Can Economic Psychology and Behavioural Economics Help Improve Financial Education?

This chapter starts by noting that the provision of knowledge and information in itself is not sufficient the information must be incorporated into daily life. It then goes on to describe an innovative solution developed for Brazilian school children. The approach combines information and recommendations about personal financial issues with information about the way in which psychological factors may both help and hinder behaviour. This psychological guidance is intended to raise the pupil’s awareness of their own traits and trigger discussions about the typical psychological factors that influence financial decision making.