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ERIC Number: EJ1383279
Record Type: Journal
Publication Date: 2023
Pages: 12
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
EISSN: EISSN-1947-7910
Using Cognitive Science and Technology to Enhance Financial Education: The Effect of Spaced Retrieval Practice
Kang, Sean H. K.; Eglington, Luke G.; Schuetze, Brendan A.; Lu, Xinyi; Hinterstoisser, Tanja M.; Huaco, Jimena
Journal of Financial Counseling and Planning, v34 n1 p20-31 2023
Financial literacy is an important life skill, yet the impact of financial education has often been found to be modest. We conducted a field experiment to assess the effectiveness of a postinstruction intervention using a smartphone app that incorporated cognitive science principles aimed at improving learning. College students who completed a required credit review workshop during their sophomore year used the smartphone app in one of three practice conditions: control (no practice), massed, or spaced retrieval practice with elaborative feedback. On a final assessment about 5 months later, students who engaged in spaced retrieval practice were superior to those in the control and massed practice conditions in terms of knowledge. Given the ubiquity of smartphones today, the results highlight the potential of harnessing easily accessible technology as learning tools to augment the retention and transfer of knowledge.
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A