The Impact of Financial Literacy Education on Subsequent Financial Behavior

The Impact of Financial Literacy Education on Subsequent Financial Behavior

A study examined the differential impact on 79 high school students of a personal financial management course completed 1 to 4 years earlier. This study used a matched sample design based on a school system's records to identify students who had and had not taken a course in personal financial...

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Veröffentlicht in:Financial counseling and planning 2009-01, Vol.20 (1), p.15
Hauptverfasser: Mandell, Lewis, Klein, Linda Schmid
Format: Artikel
Sprache:eng
Schlagworte:
College students
Consumer Economics
Consumer Education
Consumers
Credit cards
Debt (Financial)
Decision making
Defined benefit plans
Deregulation
Education
Financial literacy
Financial management
Financial services
High School Graduates
High School Students
Instructional Effectiveness
Interest rates
Literacy Education
Longitudinal Studies
Money Management
Outcomes of Education
Personal finance
Polls & surveys
School systems
Secondary school students
Secondary schools
Studies
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Beschreibung
Zusammenfassung:A study examined the differential impact on 79 high school students of a personal financial management course completed 1 to 4 years earlier. This study used a matched sample design based on a school system's records to identify students who had and had not taken a course in personal financial management. The findings indicated that those who took the course were no more financially literate than those who had not. In addition, those who took the course did not evaluate themselves to be more savings-oriented and did not appear to have better financial behavior than those who had not taken the course. The study raises serious questions about the longer-term effectiveness of high school financial literacy courses.
ISSN:1052-3073