Furthering financial literacy

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Anna Custers' study presents evidence from a randomized field experiment conducted in Bhopal, India, contributing significantly to the field of financial literacy theory. It explores a specific link between financial literacy and household well-being, focusing on whether financial literacy training affects literacy levels. Unlike most research that emphasizes the connection between training and demand for financial services, Custers examines the direct impact of training on financial literacy. Her findings indicate that a financial literacy training program for urban microfinance clients positively influences average financial literacy levels. Additionally, the study addresses the under-researched topic of trainer gender's effect on learning outcomes and perceptions in developing countries. Custers investigates whether the gender of trainers impacts financial literacy levels and perceptions among microfinance clients. The results suggest that the gender of the trainer does not significantly affect outcomes. This research provides essential insights into effective strategies for enhancing the financial literacy of the poor. Custers concludes that tailored instruction programs, regardless of trainer gender, can significantly elevate financial literacy levels, offering valuable implications for both academia and practitioners in the financial literacy sector.