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Is High School the Right Time to Teach Self-control? The Effect of Financial Education and Mathematics Courses on Savings Behavior

By: Shawn A. Cole and Gauri Kartini Shastry
  • Format:Print
  • | Language:English
  • | Pages:43
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Abstract

Household financial behavior affects household welfare and the economy at large. Yet our understanding of how to improve financial decisions is limited. Recent literature and policy attention have focused on financial education, for example, in high school. We use variation in state reforms on high school graduation requirements to examine the impact on asset accumulation. In contrast to previous research, we find that state mandates requiring students take a financial literacy course do not affect the propensity to save. We also find that state reforms increasing the number of required math courses improve financial behavior for women, but not men.

Keywords

Saving; Financial Management; Secondary Education; Behavior; Decision Choices and Conditions; Personal Finance; Household

Citation

Cole, Shawn A., and Gauri Kartini Shastry. "Is High School the Right Time to Teach Self-control? The Effect of Financial Education and Mathematics Courses on Savings Behavior." June 2010.

About The Author

Shawn A. Cole

Finance
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