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Annamaria Lusardi, left, and Olivia S. Mitchell helped author a new paper that found Black and Hispanic women face greater economic challenges than white women that lower their financial well-being.
A new paper exploring the financial well-being of Black and Hispanic women will be published in the Journal of Retirement this summer.
Funded by the TIAA Institute, Financial well-being among Black and Hispanic women utilizes data from the 2018 edition of the National Financial Capability Study, a survey of about 27,000 U.S. adults.
Annamaria Lusardi, Washington-based chairwoman of economics and accountancy at George Washington University and one of the paper s co-authors, said in a phone interview that the paper was motivated by what she and her co-authors saw as the COVID-19 pandemic disproportionately affecting women, specifically across race.
FINRA Foundation Announces 2021 Research Award Recipients - Studies Advance Understanding Of Financial Capability In The United States mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
Financial literacy vital to long-term success
About two-thirds of Americans lack financial literacy a concept that if understood and applied can change the course of one’s future according to FINRA’s most recent National Financial Capability Study. If you are not sure how to properly manage your finances and budget, you’re more likely accumulate unsustainable debt, fall victim to fraud or face long-term repercussions, such as poor credit, bankruptcy and housing foreclosure.
Household budgeting, learning how to manage debt and evaluating the tradeoffs between different credit and investment products are just a few skills that fall under the umbrella of financial literacy. They’re also lessons that when learned and applied early in life can make significant impacts on your long-term financial health. Today, fewer than half of U.S. states require students to take personal finance courses, according to the Council for Economic Education. This is a missed opportunity for the
Date
28/04/2021
A substantial number of adults in the United States between the ages of 21 and 62 felt anxiety and stress about their personal finances well before the onset of the COVID-19 pandemic, according to a new report published today. Researchers found that financial stress and anxiety are highly linked to low levels of financial literacy, problematic financial behaviors and decreased financial security.
Researchers at the Global Financial Literacy Excellence Center at the George Washington University and the FINRA Investor Education Foundation used data from the foundation’s 2018 National Financial Capability Study, as well as focus groups conducted in December 2020, to examine the prevalence of financial anxiety and stress among adults in the U.S. and the factors that likely contribute to higher levels. They also looked at the long-term consequences of these feelings.
Large Number of Americans Reported Financial Anxiety and Stress Even Before the Pandemic apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.