On the Effectiveness of Financial Literacy Education: Evidence from the Investor Education Fund
Published: 2016
Author(s) Name: Andrew Carrothers |
Author(s) Affiliation: Professor of Finance, School of Business, University of Prince Edward Island, Canada.
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Abstract
This paper is the first to evaluate the effectiveness of youth financial literacy education programs in an environment of a government mandate to embed financial literacy education across the curriculum in grades four to twelve. It presents results from a unique data set of survey and focus group responses about the active efforts by a non-profit organization, the Investor Education Fund, to implement a suite of support tools designed to make teachers more effective at delivering financial literacy education in the classroom. Overall, the results suggest the IEF is effective at improving financial literacy awareness, intentions, and actual behaviors for both teachers and students.
Keywords: Financial Literacy, Focus Group Study, Education Program.
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