Financial Capability

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Financial literacy skills have taken a nose dive since the Great Recession

It’s been a decade since the Great Recession’s upheaval, and while some measures of Americans’ economic well-being have recovered like the unemployment rate, their financial literacy isn’t one of them. Between 2009 and 2018, there was an 8% slip in the amount of people who could correctly answer most questions about interest rates, inflation, bond prices,

Financial Feedback

How feedback trumps financial education in improving people’s financial capability. By Crawford Hollingworth and Liz Barker, The Behavioural Architects Our financial capability – being in control of managing our money – is crucial to our financial health. Without it, we may struggle to pay off debts, pay bills on time, buy a house, save for unexpected

Black-white earnings gap returns to 1950 levels

After years of progress, the median earnings gap between black and white men has returned to what it was in 1950, according to new research by economists from Duke University and the University of Chicago. The experience of African-American men is not uniform, though: The earnings gap between black men with a college education and

Companies offer “financial wellness” programs as a job perk

An increasing number of companies have started offering free programs to teach employees how to manage their own money. At a Waffle House south of Atlanta, Ashly Johnson stacks clean plates above a metal grill after the morning rush to start preparing for lunch hour.  Johnson, 28, recently finished a manager training program with Waffle

Financial literacy takeaways

Without an understanding of basic financial concepts, how do you expect to manage your money wisely? The answer is getting educated. Financial literacy is everything because it is one of the greatest challenges people have today. With student loan debt, predatory lenders and a lack of savings for emergency situations, today is the day to

The four most depressing reasons why Americans are not saving any money

This year, Americans say they’re ready to make their savings accounts great again. Whether they actually will is another story. About 21% of working Americans aren’t saving any of their income, which remains unchanged from the answer consumers gave the survey in 2016, a survey released this week by personal finance site concluded. And

Financial literacy alone won’t buy economic security

Knowledge is power, but knowing better doesn’t automatically translate into doing better. Financial literacy may be the term we commonly use but it’s financial capability that determines whether people reach their goals. The distinction may be subtle but common sense tells us that what people do often differs from what they know. Ongoing research is