Can a Budget-Recording Tool Teach Financial Skills to Youth? Experimental Evidence from a Financial Diaries Study

We study the impact of a mobile app to record daily financial transactions, coupled with enumerator monitoring visits every two weeks, on youth’s investment in financial literacy and financial behavior. The treatment led to a positive and statistically significant effect on financial literacy scores and greater awareness of market prices. Youth in the treatment group experienced significant improvements in access to credit. These effects persist eight months after the intervention is over