We use data from a Dutch data set, the DNB Household Survey, annually covering the period 1996–2015, to study the relationship between informal parental saving education received when people were children or adolescents and two variables aimed to capture adult individuals' concerns for their future: planning horizon and future orientation. Our results indicate that the general future orientation positively correlates with informal saving education, and in particular having received financial teachings. Our findings also suggest that the future orientation index is rather stable over time (which is not trivial, especially because our dataset covers two full business cycles) and declines with age following the life-cycle.

Financial therapy is used to address the psychological, emotional, and behavioral components involved in the process of learning and utilizing new financial literacy skills. This study describes the use of a manualized financial therapy financial therapy intervention, the Five-Step Model, as it is piloted in a group setting. Current economic theories support the use of an intervention model that differs from traditional financial literacy teachings. Behavioral economics and the Transtheoretical Model of Behavior Change is used as a foundation for the Five-Step Model. A case study illustrates the key principles and effectiveness of the intervention model. Reflections and feedback from the members of the group are provided, along with a discussion of implications and directions for further inquiry.

Lack of standardized measurement is one of the main factors that inhibits rigorous evaluations of financial literacy programs. However, although several scholars have developed financial self-efficacy measurements, none have been tailored for women. This article aims to develop and validate a Women's Financial Self-Efficacy Scale (WFSES). Results showed that the WFSES had an excellent reliability coefficient alpha (.93). The scale had good content-related validity, which covered all key domains in financial management for women. The criterion-related validity showed that the WFSES was positively correlated with the New General Self-Efficacy Scale (NGSES). Factor analysis showed four factors to be consistent with the common categories in financial management curricula.

This study examines associations between financial education and financial literacy among people with different levels of education and income using a large, national data set, the 2015 National Financial Capability Study. This study estimates whether financial education in high school, college, or through an employer, is associated with a person's financial literacy score. Results show that people who received any financial education are likely to have higher financial literacy scores compared to those without financial education. Financial education has larger predicted probabilities for those with lower education and income, suggesting that financial education is especially important for this demographic group. This research emphasizes a need to teach financial education to people whom previous research suggests lacks financial literacy the most.

This study explored how an alternative presentation of loan information affects financial-aid decisions among students (n = 204) at a large public university. Building from decision-aid literature and using an experimental design, we found that when financial-aid forms were formatted in a way that makes interest rates more accessible and salient, students tended to: (a) accept fewer high-cost private loans and (b) work more during the college years. Results indicate that minor revisions in financial-aid documentation can have a significant impact on students' financial-aid choices. Those working in the fields of higher education and financial counseling and planning can use this information to further educate borrowers prior to the encumbrance of student loan debt.

In terms of future revenue stream, the potential of young adults is considered to be significant. The study is relevant to India as the segment dominates the population. The objective of the study is to examine the antecedents to financial management behavior for young adults. One hundred and sixty responses were obtained from respondents. While employing structural equation modeling, we found that variables such as help-seeking behavior, financial knowledge, and electronic banking, positively affect financial management behavior. The findings suggest that financial educators and counselors need to incorporate electronic banking along with other dimensions such as financial knowledge and help-seekers. Financial educators can benefit from innovative technology features.

Financial counseling work with clients of color is unique and can be complex. There is a need for a better understanding of culturally aware and competent counseling approaches with clients of color to provide effective services. Nine financial professionals who work with clients of color were interviewed in this qualitative phenomenological study resulting in three emergent themes: beyond the numbers, building a bridge, and switching gears. The lessons learned from their experiences were endorsements to expand the focus of counseling beyond the problem and the individual client to the larger cultural context and familial situation, to devote efforts to the counselor's relationship with clients of color, and to be adaptive and flexible in the counseling process.