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'Four Bright Coins Shining at Me’. Financial Education in Childhood, Financial Confidence in Adulthood

Author

Listed:
  • Elsa Fornero

    (University of Turin and CeRP-Collegio Carlo Alberto)

  • Mariacristina Rossi

    (University of Turin and CeRP-Collegio Carlo Alberto)

  • Dario Sansone

    (Georgetown University)

Abstract
We show that receiving an allowance (pocket money) between age 8 and 12 increases financial confidence in adulthood. We measure the level of confidence using the self-reported financial knowledge. We carry out the analysis by using a Dutch survey conducted in 2015. We estimate causal effects by controlling for parental attitudes and using a “within family” fixed effect.

Suggested Citation

  • Elsa Fornero & Mariacristina Rossi & Dario Sansone, 2016. "'Four Bright Coins Shining at Me’. Financial Education in Childhood, Financial Confidence in Adulthood," CeRP Working Papers 162, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    • Handle: RePEc:crp:wpaper:162
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    File URL: http://www.cerp.carloalberto.org/wp-content/uploads/2016/07/WP_162.pdf
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    Cited by:

    1. Boggio, Cecilia & Coda Moscarola, Flavia & Gallice, Andrea, 2020. "What is good for the goose is good for the gander?," Economics of Education Review, Elsevier, vol. 75(C).
    2. Nancy Neoyame Chabaefe & Abubaker Qutieshat, 2024. "Financial Literacy, Financial Education and Financial Experience: Conceptual Framework," International Journal of Economics and Financial Issues, Econjournals, vol. 14(4), pages 44-55, July.
    3. Giovanni Gallo & Alessia sconti, 2023. "Could financial education be a universal social policy? A simulation of potential influences on inequality levels," Center for the Analysis of Public Policies (CAPP) 0182, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    4. Beata Gotwald, 2023. "Implications of Pocket Money on Young Clients’ Shopping Decisions– International Comparison," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 410-420.
    5. Sconti, Alessia, 2022. "Digital vs. in-person financial education: What works best for Generation Z?," Journal of Economic Behavior & Organization, Elsevier, vol. 194(C), pages 300-318.
    6. Andrzej Cwynar & Wiktor Cwynar & Monika Baryła-Matejczuk & Moises Betancort, 2019. "Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process," Sustainability, MDPI, vol. 11(24), pages 1-26, December.
    7. Elisabeth Sinnewe & Gavin Nicholson, 2023. "Healthy financial habits in young adults: An exploratory study of the relationship between subjective financial literacy, engagement with finances, and financial decision‐making," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 564-592, January.
    8. Alessia Sconti, 2020. "Financial Literacy in Italy: What works among millennials most?," Working Papers 01/2020, University of Verona, Department of Economics.
    9. Andrea Lučić & Dajana Barbić & Marija Uzelac, 2020. "The Role of Financial Education in Adolescent Consumers’ Financial Knowledge Enhancement," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 32(SI), pages 115-130.
    10. Gallo, Giovanni & Sconti, Alessia, 2023. "How much financial literacy matters? A simulation of potential influences on inequality levels," GLO Discussion Paper Series 1266, Global Labor Organization (GLO).
    11. Kimberly Watkins & Megan McCoy & Kenneth White & Miranda Reiter & Yingyi Liu, 2024. "Exploring the Role of Financial Socialization on Financial Planning Students’ Financial and Career Confidence: A Thematic Analysis," Journal of Family and Economic Issues, Springer, vol. 45(1), pages 106-116, March.
    12. Alessandro Bucciol & Martina Manfre' & Marcella Veronesi, 2018. "The Role of Financial Literacy and Money Education on Wealth Decisions," Working Papers 05/2018, University of Verona, Department of Economics.

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