Improving collegiate financial literacy via financial education seminars
DOI:
https://doi.org/10.61190/fsr.v29i4.3465Keywords:
Personal finance, Retirement planning, Education, Financial literacyAbstract
This paper describes a personal finance program (PFP) developed at a private liberal arts university aimed to improve financial literacy. We provide a program overview, with details about recruiting, pro- gram structure, and curriculum. Using a multivariate framework, we examine program effectiveness at improving students’ financial knowledge and confidence in their financial future. Our findings demon- strate that financial knowledge and confidence improve. Additionally, women (minorities) narrow their fi- nancial knowledge and confidence gaps when compared with men (Caucasians) and the control group. Finally, follow-up analyses show that increases in confidence appear justified (vs. misplaced) in that they are calibrated to increases in knowledge.
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