International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 8, Issue 4 (July-August 2026) Submit your research before last 3 days of August to publish your research paper in the issue of July-August.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 8 Issue 4
July-August 2026

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Assessing the Efficacy of Financial Literacy Programs Among Teenagers

Author(s) Mr. Arnav Ajit Pandey
Country India
Abstract **Abstract**

Thirty-nine US states required personal finance coursework for high school graduation in 2026, up from fewer than half the states four years earlier. The requirement spread while the research literature was in open disagreement about whether such coursework changes anything a policymaker would care about. This review assesses what the experimental and quasi-experimental record establishes about adolescent financial education: which outcomes move, by how much, for how long, and through what mechanism. The field's defining dispute, between Fernandes, Lynch and Netemeyer's 2014 finding that interventions explain 0.1 percent of variance in financial behaviour and Kaiser, Lusardi, Menkhoff and Urban's 2022 estimate of 0.100 standard deviations across 76 randomized experiments, traces to three choices about sample, statistical model and effect-size metric. Adolescents convert instruction into behaviour more readily than children or adults, at 0.120 standard deviations for 14- to 25-year-olds. Large trials in Brazil, Peru and Germany show knowledge gains at low per-pupil cost, improved repayment three years after graduation, and more time-consistent choices in incentivized tasks. The Brazilian program also increased expensive credit use and late repayment, demonstrating that a program can meet its knowledge and savings objectives while leaving participants worse off elsewhere. Turkish and German evidence suggests the operative mechanism is patience and decision quality rather than content mastery. Long-run consequences for adult financial welfare remain substantially unmeasured.

*Keywords:* financial literacy; adolescents; school-based financial education; meta-analysis; state mandates; intertemporal choice; PISA
Keywords Financial Literacy, Programs, Teenagers
Published In Volume 8, Issue 4, July-August 2026
Published On 2026-08-03
View / Download PDF File

Share this



E-ISSN 2582-2160
CrossRef

CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJFMR
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us +91-9687-828-838 editor@ijfmr.com
Powered by Sky Research Publication and Journals