1st Edition

The Routledge Handbook of Financial Literacy

Edited By Gianni Nicolini, Brenda J. Cude Copyright 2022
    560 Pages 44 B/W Illustrations
    by Routledge

    560 Pages 44 B/W Illustrations
    by Routledge

    Financial literacy and financial education are not new topics, even though interest in these topics among policymakers, financial authorities, and academics continues to grow. The Routledge Handbook of Financial Literacy provides a comprehensive reference work that addresses both research perspectives and practical applications to financial education. This is the first volume to summarize the milestones of research in financial literacy from multiple perspectives to offer an overview.

    The book is organized into six parts. The first three parts provide a conceptual framework, which discusses what financial literacy is, how it should be measured, and explains why it represents a relevant topic and effective tool in enhancing decision-making among consumers as well as consumer protection strategies. Part IV addresses the connection between financial education and financial literacy, with chapters about financial education in school settings as well as for adults. This part includes an analysis of the role of Fintech and the use of gamification in financial education. Part V is a collection of contributions that analyze financial literacy and financial education around the world, with a focus on geographical areas including the U.S., South America, Western Europe, Eastern Europe, Asia, and Africa. This part also considers how financial literacy should be addressed in the case of Islamic finance. The concluding part of the book examines how financial literacy is related to other possible approaches to consumer finance and consumer protection, addressing the relationships between financial literacy and behavioral economics, financial well-being, and financial inclusion.

    This volume is an indispensable reference for scholars who are new to the topic, including undergraduate and graduate students, and for experienced researchers who wish to enrich their knowledge, policymakers seeking a broader understanding and an international perspective, and practitioners who seek knowledge of best practices as well as innovative approaches.

    Part 1 What is Financial Literacy?

    1 Defining Financial Literacy

    Brenda J. Cude

    2 Financial Literacy among Children: Supporting the Achievement of Financial Well-Being in Adulthood

    Anita I. Drever and Nicole M. Else-Quest

    3 Financial Literacy among Young Adults

    Joyce Serido

    4 Financial Literacy among Older Adults

    Shinae L. Choi and Brenda J. Cude

    5 A Multidimensional Approach to Defining and Measuring Financial Literacy in the Digital Age

    Angela C. Lyons and Josephine Kass-Hanna

    Part 2 Measuring Financial Literacy

    6 Measuring Financial Literacy: The Role of Knowledge, Skills, and Attitudes

    Marlene Haupt

    7 Financial Literacy and Numeracy

    Elisa Darriet, Marianne Guille, and Jean-Christophe Vergnaud

    8 Assessment Methodologies in Financial Literacy: Best Practices and Guidelines

    Gianni Nicolini

    9 Customizing Financial Literacy

    Gianni Nicolini

    Part 3 Relevance and Effectiveness of Financial Literacy

    10 Now More than Ever: Why Financial Literacy is a Key Element of Post-COVID-19 Recovery

    Elsa Fornero, Anna Lo Prete, and Noemi Oggero

    11 The Likely Influence of Financial Literacy on Financial Behaviors

    William B. Walstad and Sam Allgood

    Part 4 Improving Financial Literacy: The Role of Financial Education

    12 Overview of Financial Education

    Suzanne Bartholomae and Jonathan J. Fox

    13 Financial Education in Schools

    Robin Henager and M.J. Kabaci

    14 Financial Education for Adults: Effective Practices and Some Recommendations

    Suzanne Bartholomae, D. Elizabeth Kiss, and Maria Pippidis

    15 Financial Education in Human Trafficking Interventions: Implications for Research, Programming, and Policy

    David Okech, Claire Bolton, and Elyssa Schroeder

    16 Fintech, Financial Literacy, and Financial Education

    Peter J. Morgan

    17 Education or Entertainment? On the Potential of Games in Financial Education

    Panu Kalmi and Tanja Sihvonen

    18 Alternatives to Financial Education

    Lauren E. Willis

    Part 5 Financial Literacy and Financial Education Around the World

    19 Financial Literacy and Financial Education in the United States

    Brenda J. Cude

    20 Financial Literacy and Financial Education in Canada

    Jodi Letkiewicz

    21 Financial Literacy and Financial Education in Central America and the Caribbean

    Donna E. Danns and George K. Danns

    22 Financial Literacy and Financial Education in South America

    Cristina Carrillo Rivero

    23 Financial Literacy and Financial Education in Western Europe

    Luc Arrondel, Marlene Haupt, María Jesús Mancebón, Gianni Nicolini, Manuel Wälti, and Jasmira Wiersma

    24 Financial Literacy and Financial Education in Northern Europe

    Anu Raijas

    25 Financial Literacy and Financial Education in Eastern Europe

    Andrzej Cwynar

    26 Financial Literacy and Financial Education in Africa

    Sophia T. Anong, Judith Aboagye, and Jaeyong Yoo

    27 Financial Literacy and Financial Education in Asia

    Jing Jian Xiao

    28 Financial Literacy and Financial Education in Australia and New Zealand

    Andrew C. Worthington and Tracey West

    29 Financial Literacy, Financial Education, and Islamic Finance

    Andrew C. Worthington and Ainulashikin Marzuki

    Part 6 Beyond Financial Literacy

    30 Financial Literacy and Behavioral Economics: Knowledge, Nudging, and the Psychology of Decision-Making

    Vera Rita De Mello Ferreira

    31 Financial Literacy and Financial Well-Being

    Dee Warmath

    32 The Relationship Between Financial Literacy and Financial Inclusion

    Antonia Grohmann and Lukas Menkhoff


    Gianni Nicolini is Associate Professor in Banking and Finance at the University of Rome Tor Vergata, Italy, in the Faculty of Economics, Department of Management and Law (DML).

    Brenda J. Cude is Professor Emeritus, Consumer Economics, in the Department of Financial Planning, Housing and Consumer Economics at the University of Georgia, U.S.A.