Exploring the usage and impacts of a low-touch intervention on women's financial literacy and stress

There is a need for stronger financial literacy education and support. In the most recent survey of the Study on Collegiate Financial Wellness, 74% of respondents agreed they were stressed out about personal finances. Additionally, increased financial literacy is associated with positive student outcomes, lower levels of stress and better health, and other important outcomes. Research suggests financial education initiatives can significantly impact financial literacy and subsequent behavior, though the identified impacts varied greatly across the intensity, nature, and timing of the interventions. These impacts also vary across student and institutional characteristics; for example, women generally have less knowledge about personal finance topics and less interest in finance topics than male peers. Differences have also been documented across race/ethnicity and income status. While financial literacy interventions may work, more qualitative, mixed-methods, and longitudinal work that expands beyond single institutions is needed to better understand the nuanced implications of these tools.