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HOW BEHAVIORAL FACTORS ARE BEING IMPLEMENTED INTO TODAY'S FINANCIAL EDUCATION PROGRAMS
| Title: | HOW BEHAVIORAL FACTORS ARE BEING IMPLEMENTED INTO TODAY'S FINANCIAL EDUCATION PROGRAMS. |
 41 views 20 downloads |
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| Name(s): |
Perez, Esperanza, Author Gilkeson, Jim, Committee Chair University of Central Florida, Degree Grantor |
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| Type of Resource: | text | |
| Date Issued: | 2015 | |
| Publisher: | University of Central Florida | |
| Language(s): | English | |
| Abstract/Description: | This research examined 50 financial education programs within the state of Florida. The purpose of the research was to survey financial education program providers to see how they are evolving to meet the sociological, psychological and behavioral factors that affect individual's financial decision making. In constructing the survey I referenced articles, journals and publications regarding how certain factors can affect an individual and their ability to apply financial education to their daily life. This review of previous research showed that tailored education, to determine a participant's means, ability and goals, is the best way to help participants achieve financial independence. In this literature review no specific details were found on how programs are evolving or how existing program offerings are filling the need for tailored financial education. This topic is important because financial decisions that people make will not only affect current generations but also future generations. I contacted 50 agencies with a 27 question survey regarding their basic organizational structure, funding, program details, success determinants, primary program goals and focus, and marketing strategies. 36% of those contacted, or 18 organizations, responded. All responses were compiled and compared to determine relationships among program structures, offerings, and goals. The primary findings were that most organizations opened after 2000, have budgets under $100,000 funded primarily by two main sources, and their main goals are to provide basic knowledge and education to help participants improve financial decisions. In addition, most programs conduct a pre-post survey or get participant feedback to evaluate programs and use the number of participants at meetings as their main success factor. The majority of programs do not collect financial information, however they provide one-on-one counseling to focus on tailoring education to 501+ participants per year. Recommendations for future research are to increase the number of respondents, look deeper into funding requirements, the program lifecycle, marketing strategies employed and their effectiveness, and what specific financial education topics programs are addressing. This will add to existing research by providing a broader view of the financial education landscape and help programs to evolve to meet the need for tailored education. | |
| Identifier: | CFH0004729 (IID), ucf:45374 (fedora) | |
| Note(s): |
2015-05-01 B.S.B.A. Business Administration, Dept. of Finance Bachelors This record was generated from author submitted information. |
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| Subject(s): |
Finance education financial education programs financial capability savings financial identity financial literacy economic socialization budgeting finances financial inclusion self-sufficiency factors sociological factors behavioral factors psychological factors financial education evolution of financial education |
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| Persistent Link to This Record: | http://purl.flvc.org/ucf/fd/CFH0004729 | |
| Restrictions on Access: | public | |
| Host Institution: | UCF |
