by Flavia Coda Moscarola, Adriaan Kalwij; CeRP WP 185/18
This paper examines the role of informal financial education provided by parents in supplementing, and possibly improving the effect of formal financial education programs for primary school children in Italy. We report on a case study of the Money Learning (MOLE) project, an initiative of the Museum of Saving in Turin. In line with previous studies, we find that formal financial education has a positive effect on the financial literacy of primary school children. New empirical findings suggest that this effect of formal financial education can be reinforced by parents providing informal financial education (e.g. giving pocket money and freedom to spend it).
published: July 2018