Financial Education Works: National Study

Leading off today’s financial literacy roundup is the release of a financial education study that could be very important to employers. According to a National Bureau of Economic Research working paper, employer-sponsored financial literacy seminars do improve attendees’ financial awareness. Of a survey of nearly 1,200 employees across several companies, 87% of attendees indicated that they believe they will be able to make better retirement choices and 72% said they became more aware of the benefits provided by their employers.  To learn more about this study, or the survey taken, read more here.

In other financial literacy news, a Delaware mobile food pantry will receive an interesting upgrade after a donation by Bank of America. The Food Bank of Delaware’s mobile pantry will now offer financial literacy education. “It’s a way to educate and inform people that we are feeding,” said CEO of Food Bank of Delaware Patricia Beebe. Many of the people who depend on these meals, are the same who could use a financial education lesson. Delaware marketing President for Bank of America, Chip Rossi, had this to say: “The way we think about a healthy community is not only basic critical needs than need to be provided, but these folks also need to have employment opportunities and they also have to have financial literacy to improve their quality of life on a daily basis.” To read more about this interesting new way to deliver financial literacy, read more here.