equip people to make individual financial decisions and actions to attain their goals; this may also be known as financial capability, especially when paired with access to financial products and services."<a href="#cite_note-14">[14]</a></li> <li>The National Financial Educators Council adds a psychological component defining financial literacy as "possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals."<a href="#cite_note-financialeducatorscouncil.org-8">[8]</a></li> <li>The OECD's <a href="/wiki/Programme_for_International_Student_Assessment" title="Programme for International Student Assessment">Programme for International Student Assessment</a> (PISA) in 2018 published a definition in two parts. The first part refers to kinds of thinking and behaviour, while the second part refers to the purposes for developing the particular literacy. "Financial literacy is the knowledge and understanding of financial concepts and risks, and the skills, motivation and confidence to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts, to improve the financial well-being of individuals and society, and to enable participation in economic life"<a href="#cite_note-15">[15]</a></li> <li>Financial literacy encompasses not only knowledge and skills but also the ability to apply them effectively in real-world situations, making informed financial decisions that align with one's goals and values.</li></ul> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(2)"><h2 id="Academic_research">Academic research</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=2" title="Edit section: Academic research" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-2 collapsible-block" id="mf-section-2"> <div class="mw-heading mw-heading3"><h3 id="Measurement">Measurement</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=3" title="Edit section: Measurement" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Annamaria_Lusardi_standing.jpg" class="mw-file-description"><noscript><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Annamaria_Lusardi_standing.jpg/220px-Annamaria_Lusardi_standing.jpg" decoding="async" width="220" height="241" class="mw-file-element" data-file-width="2041" data-file-height="2238"></noscript><span class="lazy-image-placeholder" style="width: 220px;height: 241px;" data-src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Annamaria_Lusardi_standing.jpg/220px-Annamaria_Lusardi_standing.jpg" data-width="220" data-height="241" data-srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Annamaria_Lusardi_standing.jpg/330px-Annamaria_Lusardi_standing.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Annamaria_Lusardi_standing.jpg/440px-Annamaria_Lusardi_standing.jpg 2x" data-class="mw-file-element"> </a><figcaption>A picture of Dr. Annamaria Lusardi of the George Washington University in 2013.</figcaption></figure> Financial literacy in personal financial planning can be defined as objectively measured financial literacy or as subjectively measured financial literacy.<a href="#cite_note-Lusardi,_A._2014-16">[16]</a> Objectively measured literacy is mainly about the numerical understanding of concepts such as <a href="/wiki/Compound_interest" title="Compound interest">compound interest</a>, <a href="/wiki/Portfolio_investment" title="Portfolio investment">portfolio investment</a>, diversification benefits, and the impact of <a href="/wiki/Inflation" title="Inflation">inflation</a> on financial decisions. Objective financial literacy has been measured with five 5-item tests, which include questions related to interest rates, saving accounts, and inflation. Out of five questions, people who tend[<a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify">clarification needed</a>] to answer three questions correctly counted as low financial literacy.[<a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify">clarification needed</a>]<a href="#cite_note-17">[17]</a><a href="#cite_note-18">[18]</a><a href="#cite_note-19">[19]</a> Subjective financial literacy can be defined as the self-perception of individuals about their financial literacy. Luradi and Mitchell (2014) identified that people rate their subjective financial literacy higher than objective financial literacy because of their behavioral biases when judging their financial knowledge subjectively.<a href="#cite_note-Lusardi,_A._2014-16">[16]</a> People often misestimate their financial knowledge.<a href="#cite_note-20">[20]</a> <div class="mw-heading mw-heading3"><h3 id="Critical_financial_literacy">Critical financial literacy</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=4" title="Edit section: Critical financial literacy" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Community_organizing" title="Community organizing">Community organizing</a>; <a href="/wiki/Critical_consciousness" title="Critical consciousness">Critical consciousness</a>; <a href="/wiki/Environmental,_social_and_corporate_governance" class="mw-redirect" title="Environmental, social and corporate governance">Environmental, social and corporate governance</a>; and <a href="/wiki/Pluralism_in_economics" title="Pluralism in economics">Pluralism in economics</a></div> Some financial literacy researchers have raised political questions about the character of financial literacy education, arguing that it justifies the return of greater <a href="/wiki/Financial_risk" title="Financial risk">financial risk</a> (e.g. tuition fees, pensions, health care costs, etc.) from corporations and governments back to individuals. Many of these researchers argue for a financial literacy education that is more critically oriented and broader in focus: an education that helps individuals better understand systemic <a href="/wiki/Injustice" title="Injustice">injustice</a> and <a href="/wiki/Social_exclusion" title="Social exclusion">social exclusion</a>, rather than one that understands financial failure as an individual problem and the character of financial risk as apolitical. Many researchers work within <a href="/wiki/Social_justice" title="Social justice">social justice</a>, <a href="/wiki/Critical_pedagogy" title="Critical pedagogy">critical pedagogy</a>, <a href="/wiki/Feminist_theory" title="Feminist theory">feminist</a> and <a href="/wiki/Critical_race_theory" title="Critical race theory">critical race theory</a> paradigms.<a href="#cite_note-21">[21]</a><a href="#cite_note-22">[22]</a><a href="#cite_note-23">[23]</a><a href="#cite_note-24">[24]</a><a href="#cite_note-25">[25]</a><a href="#cite_note-26">[26]</a>[<a href="/wiki/Wikipedia:Citing_sources#Bundling_citations" title="Wikipedia:Citing sources">excessive citations</a>] <div class="mw-heading mw-heading3"><h3 id="Journal_of_Financial_Literacy_and_Wellbeing">Journal of Financial Literacy and Wellbeing</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=5" title="Edit section: Journal of Financial Literacy and Wellbeing" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> The Journal of Financial Literacy and Wellbeing, published by <a href="/wiki/Cambridge_University_Press" title="Cambridge University Press">Cambridge University Press</a>, is an open-access academic journal established in April 2023. It publishes rigorous research on financial literacy and financial well-being. It aims to inform public policies as public, private and civil society strategies and activities, with the ultimate objective of improving the financial literacy, resilience, and well-being of individuals and micro and small entrepreneurs.<a href="#cite_note-27">[27]</a> This journal covers the topics including financial knowledge, financial attitudes and skills. This journal also includes research on related fields like financial well-being.[<a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed">citation needed</a>] <div class="mw-heading mw-heading3"><h3 id="Accounting_literacy">Accounting literacy</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=6" title="Edit section: Accounting literacy" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> Accounting literacy refers to the ability to read and analyse the financial statements of a company or individuals and understand the impact of financial decisions. This can be helpful for investors, managers, and individuals. Accounting literacy can be combined with financial planning, tax planning and understanding the financial health of the company.<a href="#cite_note-28">[28]</a> Academic researchers have explored the relationship between financial literacy and <a href="/w/index.php?title=Accounting_literacy&action=edit&redlink=1" class="new" title="Accounting literacy (page does not exist)">accounting literacy</a>. <a href="/wiki/Roman_L._Weil" title="Roman L. Weil">Roman L. Weil</a> defines financial literacy as "the ability to understand the important accounting judgments management makes, why management makes them, and how management can use those judgments to manipulate financial statements".<a href="#cite_note-29">[29]</a> The 1999 Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees recommended that publicly traded companies have at least three members with "a certain basic 'financial literacy'. Such 'literacy' signifies the ability to read and understand fundamental financial statements, including a company's balance sheet, income statement and cash flow statement."<a href="#cite_note-30">[30]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Bloomberg_Terminal_Museum.jpg" class="mw-file-description"><noscript><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/12/Bloomberg_Terminal_Museum.jpg/220px-Bloomberg_Terminal_Museum.jpg" decoding="async" width="220" height="163" class="mw-file-element" data-file-width="4160" data-file-height="3088"></noscript><span class="lazy-image-placeholder" style="width: 220px;height: 163px;" data-src="//upload.wikimedia.org/wikipedia/commons/thumb/1/12/Bloomberg_Terminal_Museum.jpg/220px-Bloomberg_Terminal_Museum.jpg" data-width="220" data-height="163" data-srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/12/Bloomberg_Terminal_Museum.jpg/330px-Bloomberg_Terminal_Museum.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/12/Bloomberg_Terminal_Museum.jpg/440px-Bloomberg_Terminal_Museum.jpg 2x" data-class="mw-file-element"> </a><figcaption>Fintech</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Digital_financial_literacy">Digital financial literacy</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=7" title="Edit section: Digital financial literacy" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> Digital financial literacy is all about the combination of Fintech and financial literacy. Digital Financial Literacy combines objective financial knowledge with four dimensions of digital literacy including digital knowledge, awareness of digital financial services, tacit knowledge of using digital financial services, and the ability to avoid digital fraud.<a href="#cite_note-31">[31]</a> Digital Financial Literacy is the ability of individuals to use digital devices to make financial decisions. There is a need for digital financial literacy across all consumers because of increasing fraud victimization due to digitalization, which prone individuals to misinformed financial decisions.<a href="#cite_note-32">[32]</a> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(3)"><h2 id="International_findings">International findings</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=8" title="Edit section: International findings" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-3 collapsible-block" id="mf-section-3"> An international <a href="/wiki/OECD" title="OECD">OECD</a> study was published in late 2005[<a href="/wiki/Wikipedia:Cleanup" title="Wikipedia:Cleanup">Out of date</a>] analysing financial literacy surveys in OECD countries. A selection of findings<a href="#cite_note-Heck06-33">[33]</a> included: <ul><li>In Australia, 67 percent of respondents indicated that they understood the concept of compound interest, yet when asked to solve a problem using the concept, only 28% had a good understanding.</li> <li>A British survey found that consumers do not actively seek out financial information. The information they receive is acquired by chance, for example, by picking up a pamphlet at a bank or having a chance talk with a bank employee.</li> <li>A Canadian survey found that respondents considered choosing the right investments more stressful than going to the dentist.</li> <li>A survey of Korean high-school students showed that they had failing scores—that is, they answered fewer than 60 percent of the questions correctly—on tests designed to measure their ability to choose and manage a credit card, their knowledge about saving and investing for retirement, and their awareness of risk and the importance of insuring against it.</li> <li>A survey in the US found that four out of ten American workers need to be saving for retirement.</li></ul> "Yet it is encouraging that the few financial education programmes which have been evaluated are reasonably effective. Research in the US shows that workers increase their participation in <a href="/wiki/401(k)" title="401(k)">401(k)</a> plans (a type of retirement plan, with special tax advantages, which allows employees to save and invest for their retirement) when employers offer financial education programmes, whether in the form of brochures or seminars."<a href="#cite_note-Heck06-33">[33]</a><a href="#cite_note-34">[34]</a> However, academic analyses of financial education have yet to find no evidence of measurable success at improving participants' financial well-being.<a href="#cite_note-35">[35]</a><a href="#cite_note-36">[36]</a> According to the 2014 <a href="/wiki/Asian_Development_Bank" title="Asian Development Bank">Asian Development Bank</a> survey, more <a href="/wiki/Mongolia" title="Mongolia">Mongolians</a> have expanded their financial options, and for instance now compare the interest rates of loans and savings services through the successful launch of the TV drama with a focus on the fiscal literacy of poor and non-poor vulnerable households.<a href="#cite_note-blogs.adb.org-37">[37]</a> Given that 80% of Mongolians cited TV as their main source of information, TV serial dramas were identified as the most effective vehicle for messages on financial literacy.<a href="#cite_note-blogs.adb.org-37">[37]</a> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(4)"><h2 id="Asia–Pacific,_Middle_East,_and_Africa,_North_East">Asia–Pacific, Middle East, and Africa, North East</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=9" title="Edit section: Asia–Pacific, Middle East, and Africa, North East" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-4 collapsible-block" id="mf-section-4"> A survey of women consumers across Asia Pacific Middle East Africa (APMEA) comprises basic money management, financial planning and investment. The top ten of APMEA Women MasterCard's Financial Literacy Index are Thailand 73.9, New Zealand 71.3, Australia 70.2, Vietnam 70.1, Singapore 69.4, Taiwan 68.7, Philippines 68.2, Hong Kong 68.0, Indonesia 66.5 and Malaysia 66.0.<a href="#cite_note-38">[38]</a> <div class="mw-heading mw-heading3"><h3 id="Australia">Australia</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=10" title="Edit section: Australia" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> The Australian Government established a National Consumer and Financial Literacy Taskforce in 2004, which recommended the establishment of the Financial Literacy Foundation in 2005. In 2008, the functions of the Foundation were transferred to the <a href="/wiki/Australian_Securities_and_Investments_Commission" title="Australian Securities and Investments Commission">Australian Securities and Investments Commission</a> (ASIC). The Australian Government also runs a range of programs (such as Money Management) to improve the financial literacy of its Indigenous population, particularly those living in remote communities. In 2011 ASIC released a National Financial Literacy Strategy—informed by an earlier ASIC research report 'Financial Literacy and Behavioural Change'—to enhance the financial well-being of all Australians by improving financial literacy levels. The strategy has four pillars:<a href="#cite_note-pillars-39">[39]</a> <ol><li>Education</li> <li>Trusted and independent information, tools and support</li> <li>Additional solutions to drive improved financial well-being and behavioural change.</li> <li>Partnerships with the sectors involved with financial literacy, measuring its impact and promoting best practice.</li></ol> ASIC's <a href="/wiki/MoneySmart_(website)" class="mw-redirect" title="MoneySmart (website)">MoneySmart website</a> was one of the key initiatives in the government's strategy. It replaced the FIDO and Understanding Money websites. ASIC also has a MoneySmart Teaching website<a href="#cite_note-40">[40]</a> for teachers and educators. It provides professional learning and other resources to help educators integrate consumer and financial literacy into teaching and learning programs. The Know Risk Network of web and phone apps, newsletters, videos, and websites<a href="#cite_note-41">[41]</a> was developed by the insurance membership body <a href="/wiki/ANZIIF" title="ANZIIF">ANZIIF</a> to educate consumers on insurance and risk management. <div class="mw-heading mw-heading3"><h3 id="India">India</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=11" title="Edit section: India" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> National Centre for Financial Education (NCFE), a <a href="/wiki/Nonprofit_organization" title="Nonprofit organization">non-profit</a> company, was created under section 8 of <a href="/wiki/Companies_Act_2013" title="Companies Act 2013">Companies Act 2013</a>, to promote financial literacy in India.<a href="#cite_note-:0-42">[42]</a> It is promoted by four major <a href="/wiki/Financial_regulators" class="mw-redirect" title="Financial regulators">financial regulators</a>, <a href="/wiki/Reserve_Bank_of_India" title="Reserve Bank of India">Reserve Bank of India</a>, <a href="/wiki/Securities_and_Exchange_Board_of_India" title="Securities and Exchange Board of India">SEBI</a>, <a href="/wiki/Insurance_Regulatory_and_Development_Authority" title="Insurance Regulatory and Development Authority">IRDA</a> and <a href="/wiki/Pension_Fund_Regulatory_and_Development_Authority" title="Pension Fund Regulatory and Development Authority">PFRDA</a>.<a href="#cite_note-43">[43]</a> NCFE conducted a benchmark financial literacy survey in 2015 to find the level of financial awareness in India.<a href="#cite_note-44">[44]</a> It organises various programs to improve financial literacy including collaborating with schools and developing new curriculum to include financial management concepts.<a href="#cite_note-:1-45">[45]</a> It also conducts a yearly financial literacy test.<a href="#cite_note-:0-42">[42]</a> The topics NCFE covers in its awareness programs include investments, types of bank accounts, services offered by banks, <a href="/wiki/Aadhaar" title="Aadhaar">Aadhaar cards</a>, <a href="/wiki/Demat_account" title="Demat account">demat accounts</a>, <a href="/wiki/PAN_card" class="mw-redirect" title="PAN card">pan cards</a>, power of <a href="/wiki/Compound_interest" title="Compound interest">compounding</a>, digital payments, protection against financial frauds etc.<a href="#cite_note-:1-45">[45]</a> <div class="mw-heading mw-heading3"><h3 id="Saudi_Arabia">Saudi Arabia</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=12" title="Edit section: Saudi Arabia" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> A nationwide survey was conducted by SEDCO Holding in Saudi Arabia in 2012 to understand the youth's financial literacy level.<a href="#cite_note-46">[46]</a> The survey involved a thousand young Saudi nationals, and the results showed that only 11 percent kept track of their spending, although 75 percent thought they understood the basics of money management. An in-depth analysis of SEDCO's survey revealed that 45 percent of youngsters did not save any money, while only 20 percent saved 10 percent of their monthly income. Regarding spending habits, the study indicated that items such as mobile phones and travel accounted for nearly 80 percent of purchases. Regarding financing their lifestyle, 46 percent of youth relied on their parents to fund big ticket items. 90 percent of the respondents stated they wanted to increase their financial knowledge. <div class="mw-heading mw-heading3"><h3 id="Singapore">Singapore</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=13" title="Edit section: Singapore" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> In Singapore, the National Institute of Education Singapore established the inaugural Financial Literacy Hub for Teachers<a href="#cite_note-47">[47]</a> in 2007 to empower school teachers to infuse financial literacy into core curriculum subjects to embed pedagogically sound activities to engage students in learning. Such day-to-day relevant and authentic illustrations enhance the experiential learning to build financial capability in youth. Integral to evidence-based practices in schools, research on financial literacy is spearheaded by the Hub, which has published numerous impact studies on the effectiveness of financial literacy programs and on the perceptions and attitudes of teachers and students. The Singapore government through the Monetary Authority of Singapore funded the setting up of the Institute for Financial Literacy<a href="#cite_note-48">[48]</a> in July 2012. The institute is managed jointly by MoneySense<a href="#cite_note-49">[49]</a> (a national financial education program) and the Singapore Polytechnic.<a href="#cite_note-50">[50]</a> This Institute aims to build core financial capabilities across a broad spectrum of the Singapore population by providing free and unbiased financial education programs to working adults and their families. From July 2012 to May 2017, the Institute reached out to more than 110,000 people in Singapore via workshops and talks. <div class="mw-heading mw-heading3"><h3 id="South_Korea">South Korea</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=14" title="Edit section: South Korea" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> South Korea is recognized as one of the top 10 global economies, yet there are varying levels of financial literacy among its citizens. According to a 2021 survey conducted by the Ministry of Economy and Finance, the average financial literacy score in South Korea was 56.3 out of 100.<a href="#cite_note-51">[51]</a> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(5)"><h2 id="Europe">Europe</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=15" title="Edit section: Europe" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-5 collapsible-block" id="mf-section-5"> <div class="mw-heading mw-heading3"><h3 id="France">France</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=16" title="Edit section: France" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> In 2016, France introduced a national economic, budgetary and financial education (EDUFI) strategy based on <a href="/wiki/OECD" title="OECD">OECD</a> principles.<a href="#cite_note-52">[52]</a> The government designated the <a href="/wiki/Bank_of_France" title="Bank of France">Banque de France</a> as the national operator in charge of implementing the policy.<a href="#cite_note-:2-53">[53]</a> This government-led strategy aims to promote financial literacy in French society. Measures include financial education and budget planning courses for young people. Entrepreneurs and financially vulnerable individuals also receive support to develop skills.<a href="#cite_note-:2-53">[53]</a> The Banque de France conducts periodic surveys on the level of understanding, attitudes and behaviour of the French population regarding budgetary and financial matters. It also raises awareness on topics such as over-indebtedness, bank inclusion schemes, means of payment, <a href="/wiki/Bank_account" title="Bank account">bank accounts</a>, credit, savings and insurance. The <a href="/wiki/Cit%C3%A9_de_l%27%C3%A9conomie_et_de_la_monnaie" title="Cité de l'économie et de la monnaie">Cité de l'Économie</a> opened to the public in June 2019. This institution is the first French museum dedicated entirely to fostering economic literacy in an instructive and entertaining way. The Banque de France funds it in cooperation with several partners, including the Ministry for Education, the Institut pour l'Éducation Financière du Public (IEFP – Institute for Public Financial Education) and the <a href="/wiki/Biblioth%C3%A8que_nationale_de_France" title="Bibliothèque nationale de France">Bibliothèque Nationale de France</a>.<a href="#cite_note-54">[54]</a> <div class="mw-heading mw-heading3"><h3 id="Belgium">Belgium</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=17" title="Edit section: Belgium" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> The <a href="/wiki/Financial_Services_and_Markets_Authority_(Belgium)" title="Financial Services and Markets Authority (Belgium)">FSMA</a> is tasked with contributing to better financial literacy of savers and <a href="/wiki/Investor" title="Investor">investors</a> enabling individual savers, insured persons, <a href="/wiki/Shareholder" title="Shareholder">shareholders</a> and investors in Belgium to be in a better position in their relationships with their financial institutions. As a result, they will be less likely to purchase products unsuited to their profile.<a href="#cite_note-55">[55]</a> <div class="mw-heading mw-heading3"><h3 id="Switzerland">Switzerland</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=18" title="Edit section: Switzerland" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> A study measured financial literacy among 1,500 households in German-speaking Switzerland.<a href="#cite_note-Brown,_M._and_R._Graf-56">[56]</a> Testing the three concepts compound interest, inflation, and risk diversification, results show that the level of financial literacy in Switzerland is high compared to results for other European countries or the US population. Results of the study further show that higher financial literacy is correlated with financial market participation and mortgage borrowing. A related study among 15-year-old students in the <a href="/wiki/Canton_of_Fribourg" title="Canton of Fribourg">Canton of Fribourg</a> shows substantial differences in financial literacy between French- and German-speaking students.<a href="#cite_note-57">[57]</a> The <a href="/wiki/Swiss_National_Bank" title="Swiss National Bank">Swiss National Bank</a> aims at improving financial literacy through its initiative Iconomix which targets upper secondary school students.<a href="#cite_note-SNB-58">[58]</a> The new public school curriculum will cover financial literacy in public schools. <div class="mw-heading mw-heading3"><h3 id="United_Kingdom">United Kingdom</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=19" title="Edit section: United Kingdom" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> The UK has a dedicated body to promote financial capability – <a href="/wiki/The_Money_Advice_Service" class="mw-redirect" title="The Money Advice Service">the Money Advice Service</a>. The Financial Services Act 2010 included a provision for the <a href="/wiki/Financial_Services_Authority" title="Financial Services Authority">Financial Services Authority</a> (FSA) to establish the <a href="/wiki/Consumer_Financial_Education_Body" title="Consumer Financial Education Body">Consumer Financial Education Body</a> (CFEB). From April 26, 2010, CFEB continued the work of the FSA's Financial Capability Division independently of the FSA, and on April 4, 2011, was rebranded as the Money Advice Service. The strategy previously involved the FSA spending about £10 million a year<a href="#cite_note-FcUK-59">[59]</a> across a seven-point plan. The priority areas were: <ul><li>New parents</li> <li>Schools (a program being delivered by <a href="/w/index.php?title=Pfeg&action=edit&redlink=1" class="new" title="Pfeg (page does not exist)">pfeg</a>)</li> <li>Young adults</li> <li>Workplace</li> <li>Consumer communications</li> <li>Online tools</li> <li>Money advice</li></ul> A baseline survey<a href="#cite_note-FcUK-59">[59]</a> conducted 5,300 interviews across the UK in 2005. The report identified four themes: <ul><li>Many people were failing to plan ahead.</li> <li>Many people were taking on financial risks without realising it.</li> <li>Problems of debt were severe for a small proportion of the population, and many more people may be affected by an economic downturn.</li> <li>The under-40s were, on average, less financially capable than their elders.</li></ul> "In short, unless steps are taken to improve levels of financial capability, we are storing up trouble for the future."<a href="#cite_note-FcUK-59">[59]</a> Numerous charities in the United Kingdom also work to improve financial literacy, such as <a href="/wiki/MyBnk" title="MyBnk">MyBank</a>, <a href="/wiki/Citizens_Advice_Bureau" class="mw-redirect" title="Citizens Advice Bureau">Citizens Advice Bureau</a>, and the <a href="/w/index.php?title=Personal_Finance_Education_Group&action=edit&redlink=1" class="new" title="Personal Finance Education Group (page does not exist)">Personal Finance Education Group</a>. Financial literacy within the <a href="/wiki/British_Armed_Forces" title="British Armed Forces">UK's armed forces</a> is provided through the <a href="/wiki/MoneyForce" title="MoneyForce">MoneyForce</a> program, run by the <a href="/wiki/Royal_British_Legion" title="Royal British Legion">Royal British Legion</a> in association with the <a href="/wiki/Ministry_of_Defence_(United_Kingdom)" title="Ministry of Defence (United Kingdom)">Ministry of Defence</a> and the Money Advice Service.<a href="#cite_note-60">[60]</a> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(6)"><h2 id="Americas">Americas</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=20" title="Edit section: Americas" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-6 collapsible-block" id="mf-section-6"> <div class="mw-heading mw-heading3"><h3 id="Canada">Canada</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=21" title="Edit section: Canada" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> In 2006, Canadian securities regulators commissioned two national investor surveys<a href="#cite_note-61">[61]</a><a href="#cite_note-62">[62]</a> to gauge people's knowledge and experience with investments and fraud. The results from both studies demonstrated that there is a need to better to educate and inform investors about <a href="/wiki/Capital_markets" class="mw-redirect" title="Capital markets">capital markets</a> and <a href="/wiki/Investment_fraud" class="mw-redirect" title="Investment fraud">investment fraud</a>. Education in this area is particularly important as investors take on more risk and responsibility of managing their retirement savings, and a large <a href="/wiki/Baby_boomer" class="mw-redirect" title="Baby boomer">baby boomer</a> population enters the retirement years across North America. In 2005, the <a href="/wiki/British_Columbia_Securities_Commission" title="British Columbia Securities Commission">British Columbia Securities Commission</a> (BCSC) funded the Eron Mortgage Study.<a href="#cite_note-63">[63]</a> It was the first systematic study of a single <a href="/wiki/Investment_fraud" class="mw-redirect" title="Investment fraud">investment fraud</a>, focusing on more than 2,200 Eron Mortgage investors. Among other things, the report identified that investors approaching retirement without adequate resources and affluent middle-aged men were vulnerable to investment fraud. The report suggests investor education will become even more important as the baby boomer generation enters retirement. In Canada, <a href="/wiki/Financial_Literacy_Month" title="Financial Literacy Month">Financial Literacy Month</a> takes place during the month of November to encourage Canadians to take control of their financial well-being and invest into their financial futures by learning about topics of personal finance. Canada has also established a government entity to "promotes financial education and raises consumers' awareness of their rights and responsibilities".<a href="#cite_note-canada.ca-64">[64]</a> The agency also "ensures federally regulated financial entities comply with <a href="/wiki/Consumer_protection" title="Consumer protection">consumer protection</a> measures.<a href="#cite_note-canada.ca-64">[64]</a> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=22" title="Edit section: United States" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> In the US, a national nonprofit organization, the <a href="/wiki/Jump%24tart_Coalition_for_Personal_Financial_Literacy" class="mw-redirect" title="Jump$tart Coalition for Personal Financial Literacy">Jump$tart Coalition for Personal Financial Literacy</a>, is a collection of corporate, academic, non-profit and government organizations that work for financial education since 1995. Another national nonprofit organization in the US, the National Association of Investors (NAIC), has focused their financial literacy efforts specifically on investment education since 1951. The <a href="/wiki/United_States_Department_of_the_Treasury" title="United States Department of the Treasury">United States Department of the Treasury</a> established its <a href="/wiki/Office_of_Financial_Education" class="mw-redirect" title="Office of Financial Education">Office of Financial Education</a> in 2002; and the <a href="/wiki/United_States_Congress" title="United States Congress">US Congress</a> established the <a href="/wiki/Financial_Literacy_and_Education_Commission" title="Financial Literacy and Education Commission">Financial Literacy and Education Commission</a> under the Financial Literacy and Education Improvement Act in 2003. The Commission published its National Strategy on Financial Literacy<a href="#cite_note-FLEC06-3">[3]</a> in 2006.<a href="#cite_note-65">[65]</a> While many organizations have supported the financial literacy movement, they may differ on their definitions of financial literacy. In a report by the President's Advisory Council on Financial Literacy, the authors called for a consistent definition of financial literacy by which financial literacy education programs can be judged. They defined financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being."<a href="#cite_note-PAC-66">[66]</a> The <a href="/wiki/Council_for_Economic_Education" title="Council for Economic Education">Council for Economic Education</a> (CEE) conducted a 2009 Survey of the States and found that 44 states currently have K-12 personal finance education or guidelines in place.<a href="#cite_note-67">[67]</a> However, "only 17 states require high school students to take a course in personal finance."<a href="#cite_note-68">[68]</a> The Center For Financial Literacy at <a href="/wiki/Champlain_College" title="Champlain College">Champlain College</a> conducts a biannual survey of statewide high school financial literacy requirements across the nation. The 2017 survey found that Utah had the highest state requirement in the nation, while in <a href="/wiki/Alaska" title="Alaska">Alaska</a>, <a href="/wiki/Delaware" title="Delaware">Delaware</a>, <a href="/wiki/Washington_(state)" title="Washington (state)">Washington</a>, <a href="/wiki/District_of_Columbia" class="mw-redirect" title="District of Columbia">District of Columbia</a>, <a href="/wiki/Hawaii" title="Hawaii">Hawaii</a>, <a href="/wiki/Rhode_Island" title="Rhode Island">Rhode Island</a> and <a href="/wiki/South_Dakota" title="South Dakota">South Dakota</a>, students are entirely dependent on the initiative of their local school board.<a href="#cite_note-69">[69]</a> In July 2010, the United States Congress passed the <a href="/wiki/Dodd-Frank_Wall_Street_Reform_and_Consumer_Protection_Act" class="mw-redirect" title="Dodd-Frank Wall Street Reform and Consumer Protection Act">Dodd-Frank Wall Street Reform and Consumer Protection Act</a> (Dodd-Frank Act), which created the <a href="/wiki/Consumer_Financial_Protection_Bureau" title="Consumer Financial Protection Bureau">Consumer Financial Protection Bureau</a> (CFPB). The CFPB has been tasked, among other mandates, with promoting financial education through its Consumer Engagement & Education group.<a href="#cite_note-70">[70]</a> <div class="mw-heading mw-heading3"><h3 id="Brazil">Brazil</h3> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=23" title="Edit section: Brazil" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div> Between 2018 and 2019, surveys were performed for a myriad of players in the Brazilian financial market. Among them, <a href="/wiki/B3_(stock_exchange)" title="B3 (stock exchange)">B3 (stock exchange)</a>, ANBIMA, CVM e Ilumeo Institute.<a href="#cite_note-71">[71]</a> Following these surveys, Brazil defined action plans, the National Strategy about Financial Education (ENEF).<a href="#cite_note-72">[72]</a> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(7)"><h2 id="See_also">See also</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=24" title="Edit section: See also" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-7 collapsible-block" id="mf-section-7"> <ul><li><a href="/wiki/Financial_deepening" title="Financial deepening">Financial deepening</a></li> <li><a href="/wiki/Financial_ethics" class="mw-redirect" title="Financial ethics">Financial ethics</a></li> <li><a href="/wiki/Financial_inclusion" title="Financial inclusion">Financial inclusion</a></li> <li><a href="/wiki/Financial_literacy_curriculum" title="Financial literacy curriculum">Financial literacy curriculum</a></li> <li><a href="/wiki/Financial_Literacy_Month" title="Financial Literacy Month">Financial Literacy Month</a></li> <li><a href="/wiki/Financial_regulation" title="Financial regulation">Financial regulation</a></li> <li><a href="/wiki/Financial_social_work" title="Financial social work">Financial social work</a></li> <li><a href="/wiki/Information_literacies" class="mw-redirect" title="Information literacies">Information literacies</a></li></ul> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(8)"><h2 id="References">References</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=25" title="Edit section: References" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-8 collapsible-block" id="mf-section-8"> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><a href="#cite_ref-1">^</a> Consumer Financial Protection Bureau (CFPB). 2015. 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Retrieved 2020-06-06.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Os+desafios+da+educa%C3%A7%C3%A3o+financeira+no+Brasil&rft.pub=Medium&rft.date=2020-02-04&rft_id=https%3A%2F%2Fmedium.com%2Ffinan%25C3%25A7as-tecnologia%2Fos-desafios-da-educa%25C3%25A7%25C3%25A3o-financeira-no-brasil-8e35b0d04757&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"> </li> <li id="cite_note-72"><a href="#cite_ref-72">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.vidaedinheiro.gov.br/">"ENEF Brazil - National Strategy about Financial Education"</a>. ENEF. Retrieved 2020-06-06.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=ENEF+Brazil+-+National+Strategy+about+Financial+Education&rft.pub=ENEF&rft_id=https%3A%2F%2Fwww.vidaedinheiro.gov.br%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"> </li> </ol></div></div> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(9)"><h2 id="Further_reading">Further reading</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=26" title="Edit section: Further reading" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-9 collapsible-block" id="mf-section-9"> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFApreaWuttkeBreuerKoh2016" class="citation book cs1">Aprea, Carmela; Wuttke, Eveline; Breuer, Klaus; Koh, Noi Keng; Davies, Peter; Greimel-Fuhrmann, Bettina; Lopus, Jane S., eds. (2016). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=qLPWCwAAQBAJ">International Handbook of Financial Literacy</a>. Singapore: <a href="/wiki/Springer-Verlag" class="mw-redirect" title="Springer-Verlag">Springer-Verlag</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-981-10-0360-8">10.1007/978-981-10-0360-8</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9789811003585" title="Special:BookSources/9789811003585"><bdi>9789811003585</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/948244069">948244069</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:156684296">156684296</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=International+Handbook+of+Financial+Literacy&rft.place=Singapore&rft.pub=Springer-Verlag&rft.date=2016&rft_id=info%3Aoclcnum%2F948244069&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A156684296%23id-name%3DS2CID&rft_id=info%3Adoi%2F10.1007%2F978-981-10-0360-8&rft.isbn=9789811003585&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DqLPWCwAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFArthur2019" class="citation book cs1">Arthur, Chris (2019). <a rel="nofollow" class="external text" href="https://www.researchgate.net/publication/327404833">"Financial Literacy and Entrepreneurship Education: An Ethics for Capital or the Other?"</a>. In Saltman, Kenneth J.; Means, Alexander J. (eds.). The Wiley Handbook of Global Educational Reform. Wiley Handbooks in Education. Hoboken, NJ: <a href="/wiki/Wiley-Blackwell" title="Wiley-Blackwell">Wiley-Blackwell</a>. pp. 435–465. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1002%2F9781119082316.ch21">10.1002/9781119082316.ch21</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781119083078" title="Special:BookSources/9781119083078"><bdi>9781119083078</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/1048657132">1048657132</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:158742324">158742324</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Financial+Literacy+and+Entrepreneurship+Education%3A+An+Ethics+for+Capital+or+the+Other%3F&rft.btitle=The+Wiley+Handbook+of+Global+Educational+Reform&rft.place=Hoboken%2C+NJ&rft.series=Wiley+Handbooks+in+Education&rft.pages=435-465&rft.pub=Wiley-Blackwell&rft.date=2019&rft_id=info%3Aoclcnum%2F1048657132&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A158742324%23id-name%3DS2CID&rft_id=info%3Adoi%2F10.1002%2F9781119082316.ch21&rft.isbn=9781119083078&rft.aulast=Arthur&rft.aufirst=Chris&rft_id=https%3A%2F%2Fwww.researchgate.net%2Fpublication%2F327404833&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBirkenmaierSherradenCurley2013" class="citation book cs1">Birkenmaier, Julie; Sherraden, Margaret S.; Curley, Jami, eds. (2013). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=atw3x4ZhAPQC">Financial Capability and Asset Development: Research, Education, Policy, And Practice</a>. Oxford; New York: <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Facprof%3Aoso%2F9780199755950.001.0001">10.1093/acprof:oso/9780199755950.001.0001</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780199755950" title="Special:BookSources/9780199755950"><bdi>9780199755950</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/806221695">806221695</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Financial+Capability+and+Asset+Development%3A+Research%2C+Education%2C+Policy%2C+And+Practice&rft.place=Oxford%3B+New+York&rft.pub=Oxford+University+Press&rft.date=2013&rft_id=info%3Aoclcnum%2F806221695&rft_id=info%3Adoi%2F10.1093%2Facprof%3Aoso%2F9780199755950.001.0001&rft.isbn=9780199755950&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Datw3x4ZhAPQC&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBryant2013" class="citation book cs1"><a href="/wiki/John_Hope_Bryant" title="John Hope Bryant">Bryant, John Hope</a> (2013). <a rel="nofollow" class="external text" href="https://archive.org/details/practicingsustai0000unse/page/95">"Economic Growth and Sustainability Rooted in Financial Literacy"</a>. In Madhavan, Guruprasad; <a href="/wiki/Barbara_Oakley" title="Barbara Oakley">Oakley, Barbara</a>; Green, David; Koon, David; Low, Penny (eds.). <a rel="nofollow" class="external text" href="https://archive.org/details/practicingsustai0000unse">Practicing Sustainability</a>. New York: <a href="/wiki/Springer-Verlag" class="mw-redirect" title="Springer-Verlag">Springer-Verlag</a>. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/practicingsustai0000unse/page/95">95–99</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-1-4614-4349-0_19">10.1007/978-1-4614-4349-0_19</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781461443483" title="Special:BookSources/9781461443483"><bdi>9781461443483</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/793571943">793571943</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Economic+Growth+and+Sustainability+Rooted+in+Financial+Literacy&rft.btitle=Practicing+Sustainability&rft.place=New+York&rft.pages=95-99&rft.pub=Springer-Verlag&rft.date=2013&rft_id=info%3Aoclcnum%2F793571943&rft_id=info%3Adoi%2F10.1007%2F978-1-4614-4349-0_19&rft.isbn=9781461443483&rft.aulast=Bryant&rft.aufirst=John+Hope&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fpracticingsustai0000unse%2Fpage%2F95&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChoungChatterjeePak2023" class="citation journal cs1">Choung, Youngjoo.; Chatterjee, Swarn.; Pak, Tae-Young. (2023). <a rel="nofollow" class="external text" href="https://doi.org/10.1016/j.frl.2023.104438">"Digital financial literacy and financial well-being"</a>. Finance Research Letters. 58 (B): 1–7. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.frl.2023.104438">10.1016/j.frl.2023.104438</a>. <a href="/wiki/Hdl_(identifier)" class="mw-redirect" title="Hdl (identifier)">hdl</a>:<a rel="nofollow" class="external text" href="https://hdl.handle.net/10419%2F276210">10419/276210</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Finance+Research+Letters&rft.atitle=Digital+financial+literacy+and+financial+well-being&rft.volume=58&rft.issue=B&rft.pages=1-7&rft.date=2023&rft_id=info%3Ahdl%2F10419%2F276210&rft_id=info%3Adoi%2F10.1016%2Fj.frl.2023.104438&rft.aulast=Choung&rft.aufirst=Youngjoo.&rft.au=Chatterjee%2C+Swarn.&rft.au=Pak%2C+Tae-Young.&rft_id=https%3A%2F%2Fdoi.org%2F10.1016%2Fj.frl.2023.104438&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDworsky2009" class="citation book cs1">Dworsky, Lawrence N. (2009). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=85w7dY5EuzcC">Understanding the Mathematics of Personal Finance: An Introduction to Financial Literacy</a>. Hoboken, NJ: <a href="/wiki/John_Wiley_%26_Sons" class="mw-redirect" title="John Wiley & Sons">John Wiley & Sons</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1002%2F9780470538395">10.1002/9780470538395</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780470497807" title="Special:BookSources/9780470497807"><bdi>9780470497807</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/318971496">318971496</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Understanding+the+Mathematics+of+Personal+Finance%3A+An+Introduction+to+Financial+Literacy&rft.place=Hoboken%2C+NJ&rft.pub=John+Wiley+%26+Sons&rft.date=2009&rft_id=info%3Aoclcnum%2F318971496&rft_id=info%3Adoi%2F10.1002%2F9780470538395&rft.isbn=9780470497807&rft.aulast=Dworsky&rft.aufirst=Lawrence+N.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D85w7dY5EuzcC&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFRBSF2009" class="citation web cs1"><a href="/wiki/Federal_Reserve_Bank_of_San_Francisco" title="Federal Reserve Bank of San Francisco">Federal Reserve Bank of San Francisco</a> (August 2009). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20191209202609/https://www.frbsf.org/community-development/publications/community-investments/2009/august/financial-education/">"Community Investments, Volume 21, Issue 2: Financial Education"</a>. frbsf.org. Archived from <a rel="nofollow" class="external text" href="https://www.frbsf.org/community-development/publications/community-investments/2009/august/financial-education/">the original</a> on 2019-12-09. Retrieved 2019-10-04.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=frbsf.org&rft.atitle=Community+Investments%2C+Volume+21%2C+Issue+2%3A+Financial+Education&rft.date=2009-08&rft.au=Federal+Reserve+Bank+of+San+Francisco&rft_id=https%3A%2F%2Fwww.frbsf.org%2Fcommunity-development%2Fpublications%2Fcommunity-investments%2F2009%2Faugust%2Ffinancial-education%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMitchellLusardi2011" class="citation book cs1"><a href="/wiki/Olivia_S._Mitchell" title="Olivia S. Mitchell">Mitchell, Olivia S.</a>; <a href="/wiki/Annamaria_Lusardi" title="Annamaria Lusardi">Lusardi, Annamaria</a>, eds. (2011). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=wH5DCC4JdwMC">Financial Literacy: Implications for Retirement Security and the Financial Marketplace</a>. Oxford; New York: <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Facprof%3Aoso%2F9780199696819.001.0001">10.1093/acprof:oso/9780199696819.001.0001</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780199696819" title="Special:BookSources/9780199696819"><bdi>9780199696819</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/727704973">727704973</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Financial+Literacy%3A+Implications+for+Retirement+Security+and+the+Financial+Marketplace&rft.place=Oxford%3B+New+York&rft.pub=Oxford+University+Press&rft.date=2011&rft_id=info%3Aoclcnum%2F727704973&rft_id=info%3Adoi%2F10.1093%2Facprof%3Aoso%2F9780199696819.001.0001&rft.isbn=9780199696819&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DwH5DCC4JdwMC&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOrganisation_for_Economic_Co-operation_and_Development2005" class="citation book cs1">Organisation for Economic Co-operation and Development (2005). <a rel="nofollow" class="external text" href="https://www.oecd.org/daf/fin/financial-education/improvingfinancialliteracyanalysisofissuesandpolicies.htm">Improving Financial Literacy: Analysis of Issues and Policies</a>. Paris: <a href="/wiki/OECD" title="OECD">OECD</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1787%2F9789264012578-en">10.1787/9789264012578-en</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9789264012561" title="Special:BookSources/9789264012561"><bdi>9789264012561</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/62777366">62777366</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Improving+Financial+Literacy%3A+Analysis+of+Issues+and+Policies&rft.place=Paris&rft.pub=OECD&rft.date=2005&rft_id=info%3Aoclcnum%2F62777366&rft_id=info%3Adoi%2F10.1787%2F9789264012578-en&rft.isbn=9789264012561&rft.au=Organisation+for+Economic+Co-operation+and+Development&rft_id=https%3A%2F%2Fwww.oecd.org%2Fdaf%2Ffin%2Ffinancial-education%2Fimprovingfinancialliteracyanalysisofissuesandpolicies.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWillis2012" class="citation book cs1">Willis, Lauren E. (2012). <a rel="nofollow" class="external text" href="https://ssrn.com/abstract=1869313">"Financial education: lessons not learned and lessons learned"</a>. In Bodie, Zvi; Siegel, Laurence B.; Stanton, Lisa (eds.). Life-Cycle Investing: Financial Education and Consumer Protection. Charlottesville, VA: Research Foundation of <a href="/wiki/CFA_Institute" title="CFA Institute">CFA Institute</a>. pp. 125–138. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781934667521" title="Special:BookSources/9781934667521"><bdi>9781934667521</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Financial+education%3A+lessons+not+learned+and+lessons+learned&rft.btitle=Life-Cycle+Investing%3A+Financial+Education+and+Consumer+Protection&rft.place=Charlottesville%2C+VA&rft.pages=125-138&rft.pub=Research+Foundation+of+CFA+Institute&rft.date=2012&rft.isbn=9781934667521&rft.aulast=Willis&rft.aufirst=Lauren+E.&rft_id=https%3A%2F%2Fssrn.com%2Fabstract%3D1869313&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWillis2017" class="citation journal cs1">Willis, Lauren E. (Winter 2017). <a rel="nofollow" class="external text" href="http://www.jsse.org/index.php/jsse/article/view/848">"Finance-informed citizens, citizen-informed finance: an essay occasioned by the International Handbook of Financial Literacy"</a>. Journal of Social Science Education. 16 (4): 16–27. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.4119%2Fjsse-848">10.4119/jsse-848</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Social+Science+Education&rft.atitle=Finance-informed+citizens%2C+citizen-informed+finance%3A+an+essay+occasioned+by+the+International+Handbook+of+Financial+Literacy&rft.ssn=winter&rft.volume=16&rft.issue=4&rft.pages=16-27&rft.date=2017&rft_id=info%3Adoi%2F10.4119%2Fjsse-848&rft.aulast=Willis&rft.aufirst=Lauren+E.&rft_id=http%3A%2F%2Fwww.jsse.org%2Findex.php%2Fjsse%2Farticle%2Fview%2F848&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFXiao2016" class="citation book cs1">Xiao, Jing Jian, ed. (2016) [2008]. <a rel="nofollow" class="external text" href="https://books.google.com/books?id=5YpFDAAAQBAJ">Handbook of Consumer Finance Research</a> (2nd ed.). Cham: <a href="/wiki/Springer-Verlag" class="mw-redirect" title="Springer-Verlag">Springer-Verlag</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-3-319-28887-1">10.1007/978-3-319-28887-1</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9783319288857" title="Special:BookSources/9783319288857"><bdi>9783319288857</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/932096049">932096049</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Handbook+of+Consumer+Finance+Research&rft.place=Cham&rft.edition=2nd&rft.pub=Springer-Verlag&rft.date=2016&rft_id=info%3Aoclcnum%2F932096049&rft_id=info%3Adoi%2F10.1007%2F978-3-319-28887-1&rft.isbn=9783319288857&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D5YpFDAAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3AFinancial+literacy" class="Z3988"></li></ul> </section><div class="mw-heading mw-heading2 section-heading" onclick="mfTempOpenSection(10)"><h2 id="External_links">External links</h2> <a role="button" href="/w/index.php?title=Financial_literacy&action=edit&section=27" title="Edit section: External links" class="cdx-button cdx-button--size-large cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--icon-only cdx-button--weight-quiet "> edit </a> </div><section class="mf-section-10 collapsible-block" id="mf-section-10"> <ul><li><a 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last-modified-bar__content"> Last edited on 1 November 2024, at 08:43 </div> </a> <div class="post-content footer-content"> <div id='mw-data-after-content'> <div class="read-more-container"></div> </div> <div id="p-lang"> <h4>Languages</h4> <section> <ul id="p-variants" class="minerva-languages"></ul> <ul class="minerva-languages"><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D9%85%D8%AD%D9%88_%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%A9_%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9" title="محو الأمية المالية – Arabic" lang="ar" hreflang="ar" data-title="محو الأمية المالية" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target">العربية</a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Maliyy%C9%99_savadl%C4%B1l%C4%B1%C4%9F%C4%B1" title="Maliyyə savadlılığı – Azerbaijani" lang="az" hreflang="az" data-title="Maliyyə savadlılığı" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target">Azərbaycanca</a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Educaci%C3%B3_financera" title="Educació financera – Catalan" lang="ca" hreflang="ca" data-title="Educació financera" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target">Català</a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Finan%C4%8Dn%C3%AD_gramotnost" title="Finanční gramotnost – Czech" lang="cs" hreflang="cs" data-title="Finanční gramotnost" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target">Čeština</a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Finansiel_dannelse" title="Finansiel dannelse – Danish" lang="da" hreflang="da" data-title="Finansiel dannelse" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target">Dansk</a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Finanzielle_Allgemeinbildung" title="Finanzielle Allgemeinbildung – German" lang="de" hreflang="de" data-title="Finanzielle Allgemeinbildung" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target">Deutsch</a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Rahatarkus" title="Rahatarkus – Estonian" lang="et" hreflang="et" data-title="Rahatarkus" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target">Eesti</a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%9F%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%B9%CE%BA%CF%8C%CF%82_%CE%B1%CE%BB%CF%86%CE%B1%CE%B2%CE%B7%CF%84%CE%B9%CF%83%CE%BC%CF%8C%CF%82" title="Οικονομικός αλφαβητισμός – Greek" lang="el" hreflang="el" data-title="Οικονομικός αλφαβητισμός" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target">Ελληνικά</a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Educaci%C3%B3n_financiera" title="Educación financiera – Spanish" lang="es" hreflang="es" data-title="Educación financiera" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target">Español</a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Finantza-hezkuntza" title="Finantza-hezkuntza – Basque" lang="eu" hreflang="eu" data-title="Finantza-hezkuntza" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target">Euskara</a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/%C3%89ducation_financi%C3%A8re" title="Éducation financière – French" lang="fr" hreflang="fr" data-title="Éducation financière" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target">Français</a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%96%D5%AB%D5%B6%D5%A1%D5%B6%D5%BD%D5%A1%D5%AF%D5%A1%D5%B6_%D5%A3%D6%80%D5%A1%D5%A3%D5%AB%D5%BF%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="Ֆինանսական գրագիտություն – Armenian" lang="hy" hreflang="hy" data-title="Ֆինանսական գրագիտություն" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target">Հայերեն</a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4%E0%A5%80%E0%A4%AF_%E0%A4%B8%E0%A4%BE%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A4%B0%E0%A4%A4%E0%A4%BE" title="वित्तीय साक्षरता – Hindi" lang="hi" hreflang="hi" data-title="वित्तीय साक्षरता" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target">हिन्दी</a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Literasi_keuangan" title="Literasi keuangan – Indonesian" lang="id" hreflang="id" data-title="Literasi keuangan" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Fj%C3%A1rm%C3%A1lal%C3%A6si" title="Fjármálalæsi – Icelandic" lang="is" hreflang="is" data-title="Fjármálalæsi" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target">Íslenska</a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Educazione_finanziaria" title="Educazione finanziaria – Italian" lang="it" hreflang="it" data-title="Educazione finanziaria" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target">Italiano</a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%97%D7%99%D7%A0%D7%95%D7%9A_%D7%A4%D7%99%D7%A0%D7%A0%D7%A1%D7%99" title="חינוך פיננסי – Hebrew" lang="he" hreflang="he" data-title="חינוך פיננסי" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target">עברית</a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Finan%C5%A1u_prat%C4%ABba" title="Finanšu pratība – Latvian" lang="lv" hreflang="lv" data-title="Finanšu pratība" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target">Latviešu</a></li><li class="interlanguage-link interwiki-mr mw-list-item"><a href="https://mr.wikipedia.org/wiki/%E0%A4%86%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%BF%E0%A4%95_%E0%A4%B8%E0%A4%BE%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A4%B0%E0%A4%A4%E0%A4%BE" title="आर्थिक साक्षरता – Marathi" lang="mr" hreflang="mr" data-title="आर्थिक साक्षरता" data-language-autonym="मराठी" data-language-local-name="Marathi" class="interlanguage-link-target">मराठी</a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Educa%C3%A7%C3%A3o_financeira" title="Educação financeira – Portuguese" lang="pt" hreflang="pt" data-title="Educação financeira" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target">Português</a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Educa%C8%9Bie_financiar%C4%83" title="Educație financiară – Romanian" lang="ro" hreflang="ro" data-title="Educație financiară" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target">Română</a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%A4%D0%B8%D0%BD%D0%B0%D0%BD%D1%81%D0%BE%D0%B2%D0%B0%D1%8F_%D0%B3%D1%80%D0%B0%D0%BC%D0%BE%D1%82%D0%BD%D0%BE%D1%81%D1%82%D1%8C" title="Финансовая грамотность – Russian" lang="ru" hreflang="ru" data-title="Финансовая грамотность" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target">Русский</a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Finan%C4%8Dn%C3%A1_gramotnos%C5%A5" title="Finančná gramotnosť – Slovak" lang="sk" hreflang="sk" data-title="Finančná gramotnosť" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target">Slovenčina</a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Finan%C4%8Dna_pismenost" title="Finančna pismenost – Slovenian" lang="sl" hreflang="sl" data-title="Finančna pismenost" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target">Slovenščina</a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%A8%E0%AE%BF%E0%AE%A4%E0%AE%BF_%E0%AE%85%E0%AE%B1%E0%AE%BF%E0%AE%B5%E0%AF%81%E0%AE%A4%E0%AF%8D%E0%AE%A4%E0%AE%BF%E0%AE%B1%E0%AE%A9%E0%AF%8D" title="நிதி அறிவுத்திறன் – Tamil" lang="ta" hreflang="ta" data-title="நிதி அறிவுத்திறன்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target">தமிழ்</a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Finansal_okuryazarl%C4%B1k" title="Finansal okuryazarlık – Turkish" lang="tr" hreflang="tr" data-title="Finansal okuryazarlık" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target">Türkçe</a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%A4%D1%96%D0%BD%D0%B0%D0%BD%D1%81%D0%BE%D0%B2%D0%B0_%D0%B3%D1%80%D0%B0%D0%BC%D0%BE%D1%82%D0%BD%D1%96%D1%81%D1%82%D1%8C" title="Фінансова грамотність – Ukrainian" lang="uk" hreflang="uk" data-title="Фінансова грамотність" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target">Українська</a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E7%90%86%E8%B2%A1%E7%9F%A5%E8%AD%98" title="理財知識 – Cantonese" lang="yue" hreflang="yue" data-title="理財知識" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target">粵語</a></li></ul> </section> </div> <div 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