The Routledge Handbook of Financial Literacy  book cover
1st Edition

The Routledge Handbook of Financial Literacy

ISBN 9780367457778
Published December 31, 2021 by Routledge
560 Pages 44 B/W Illustrations

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Book Description

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.

Table of Contents

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

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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.