An Analysis of the Effects of Financial Education on Financial Literacy and Financial Behaviour
The findings suggest that there are benefits to financial education, but the extent of the benefits may depend on the time horizon for changing financial behaviours. These findings will aid financial education programs. Financial education has the most positive relationship with financial literacy and long-term behaviours and a mixed relationship with short-term behaviours. Another key finding from this research is that people with low levels of financial literacy seem to benefit more.