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Publication Date



Financial literacy education has long been promoted as key to consumer financial well-being. Yet the claim has never had more than negligible statistically significant empirical support. This review (1) sets forth the model of financial literacy education underlying public support for these programs today, (2) identifies pervasive and serious limitations in existing empirical research used by policymakers as evidence of the effectiveness of this education, and (3) recommends a number of alternative public policies suggested by the existing research.


financial literacy, consumer education, consumer finance, research methods, consumer policy

Publication Title

San Diego Law Review

Publication Citation

46 San Diego L. Rev. 415 (2009)