Desmarais Global Finance Research Centre (DGFRC) Seminar: Annamaria Lusardi
Annamaria Lusardi
Stanford University
The Importance of financial literacy: Lessons from many years of data
Date: Friday, November 1, 2024
Time: 10:30-11:45 am
Location: Bronfman Bldg. (1001 Sherbrooke St. West), Room 340
All are cordially invited to attend.
Abstract:
In this presentation, I use data from the Big Three, the Personal Finance Index and new information from the Consumer Expectations Survey to document very low levels of financial literacy in the United States and around the world. Looking at the data from a personal finance approach, I show how financial literacy affects financial decision-making, from managing assets to debt and debt management, and the consequences of low financial knowledge for individuals and society as well. I discuss the implications of my findings for policy and programs, including the importance of teaching personal finance in high school and college and the Initiative for Financial Decision-Making (IFDM) at Stanford University.
