Empowering financial futures: exploring the effectiveness of employer-based financial literacy programs for Blacks and Hispanics (U.S.)

Improving financial literacy for Black and Hispanic Americans is needed now more than ever. Demographic projections show that Hispanic, followed by Black, populations will grow significantly by 2030 and eventually become the majority of the U.S. population (Poston, 2020). Yet median Black household net-wealth is projected to fall to zero by 2053, with Latino households following two decades later (Asante‑Muhammad et al., 2017). Compounding these trends, Black and Hispanic Americans consistently perform worse than all other racial groups in financial literacy assessments (Yakoboski et al., 2024). This dissertation examines employer‑based financial education (FE) as a potentially impactful intervention, given that workplace settings may offer more frequent and contextually relevant teachable moments than other modes of financial education.Using a mixed‑methods design with an emphasis on qualitative inductive grounded theory, the research spans three studies. Study‑IA identifies a positive relationship between financial confidence and receiving employer‑based FE. Study‑IB explores the foundations of personal finance, the influence of culture and lived experience, employee encounters with workplace FE, and opportunities to strengthen program design. Study‑II investigates how employers and financial literacy organizations design and deliver FE, documenting race‑specific considerations and examples of effective practice. Across studies, findings highlight the role of trauma, economic insecurity, cultural practices, and foundational financial knowledge in shaping engagement and outcomes. In addition, effective employer‑based FE depends on intentional program design, structured and scalable offerings, employee support, and HR compliance constraints. These drivers form a framework for designing equitable and effective financial education across diverse employee populations. The dissertation contributes to academic research by extending adult education and workplace learning theory with race‑conscious insights, while offering employers practical guidance to strengthen inclusion and improve financial wellness for Black and Hispanic adults in the United States.