ERIC Number: EJ1074652
Record Type: Journal
Publication Date: 2015
Pages: 8
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
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Available Date: N/A
Enhancing Links between Research and Practice to Improve Consumer Financial Education and Well-Being
Hensley, Billy J.
Journal of Financial Counseling and Planning, v26 n1 p94-101 2015
A recent meta-analysis of the effect of financial literacy and financial education on downstream financial behaviors has shown a weak collective impact of the work of financial education. While the findings are not stellar, they do not support a dismantling of financial education programs and funding. This paper examines the findings of the meta-analysis and discusses the implications for the field. In this discussion, a more thoughtful consideration of the ways to provide financial education and the manner about how to influence behavior is highlighted. In addition, this article proposes a systematic examination of why timely educational approaches should coexist with longer-term financial education programming. The field also needs a more rigorous examination of factors that impact intervention effectiveness, including a call for improved research protocol and evaluation and a plea for greater visibility between researchers and practitioners.
Descriptors: Theory Practice Relationship, Meta Analysis, Money Management, Literacy, Teaching Methods, Intervention, Instructional Effectiveness, Well Being, Researchers
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: http://afcpe.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
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Author Affiliations: N/A