Financial education boosts American consumers' financial capability and literacy levels.
The study looked at how financial education affects Americans' financial capability. They used data from a national study in 2012 and found that people who received financial education had better financial knowledge and behaviors. This was true for those who learned about finances in high school, college, or at work. The results suggest that financial education can improve people's financial skills and behaviors, which can have a positive impact on their overall financial well-being.