Improving collegiate financial literacy via financial education seminars

Authors

  • Jonathan Handy Department of Finance, Western Kentucky University
  • Beth Pontari Department of Psychology, Furman University
  • Thomas Smythe Department of Economics and Finance, Florida Gulf Coast University
  • Suzy Summers Department of Business and Accounting, Furman University

DOI:

https://doi.org/10.61190/fsr.v29i4.3465

Keywords:

Personal finance, Retirement planning, Education, Financial literacy

Abstract

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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Published

2021-12-30

How to Cite

Handy, J., Pontari, B., Smythe, T., & Summers, S. (2021). Improving collegiate financial literacy via financial education seminars. Financial Services Review, 29(4), 315–341. https://doi.org/10.61190/fsr.v29i4.3465

Issue

Vol. 29 No. 4 (2021): Winter 2021

Section

New Original Submission

License

Copyright (c) 2021 Academy of Financial Services

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