Purpose Financial literacy is lacking across all age groups, but less than one-third of young adults have even basic financial knowledge. Research has demonstrated that online learning is effective. As such, online learning strategies may be a useful tool for improving the financial literacy of high school students. The paper aims to discuss this issue. Design/methodology/approach This study uses student-level (N=3,061) and school-level data (n=100) to examine the effectiveness of Soar to Savings, an online learning module that teaches key personal finance and economics concepts. Findings The findings show large, positive, and statistically significant gains in learning from pretest to posttest for the student-level and school-level samples. Originality/value The results provide evidence that Soar to Savings is an effective tool for increasing financial knowledge.

No abstract

The Federal Reserve (the Fed), the central bank of the United States, has a Congressional mandate to promote maximum employment and price stability. While those goals were articulated in 1977, the approach and tools used to implement those objectives have changed over time.

No abstract