The purpose of this paper is to analyse a fast-developing collection economic research on financial literacy. We begin with review theoretical that portrays knowledge as sort human capital investment. Indigenizing information has significant ramifications for welfare and programmes aimed at improving literacy in the general population. Then, using data from recent surveys, we determine how much...

The family is the smallest unit of a society. consisting head household and several people who gather live in one place under roof state mutual dependence on another. Financial problems are something that must be experienced by family, especially families just starting ark. Therefore, it necessary to have good financial literacy so finances can managed properly order achieve welfare. method use...

Financial decisions are compelled and constrained by non-financial factors. These include personality characteristics of individuals as well as the social environments in which decisions are made. This paper provides an overview of theories that seek to explain how non-financial factors influence financial decisions: Developmental Psychology, Crystallized and Fluid Intelligence, Behavioral Econ...

Micro-entrepreneurs often lack the financial literacy required for the complex financial decisions they face. We conduct a randomized control trial with a bank in the Dominican Republic to compare the impact of two distinct programs: a standard accounting training versus a simplified, rule-of-thumb training that teaches basic financial heuristics. Only the latter produced significant improvemen...

This paper investigates the causal impact of large unexpected windfalls on individual mental health, physical health, as well as health behaviors. I use a large individual-level panel data set of lottery winners from Germany between the years 2000 and 2011 and observe lottery winners before and after winning a large lottery prize. Mental health declines immediately after winning a large lottery...