The Effects of Financial Education on the Financial Knowledge of High School Students |
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| Authors: | WILLIAM B. WALSTAD KEN REBECK RICHARD A. MacDONALD |
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| Affiliation: | 1. William B. Walstad (wwalstad1@unl.edu) is Professor of Economics at the University of Nebraska-Lincoln;2. Ken Rebeck (kcrebeck@stcloudstate.edu) is Associate Professor of Economics, and Richard A. MacDonald (macdonald@stcloudstate.edu) is Assistant Professor of Economics, both at St. Cloud State University in Minnesota. |
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| Abstract: | This study investigated the effects of a financial education program on high school students' knowledge of personal finance. A comparison of pretest and posttest scores achieved on a reliable and valid thirty-item instrument suggested that the Financing Your Future curriculum increased financial knowledge across many concepts. The scores increased regardless of the course in which the curriculum was used and across student characteristics. The assessment contributes to the growing literature showing that a well-specified and properly implemented program in financial education can positively and significantly influence the financial knowledge of high school students. |
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