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According to a recent study, teaching high school students about finances doesn’t have much of an impact on their financial health later in life.

“There is no clear evidence that financial education in high school improves the likelihood of saving for retirement,” according to TIAA Institute researchers Melody Harvey from The University of Wisconsin-Madison and Carly Urban of Montana State University.

The researchers’ findings are based on an analysis of data from the 2012, 2015 and 2018 waves of the National Financial Capability Study and the 2014 and 2018 panels of the Income and Program Participation Survey.

There is also no evidence that the financial education required in high school improves the likelihood of even having a retirement account or non-retirement savings account, or owning a home, according to the report.

What’s more, there’s no clear evidence that this type of education reduces retirement savings stress or the likelihood of tapping into a retirement account to borrow money, according to Harvey and Urban.

The authors note that previous research has found a correlation between high financial literacy and improvements in credit and debt scores. Harvey and Urban therefore recommend that high school classes focus on “budgeting, credit, debt, and saving for emergencies before addressing retirement savings.”

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