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ERIC Number: EJ872254
Record Type: Journal
Publication Date: 2009-Jun
Pages: 9
Abstractor: As Provided
Reference Count: 17
ISSN: ISSN-0146-3934
Financial Literacy of Freshmen Business School Students
Rosacker, Kirsten M.; Ragothaman, Srini; Gillispie, Michael
College Student Journal, v43 n2 p391-399 Jun 2009
In recent years, financial literacy has increasingly captured the attention of the banking and financial industries, policy makers, government agencies, public interest groups, and members of the news media. These interested parties are concerned that consumers lack the basic skills required to make decisions beneficial to their economic welfare. Financial illiteracy can hinder one's ability to achieve long-term goals such as succeeding at higher education, owning a home, and financing retirement. This study investigates the efficacy of having upper-level accounting majors teaching basic financial literacy concepts to freshmen business majors. Specifically, upper-level accounting majors at a small mid-western university developed and conducted financial literacy training workshops for freshmen business majors during the 2007/2008 fall and spring semesters. Both quantitative and qualitative results that flowed from the training workshops are reported. Several positive outcomes accompanied the project. First, the delivery of this training provides a foundation of financial literacy that will hopefully enhance their ability to make financial decisions into the future. Second, the upper-level accounting major mentors enhanced their leadership, project management, teamwork, and public speaking skills while concurrently also expanding their own financial literacy. Each of these skills enumerated constitute vital components in the professional portfolio for individuals seeking a successful career in business as well as personal financial stability. (Contains 2 tables.)
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A