Financial Literacy and Numeracy: Implications on Personal Wealth Potential Improvement Methods

Open Access
Author:
Pettner, Jason T
Area of Honors:
Finance (Behrend)
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
  • Michael Filbeck, Thesis Supervisor
  • Michael Edward Brown, Honors Advisor
Keywords:
  • Financial Literacy
  • Finance
  • Financial Self-Esteem
  • CFA Society Pittsburgh
  • Numeracy
Abstract:
Financial education is currently lacking in the United States and globally, resulting in poor worldwide financial literacy. In efforts to improve literacy and numeracy, the CFA Society Pittsburgh launched a high school financial literacy campaign, which resulted in statistically significant improvement. Students who participated in the survey experienced a statistically significant improvement in the four main areas tested: financial behavior, subjective financial knowledge, objective financial knowledge, and self-esteem. These findings highlight the potential to improve attributes that impact financial decision-making through education.