Effective Financial Decision Aids

Abstract

The National Defense Authorization Act for FY 2016 directs the Secretaries of the Armed Forces and the Chiefs of Staff of the Armed Forces to provide financial literacy training to Service members at certain critical points throughout their careers, including the transition to retirement. Based on a review of the literature, we find that general financial training is ineffective. More effective are decision aids that provide assistance at the time the decision is being made. This paper provides a discussion of what such a decision aid would entail.

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Document Details

Document Type
Technical Report
Publication Date
Jul 01, 2017
Accession Number
AD1106036

Entities

People

  • John E. Morrison
  • Susan L. Rose

Organizations

  • Institute for Defense Analyses

Tags

Communities of Interest

  • Biomedical

DTIC Thesaurus Topics

  • Beta Testing
  • Cognition
  • Cognitive Workload
  • Commerce
  • Department Of Defense
  • Department Of Veterans Affairs
  • Economic Policy
  • Economics
  • Education
  • Literature Surveys
  • Money
  • National Security
  • Psychology
  • Public Policy
  • Students
  • Tissue Donors
  • Training

Readers

  • Defense Financial Management and Audit.
  • Joint Military Operations and Doctrine.
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.