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ERIC Number: EJ1074652
Record Type: Journal
Publication Date: 2015
Pages: 8
Abstractor: As Provided
Reference Count: 35
ISBN: N/A
ISSN: ISSN-1052-3073
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.
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