Does State-Mandated High School Financial Education Affect Savings by Low-Income Households?

Melody Harvey '10
University of Wisconsin-Madison

As of 2017, nearly 40% of American adults set aside no money in the past year for unexpected expenses. Young adults and low-income households, given their resource constraints, are even less likely to save for emergencies. Harvey uses pooled cross-sections from the Survey of Income and Program Participation to examine if financial education mandates impact young adults’ propensities to save at selected thresholds, finding no effects on bank account ownership or propensities to save for emerging adults overall. However, mandate exposure increased bank account ownership among those without postsecondary education credentials. These findings suggest that policymakers and educators may wish to shift curricula to focus more on liquid savings and cash flow management.

Sponsored by the Krause Economics Lecture Fund. Free and open to the public.

Tuesday, December 3, 2019 at 4:10pm

Vollum College Center, 120
3203 Southeast Woodstock Boulevard, Portland, Oregon 97202-8199

Event Type



Faculty, Students, Alumni, Open to the Public, Staff

Google Calendar iCal Outlook