Key Highlights
- The new year is often a time when people vow to get a grip on their personal finances.
- My recent study with my colleague Dee Warmath explored why traditional financial education often fails to translate into good habits that leave us better off.
- We found that while people generally do need to improve their financial literacy, simply teaching facts and formulas isn’t enough.
- What really matters is how adaptable your financial knowledge is when life throws you a curveball.
- Most financial education programmes, such as those offered to undergraduate students at university, rely on explicit learning.
