Translating Financial Education into Behavior Change for Low-Income Populations
Year: 2006
Type: article
Abstract: The impact that financial education had on the financial behaviors of (a) the agency staff who were trained to deliver the program and (b) the low-income individuals who participated in the program was investigated. Spe-cifically, the researchers examined the relationship between total number of financial education lessons com-pleted, prior financial experience, and improvement in individuals ’ financial behaviors. The results provide some evidence that financial education may result in improved financial behaviors. However, the findings sug-gest that prior level of financial experience may matter more than the number of lessons completed. Researchers may want to re-examine the indicators currently being used to show program impact and whether financial knowledge is the appropriate catalyst to foster behavior change. Key Words: financial education, financial socialization, low-income populations, program evaluation
Authors: Angela Lyons, Yunhee Chang, Erik Scherpf
Language: English
Subfield: Finance
Domain: Social Sciences
SDGs: Quality education, No poverty
Open Access status: green
OpenAlex ID: W7099967964