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dc.rights.licenseIn Copyrighten_US
dc.creatorLong, Allie
dc.date.accessioned2013-11-22T17:51:03Z
dc.date.available2013-11-22T17:51:03Z
dc.date.created2011
dc.date.issued2011
dc.identifier.urihttp://hdl.handle.net/11021/24144
dc.descriptionCapstone; [FULL-TEXT FREELY AVAILABLE ONLINE]en_US
dc.description.abstractLow-income families face many barriers to financial well-being. It is necessary that these barriers be addressed, or they will continue to prevent financial stability. There are many issues that plague low-income families, but I will discuss the most prominent ones that have the biggest impact. These issues are: lack of access to banks and traditional sources of funding, exploitative lenders, credit cards and lack of savings mechanisms. These all have a strong connection to financial literacy, which the rest of the paper will address. After discussing the barriers that low income families face, I will discuss the connection between financial literacy and poverty. Next, I will look at the current effectiveness of financial education in the United States, and then at what makes financial education programs successful. Lastly, I will look at incentive based financial education programs that are run through different mechanisms and discuss their effectiveness. While this paper primarily focuses on financial education as a means of reducing financial instability, I am not arguing against the importance of regulations and policy changes directed at exploitative financial services. These are extremely important initiatives as well, but this paper will show that effective financial education alone can improve the financial well-being of many low-income individuals. [From introductory section]en_US
dc.description.statementofresponsibilityAllie Long
dc.format.extent32 pagesen_US
dc.language.isoen_USen_US
dc.rightsThis material is made available for use in research, teaching, and private study, pursuant to U.S. Copyright law. The user assumes full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used should be fully credited with the source.en_US
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en_US
dc.subject.otherWashington and Lee University -- Capstone in Shepherd Poverty Programen_US
dc.titleFinancial Education as a Means of Reducing Povertyen_US
dc.typeTexten_US
dc.rights.holderLong, Allie
dc.subject.fastPovertyen_US
dc.subject.fastFinancial literacyen_US
dc.subject.fastPredatory lendingen_US
dc.subject.fastFinance, Personalen_US
dc.subject.fastCredit card feesen_US
dc.subject.fastIndividual development accountsen_US
dc.subject.fastEducation -- Evaluationen_US


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