Abstract
Financial literacy programs are popular, despite limited evidence that they lead to significant changes in savings behavior. We experimentally test the impact of financial literacy training on clients of a branchless banking program that offers doorstep access to banking to low-income households. The intervention had significant impacts: total savings in the treatment group increased by 49% ($39) within a period of 1 year. The increase in savings is due in part to decreases in expenditures on temptation goods. These results suggest that financial education interventions can be successful in changing savings outcomes, although results may be very context specific.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.