Financial capability, Financial education, Financial services, Young children, Saving, College savings,

A Bandura

A Furnham

A Greenspan

AE Berti

AG Larkins

AL Strauss

B Clercq de

B. K. Bucks

Baorong Guo

C Roland-Levy

CB Meeks

CK Han

D Adams

D Bowditch

D John

D Leiser

D Lindsey

E Johnson

E Scanlon

EJS Sonuga-Barke

F Goldberg

GP Moschis

H Hansen

HR Marshall

I Beutler

J Bodnar

J Chizmar

J Fox

J Harrah

J Schuchardt

JB Rotter

JC Morgan

JD Laney

JM Hogarth

JV McNeal

K Sosin

K Varcoe

KD Rettig

L Mandell

L Senesh

Lissa Johnson

M Kourilsky

M Sherraden

M Suiter

M Watts

M. A. Hilgert

Margaret Sherrard Sherraden

MC Hopkins

MC Schug

MD Clarke

ME Woolley

MS Sherraden

National Association for State Boards of Education (NASBE)

National Council for Economic Education (NCEE)

O Davidson

Organization for Economic Cooperation Development (OECD)

P Lunt

P Webley

P. J. VanFossen

R Russell

S Buckles

S Cohen

S Lau

S Ward

SG Beverly

SM Danes

TA Lucey

TM Peng

TRL Fry

U Sumarwan

V Roos

VS Doss

WB Walstad

William Elliott

Margaret Sherraden

Research Papers in Economics

Financial Capability in Children: Effects of Participation in a School-Based Financial Education and Savings Program

A groundswell of interest in young people’s ability to understand and handle financial decisions has generated keen interest in financial knowledge and effectiveness of financial education. This study examines an innovative four-year school-based financial education and savings program, called “I Can Save ” (ICS). Using a quasi-experimental design, the study examines quantitative and qualitative data to analyze program effects on financial knowledge. Children who participated in ICS scored significantly higher on a financial literacy test than comparison group students in the same school, regardless of parent education and income. Results suggest that children increase financial capability when they have access to financial education and it is accompanied by participation in meaningful financial services. Key words: financial education, financial capability, financial literacy, children, quasi-experiment Fueled by rising consumption among children and youth, and changing perspectives on the economic lives of children, there has been a groundswell of interest in financial education aimed at young people (Greenspan 2005; US Department of Treasury 2009).1 Childhood is no longer considered a period of life shielded from the worlds of finance and economics (Webley, Burgoyne

CiteSeerX

Financial capability in children: Effects of participation in a school-based financial education and savings program

Crossref

Journal of Family and Economic Issues

A groundswell of interest in young people’s ability to understand and handle financial decisions has generated keen interest in financial knowledge and effectiveness of financial education. This study examines an innovative four-year school-based financial education and savings program, called “I Can Save” (ICS). Using a quasi-experimental design, the study examines quantitative and qualitative data to analyze program effects on financial knowledge. Children who participated in ICS scored significantly higher on a financial literacy test than comparison group students in the same school, regardless of parent education and income. Results suggest that children increase financial capability when they have access to financial education and it is accompanied by participation in meaningful financial services

Sherraden, Margaret S.

Johnson, Lissa

Guo, Baorong

Elliott, William

Washington University St. Louis: Open Scholarship

English

http://hdl.handle.net/10.1007/s10834-010-9220-5

Financial Capability in Children: Effects of Participation in a School-Based Financial Education and Savings Program

Abstract

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Research Papers in Economics

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Crossref

Washington University St. Louis: Open Scholarship