Financial literacy is a crucial skill for personal wealth management and economic well-being. Hence, it is important to evaluate the impact of interventions aimed at increasing financial literacy in the most vulnerable groups of the society. We conduct an impact evaluation of an intervention consisting in a two-hour lecture by university professors targeting the elderly population. We find that the intervention does not have a significant effect on literacy but has a significant effect on confidence. Our results highlight that short programs meant to increase financial literacy may have a severe drawback in favoring an increased confidence in one’s own competence, not supported by an increased competence.
Promoting Financial Literacy among the Elderly: Consequences on Confidence / Bucciol, Alessandro; Quercia, Simone; Sconti, Alessia. - (2020).
Promoting Financial Literacy among the Elderly: Consequences on Confidence
Alessia Sconti
2020
Abstract
Financial literacy is a crucial skill for personal wealth management and economic well-being. Hence, it is important to evaluate the impact of interventions aimed at increasing financial literacy in the most vulnerable groups of the society. We conduct an impact evaluation of an intervention consisting in a two-hour lecture by university professors targeting the elderly population. We find that the intervention does not have a significant effect on literacy but has a significant effect on confidence. Our results highlight that short programs meant to increase financial literacy may have a severe drawback in favoring an increased confidence in one’s own competence, not supported by an increased competence.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.