Mind the gap: gender and financial literacy
We need financial literacy to make good financial decisions. But did you know that half of Europeans have low financial literacy levels, and that 60% of them are women?
Our host Stefania Secola talks to Annamaria Lusardi from Stanford University about what financial literacy is, why it matters and how we can improve it, especially among women.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 13 March 2025 and recorded on 7 March 2025.
- 00:01
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Commitments made by central banks
How did central bank Governors commit to improving financial literacy in their respective countries? What are the desired outcomes?
- 00:27
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Looking at the numbers
How financially literate are Europeans? How big is the gap between men and women? And what can we do about it?
- 01:55
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Financial literacy defined
What is financial literacy? How does it relate to financial independence?
- 03:58
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Measuring financial literacy
There are three simple questions, known as the “Big Three”, that experts use to measure financial literacy. Can you, our listener, answer them?
- 05:59
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Why central banks care about financial literacy
Why does financial literacy matter for central banks? How does it relate to the effectiveness of monetary policy and trust in what a central bank does? And how does it affect banking supervision?
- 10:53
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Financial knowledge in Europe
Why is financial literacy in Europe so low? What can we do to increase the overall level of financial literacy among Europeans?
- 12:30
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When to start addressing financial literacy
When is the best time to improve people’s financial literacy? Is it limited to schools or are there also other teachable moments?
- 15:50
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The gender gap in financial literacy
Why is there this gender gap and why is it a problem? What can we do to make sure that half the population isn’t left behind?
- 20:14
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The role of fintech
Does fintech complement financial literacy? What risks do gender differences in digital literacy pose when it comes to using fintech?
- 22:26
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The road ahead
Central banks made five commitments to improve financial literacy. What are these commitments?
- 24:50
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Financial literacy question: answer revealed
We answer the first “Big Three” question. Listen and see whether you chose the correct answer!
- 25:45
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Our guest’s hot tip
Annamaria shares her hot tip with our listeners.