Most financial literacy programs are geared toward steady paycheck earners with long-term savings goals. But how can programs assist households that are struggling with volatile incomes and unpredictable expenses?
Recently Mediaplanet included a feature on the findings of the US Financial Diaries project and how they can relate to more effective financial literacy approaches.
We’ve become fans of talking about financial literacy here at the Financial Access Initiative, so I was excited to see the May issue of the American Economic Review with selected papers from the American Economic Association’s Annual Meeting. There are four papers that address financial-literacy questions. I’ll offer some big-picture thoughts further down, but first, the punch lines of the four papers...