Financial Literacy Center

The mission of the Financial Literacy Center is to develop and test innovative programs to improve financial literacy and promote informed financial decisionmaking.

With support from the Social Security Administration, the Center was established in October 2009 by the RAND Corporation, Dartmouth College, and the Wharton School of the University of Pennsylvania in order to develop educational tools and programs that help individuals prepare for their long-term financial stability.

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Featured Videos: Fundamental Concepts Behind Financial Planning for Young Adults

The Financial Literacy Center developed these videos to illustrate the five fundamental concepts behind financial planning for young adults.

More Featured Events, News & Activities

Economist Cites Benefits of Financial Games

As described in the Feb. 2, 2013, issue of the Economist, one way to learn about financial literacy "is to run a nightclub for vampires and rake in money by getting your customers the blood-type they want, while socking away enough cash for retirement (a long one—you're undead)."

Mitchell Quoted in TownTalk Commentary

In "A challenge for our (old) age," the author cites FLC associate director Olivia Mitchell that "we need to advance financial literacy the way we do public health" if people are to be prepared for their old age.

AdvisorOne Article Cites FLC Research

A 2011 study by the Financial Literacy Center found that those who can’t do an interest rate calculation were less likely to plan for retirement or accumulate wealth. The study was mentioned in

Workshop Highlights New Ideas to Help Consumers Make Better Financial Decisions

These videos offer presentations from "Emerging Research on Financial Literacy: A Workshop," held by the Financial Literacy Center, which brought together FLC scholars with policymakers and practitioners in the financial literacy field.

Por Qué los Consumidores Jóvenes Deberían Limitar el Gasto

In this Spanish-language video, FLC codirector Olivia Mitchell discusses why the young should limit consumer spending. The interview was conducted by Knowledge@Wharton High School, an online journal for students interested in finding out more about the world of business.

FLC Leadership

The Financial Literacy Center is led by Director Annamaria Lusardi (center) of George Washington University and RAND; Associate Director Arie Kapteyn of RAND; and Associate Director Olivia S. Mitchell of the Wharton School, all of whom have international reputations for their work on financial literacy.

Featured Studies

Couple's Higher Numeracy Skills Are Linked with Greater Family Wealth

Couples who score well on a simple test of numeracy ability accumulate more wealth by middle age than couples who score poorly on such a test.

How Do Mutual Fund Fees Affect Investor Choices?

The results from 1000 survey respondents show how mutual fund fees affect investor choices. Differences in measured financial literacy predict differences in behavior, with lower rates of literacy among women accounting for differences in choice behavior by gender.

How Do Americans Fare in Financial Capability?

In consultation with the U.S. Department of the Treasury and the President's Advisory Council on Financial Literacy, the FINRA Investor Education Foundation commissioned a national survey of the financial capability of American adults.

In this Population Reference Bureau interview, FLC Director Annamaria Lusardi discusses the findings of the report.

Take the Financial Knowledge Test

See how your financial knowledge compares to other Americans by answering five questions taken from the national survey, Financial Capability in the United States.