In the article, “Enhancing links between research and practice to improve consumer financial education and well-being” Billy J. Hensley, Director of Education at National Endowment for Financial Education® (NEFE®), outlines his perspective on the current relation between financial education and financial outcome (downstream financial behavior) by drawing on a recent study by Fernandes, Lynch & Netemeyer (2014). Evidence from this meta-analysis study indicates that financial education has little to no impact on financial outcome and the three main conclusions Hensley highlights from the Fernandes et al. (2014) study relate to education timing and decay, weak linkage between education and behavior, and the need for improvement both in terms of education programs and research design.

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