Education Week – Jacob Bell
“Though financial capability—described as access to education and real world experience in money management—is beneficial for many young people, it is often not enough to prevent low-income millennials from using risky financial services, according to a University of Kansas study released Thursday…While 1 in 4 millennials reported some formal financial education, those who received instruction without real-life practice demonstrated more risky financial behavior. Such findings suggest that millennials may be better off becoming financially capable or solely learning about finance first-hand, according to the study’s authors.”(more)