Can financial literacy training improve financially responsible behavior? experimental evidence from turkish undergraduates

This study examines the causal impact of financial literacy education on financially responsible behavior using a quasi-experimental design among 125 undergraduate students in Türkiye. The study compares outcomes between a treatment group that received structured financial literacy training and a control group that did not. The results show that even a brief educational intervention significantly enhances objective financial literacy and leads to more prudent financial behaviors, including budgeting, saving, purchasing insurance, and investment planning. By addressing endogeneity concerns and targeting individuals at a critical decision-making stage of life, this study provides empirical evidence of the effectiveness of financial education, offering valuable insights for policy development in emerging market contexts.