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Grant to Help Workers Make Sound Financial Choices

 

Annamaria Lusardi, director of GWSB's Financial Literacy Center, (center left) and colleagues ring the opening bell at the New York Stock Exchange on April 12.

For the average American, financial decisions can be complicated. But thanks to a $150,000 grant to The Financial Literacy Center at GWSB from the NYSE Euronext Foundation, navigating tough financial choices may have just gotten easier for workers.

The grant will fund the development of a set of tools and recommendations that companies could use to help employees make complex financial decisions. The project is under the direction of GWSB professor of accounting and economics Dr. Annamaria Lusardi. “The average worker has very little knowledge about economics and finance,” said Lusardi, a pioneer in the field of  financial literacy. “We must empower consumers to make sound financial decisions. These tools will be designed to do just that.”  Financial education tools are most effective for employees during “teachable moments,” such as tax time, the birth of a child or other major life events, where having access to information can help workers make good decisions, according to Lusardi.

“Financial capability is a core focus of NYSE Euronext’s corporate responsibility program.  As the hub of a global community of companies, we are in a position to provide tools to help corporations more effectively tackle this critical issue,” said Michelle Greene, vice president and head of corporate responsibility at NYSE Euronext, as well as executive director of the NYSE Euronext Foundation. “This important new web-based toolkit provides employers with practical, ready-to-use tools to build or improve their workplace financial fitness programs, including a wide range of tools to help educate, motivate, and empower employees.”

Posted by gwsb on April 14, 2011 | Filed under: GWSB News.


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