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ERIC Number: EJ973484
Record Type: Journal
Publication Date: 2012
Pages: 13
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-0022-0485
EISSN: N/A
What Does Financial Literacy Training Teach Us?
Carlin, Bruce Ian; Robinson, David T.
Journal of Economic Education, v43 n3 p235-247 2012
The authors use data from a finance-related theme park to explore how financial education changes investment, financing, and consumer behavior. Students were assigned fictitious life situations and asked to create household budgets. Some students received a 19-hour financial literacy curriculum before going to the park, and some did not. After controlling for demographic variables, the authors show that the treatment effects of the financial literacy program are strong. Students were more frugal, delayed gratification, paid off debt faster, and relied less on credit financing after training. Students who attended training showed greater uptake of decision support that was offered in the park, which indicates that decision support and financial literacy training are complements, not substitutes. (Contains 4 tables and 9 notes.)
Routledge. Available from: Taylor & Francis, Ltd. 325 Chestnut Street Suite 800, Philadelphia, PA 19106. Tel: 800-354-1420; Fax: 215-625-2940; Web site: http://www.tandf.co.uk/journals
Publication Type: Journal Articles; Reports - Evaluative
Education Level: Secondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A