1st Edition
The Routledge Handbook of Financial Literacy
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
Biography
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.
