Building up financial literacy and financial resilience

This article uses data from the 2020 TIAA Institute-GFLEC Personal Finance (P-Fin) Index to show that many American families were financially fragile well before the COVID-19 pandemic hit the U.S. economy. Financial fragility is particularly severe among specific demographic groups, such as African-...

Descripción completa

Detalles Bibliográficos
Autores principales: Lusardi, Annamaria, Hasler, Andrea, Yakoboski, Paul J.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2020
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7393029/
http://dx.doi.org/10.1007/s11299-020-00246-0
_version_ 1783564958316888064
author Lusardi, Annamaria
Hasler, Andrea
Yakoboski, Paul J.
author_facet Lusardi, Annamaria
Hasler, Andrea
Yakoboski, Paul J.
author_sort Lusardi, Annamaria
collection PubMed
description This article uses data from the 2020 TIAA Institute-GFLEC Personal Finance (P-Fin) Index to show that many American families were financially fragile well before the COVID-19 pandemic hit the U.S. economy. Financial fragility is particularly severe among specific demographic groups, such as African-Americans and those with low income. The article also shows that financial fragility is strongly linked to financial literacy and that many Americans are ill-equipped to deal with the financial decisions needed to navigate through a financial crisis. Suggestions are provided to deal with personal finance decisions in times of emergency.
format Online
Article
Text
id pubmed-7393029
institution National Center for Biotechnology Information
language English
publishDate 2020
publisher Springer Berlin Heidelberg
record_format MEDLINE/PubMed
spelling pubmed-73930292020-07-31 Building up financial literacy and financial resilience Lusardi, Annamaria Hasler, Andrea Yakoboski, Paul J. Mind Soc Article This article uses data from the 2020 TIAA Institute-GFLEC Personal Finance (P-Fin) Index to show that many American families were financially fragile well before the COVID-19 pandemic hit the U.S. economy. Financial fragility is particularly severe among specific demographic groups, such as African-Americans and those with low income. The article also shows that financial fragility is strongly linked to financial literacy and that many Americans are ill-equipped to deal with the financial decisions needed to navigate through a financial crisis. Suggestions are provided to deal with personal finance decisions in times of emergency. Springer Berlin Heidelberg 2020-07-31 2021 /pmc/articles/PMC7393029/ http://dx.doi.org/10.1007/s11299-020-00246-0 Text en © Springer-Verlag GmbH Germany, part of Springer Nature 2020 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Lusardi, Annamaria
Hasler, Andrea
Yakoboski, Paul J.
Building up financial literacy and financial resilience
title Building up financial literacy and financial resilience
title_full Building up financial literacy and financial resilience
title_fullStr Building up financial literacy and financial resilience
title_full_unstemmed Building up financial literacy and financial resilience
title_short Building up financial literacy and financial resilience
title_sort building up financial literacy and financial resilience
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7393029/
http://dx.doi.org/10.1007/s11299-020-00246-0
work_keys_str_mv AT lusardiannamaria buildingupfinancialliteracyandfinancialresilience
AT haslerandrea buildingupfinancialliteracyandfinancialresilience
AT yakoboskipaulj buildingupfinancialliteracyandfinancialresilience

Ejemplares similares