Microsoft Word Ed Horwitz Post Dissertation Fina docx

 Financial Literacy 
A great amount of research has been conducted to better understand how to measure and 
assess levels of financial literacy. Huston (2010) identifies financial literacy as having two 
components, financial knowledge and financial skills. The general findings from the work of 
Lusardi and Mitchell (2007a, 2007b, 2007c, 2008, 2009, 2011) indicate that low financial 
literacy is widespread among adults in America, especially within the Baby Boomer cohort. 
Their ongoing research from 2006 continues to find evidence of low levels of literacy and the 
associated negative effects, especially within the sub-groups of low income, low education, 
minorities and women (Lusardi & Mitchell, 2011).