The impact of undergraduate personal finance education on individual financial literacy, attitudes and intentions

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

Financial literacy education features prominently among the policy options available to improve personal financial decision-making. Notwithstanding calls to expand delivery of financial literacy units at university level, such offerings are relatively rare with little evaluation. We provide an evaluation of the impact on financial literacy, financial attitudes and financial behaviour intentions of a semester unit in personal finance delivered to undergraduates at an Australian university, carefully controlling for confounding effects in the analysis. We report increases in objective and subjective financial literacy and an additional gender effect. Contrary to previous speculation, we do not find overconfidence as an associated outcome.

Original languageEnglish
Pages (from-to)177-217
Number of pages41
JournalAccounting and Finance
Volume59
Issue number1
DOIs
Publication statusPublished - Mar 2019

Cite this

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title = "The impact of undergraduate personal finance education on individual financial literacy, attitudes and intentions",
abstract = "Financial literacy education features prominently among the policy options available to improve personal financial decision-making. Notwithstanding calls to expand delivery of financial literacy units at university level, such offerings are relatively rare with little evaluation. We provide an evaluation of the impact on financial literacy, financial attitudes and financial behaviour intentions of a semester unit in personal finance delivered to undergraduates at an Australian university, carefully controlling for confounding effects in the analysis. We report increases in objective and subjective financial literacy and an additional gender effect. Contrary to previous speculation, we do not find overconfidence as an associated outcome.",
keywords = "Financial literacy, Financial education, Undergraduate education, Financial attitudes, Financial behaviour, HIGH-SCHOOL, CURRICULUM",
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KW - Undergraduate education

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KW - Financial behaviour

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