Financial Literacy

What If Your Credit Score Measured Your Financial Potential–Not Past Mistakes?

Zaydoon Munir emigrated to the U.S. from Baghdad, Iraq, so he knows the difference between an authoritarian regime and a free country. But, despite loving our free-market economic system, he criticizes one major aspect of it: credit scoring. Credit scoring is a system orchestrated by three national credit bureaus (Experian, Equifax, and TransUnion) that track our payment histories–whether we

Americans Get an ‘F’ on Retirement Planning

When it comes to retirement 101, Americans are getting an “F.” According to a study by the American College of Financial Services, three in four retirement-aged adults failed a quiz on ways to make their nest eggs last through retirement. Moreover, older Americans between the ages of 60 and 75 have trouble comprehending vital financial

Financial Literacy Is The Key To Solving Economic Inequality

While many Americans are more confident than ever about their financial future, half are in danger of financial ruin from the next major emergency and, collectively, they are carrying almost $12.7 trillion in debt. Although most Americans have legitimate reasons to be hopeful, African-Americans and women, who suffer from persistent inequalities in employment, wages and

It’s Financial Literacy Month: Increase Your Team’s Grasp of Dollars and Sense Issues

Have you ever considered a brown-bag lunch format to help employees deal with one of the biggest stressors we all have in life? National Financial Literacy Month is upon us, and while this may not quite be the cause for celebration that other federally recognized events are, it’s certainly worth your attention. You may look

How To Keep Your Retirement Plan On Track In A Wild, Woolly World

There have been scarier markets, but have there been weirder ones? How you should cope. Each year brings its own set of tests to your retirement plan, whether from stock market volatility, politics, the strength of the economy. But this year seems to carry an extra dose of uncertainty. How can you adjust your retirement

Choosing Nurture, Not Nature to Improve Financial Decision-Making in America

Even as the economy recovers, unemployment decreases, and median income rises, millions of households in the United States continue to barely scrape by. For years, society has placed the responsibility for financial shortcoming on the individual: a character flaw. But behavioral science shows that it’s really a failing of the broader system: a design flaw.

How Financial Knowledge Drives Wealth Inequality

What differentiates the financial success stories from the others turns out to be exposure--in school or the workplace--to financial education, says WSJ Wealth Expert Olivia Mitchell of the Wharton School. Financial knowledge plays a crucial role in shaping wealth inequality, according to a new study that my co-authors and I just published in the Journal

You Don’t Have To Go To College To Save Right

In our new research study which interviewed participants across 10 European countries, our team working with Annamaria Lusardi has demonstrated that financial and risk literacy leads to better choices when it comes to making decisions and identifying the right paths to our financial goals. We also show that the impact of financial and risk literacy

2017-02-23T09:23:12+00:00 Tags: |

Prof: Money can buy happiness but it’s costly to bank on that without measuring debt

Yes, money can lead to happiness, but how much debt one has should also be considered in the money-happiness equation, according to a new a study from Purdue University.  "There has been a lot of research looking at whether and how income makes people happy in life, but few studies have examined whether debt can

2017-01-21T13:51:51+00:00 Tags: |

Savings For The Future: The Private Sector Fighting Poverty

Young people worldwide need to be financially and socially equipped to build bright futures for themselves. Access to financial and social assets is a key contributing factor to help youth make their own economic decisions and escape poverty. Yet, despite this, a 2013 report estimated that less than 5% of youth have a savings account,

2017-01-21T13:52:34+00:00 Tags: |

What to expect from the brave new world of artificial intelligence and fintech

Neither artificial intelligence nor fintech – or even the union of the two – is really anything new, despite the recent buzz regarding all of the above. With that being said, we are indeed approaching that point where the underlying technology begins to make a noticeable difference in people’s lives. From there, it won’t be

2017-01-21T13:52:35+00:00 Tags: , |

Five Massive Trends Towards The Customer-Centric Future Of Personal Finance

There are currently more entrepreneurs (and their venture capitalist backers) focused on improving the financial experiences for people around the world than at any time in history. The pace of change is accelerating, and massive disruptions are just around the corner. We foresee disruptive potential from five very powerful undercurrents in financial services innovation. Read

2017-01-21T13:53:09+00:00

Financial Services for the Poor

More than 2.5 billion adults do not have a bank account or use other formal financial services—not only because of the challenges of living in poverty, but also due to costs, travel distance, and other barriers. A growing body of evidence suggests that access to the right financial tools at critical moments can determine whether

2017-01-21T13:53:09+00:00

Four Surprising Things That Could Impact Whether You’ll Save Enough For Retirement

Have you ever wondered why some people are able to save more for retirement than others?  Studies have found that there are some unusual factors that might affect whether or not you’ll actually save enough (or at least more than others) for retirement. Here they are and how you can play them to your favor:

2017-01-21T13:53:09+00:00

Five reasons why financial education can help your staff

Training staff to be financially literate builds on foundational skills, such as managing cash flow, planning ahead, understanding profits and losses, which ultimately impact your bottom line. Knowing the reality of profit and costs, employees are more likely to understand your business, their job roles, workload, and their salary better. Read more at  Five reasons why

2017-01-21T13:53:12+00:00