From Financial Literacy to Financial Capability Among Youth

From Financial Literacy to Financial Capability Among Youth

Author/s: Adele Atkinson, and Flore-Anne Messy

Economically disadvantaged youth lack financial knowledge and access to mainstream financial institutions. Instead of aiming for financial literacy, this paper suggests aiming for financial capability, a concept that builds on the writing of Amartya Sen and Martha Nussbaum. It develops when people develop financial knowledge and skills, but also gain access to financial instruments and institutions.