Jamie Wagner|William B. Walstad
The Effects of Financial Education on Short?Term and Long?Term Financial Behaviors
study investigates financial education high school college workplace affects short longterm financial behaviors adults using 2015 national financial capability study nfcs data financial education appears generally insignificant effects shortterm behaviors regular feedback penalties thus greater opportunity learning consumers pay credit card bill get monthly statement showing interest charges penalties financial education appears positive stronger effects longterm behaviors less timely feedback adverse consequences fully realized later life learning may work saving enough money retirement cannot easily quickly corrected benefits financial education may differ based time horizon financial behaviors