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Stage wise need of Financial Literacy in a Poor Household’s Life Cycle

Stage wise need of Financial Literacy in a Poor Household’s Life Cycle. Parul Agarwal IFMR Research 4 th October 2013. Organization’s Approach. Develops research ideas and research design to conduct studies using rigorous methodology. - Impact Evaluation using RCTs

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Stage wise need of Financial Literacy in a Poor Household’s Life Cycle

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  1. Stage wise need of Financial Literacy in a Poor Household’s Life Cycle Parul Agarwal IFMR Research 4th October 2013

  2. Organization’s Approach • Develops research ideas and research design to conduct studies using rigorous methodology. - Impact Evaluation using RCTs - Short-term Policy Research - Panel Studies - Short-term research like a snapshot/ case-study • Partners with key stakeholders in an effort to translate research/ evidence based results into Policy and Practice. - Disseminating results through various publications and in person meetings with key stakeholders - Conducting conferences and Round-table discussions • Conducts trainings and workshops for students and practitioners on research tools and methodology.

  3. Introduction Parul Agarwal, a program head at IFMR Research, discussed the need for financial literacy in various stages of a household’s life cycle, particularly focusing on poor households who are prone to risks, have varied preferences and find it difficult to make right choices in the complex financial landscape they live in. After having identified the teachable moments in a household’s life cycle, the researcher presented the attributes of each of these stages, mentioning the most suitable products and topics of financial education, behavioral characteristics of the target, various methods of financial literacy that have already been tested across the globe and relevant findings from the same. Given that financial literacy programs are important but expensive and tricky to implement, she highlighted the existing infrastructure in villages, towns and schools that could be utilized for the purpose. The need and scope for further research towards establishing the best practices in this domain was also well acknowledged.

  4. A Household’s Life Cycle

  5. Teachable Moments

  6. Designing Financial Literacy

  7. Use of Available Infrastructure • Anganwadi Centres • Schools • Computer Centres • Village teachers • Colleges • Job sites/ Business Training • Bundled with financial products • Adult Literacy Centres • Common Meeting Points

  8. Scope of Research • To study the impact of FLTs that account for behavioural aspects • To study the FL models linked to formal education system • Conduct panel studies with youth to understand the behavioural impact over longer run

  9. Thank you For any discussions or questions please contact Parul Agarwal on parul.agarwal@ifmr.ac.in

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