Impact of the FutureSmart Online Financial Education Course on Financial Knowledge of Middle School Students

Impact of the FutureSmart Online Financial Education Course on Financial Knowledge of Middle School Students

Abstract

The increasing role of schools in promoting financial literacy underscores the need to investigate the effectiveness of school-based financial education programs. This study examined FutureSmart—a free, co-curricular, online financial education course—using a quasi-experimental design with a diverse sample of middle school students nationwide. The study assessed the impact of the course on students’ financial knowledge, attitudes, and behaviors, and explored the association of program implementation factors with changes in student outcomes.

Financial knowledge gains were significant, substantial, and consistent across student subgroups and implementation factors for FutureSmart participants. Gains in financial attitudes and behaviors—specifically, financial confidence, engagement with parents about financial issues, current engagement with financial products, and intended future engagement with financial products—were not significant. The fundamental implication of this research is that FutureSmart effectively conveys financial knowledge to middle school students, contributing to a foundation for their future financial well-being.

Full content of the publication

Tags

Financial Behavior Financial Health Financial literacy

Authors

Gregg Mancari

Eliot Levine

Gaby Stevenson

Donna Spraggon

Jeremiah Johnson

Web

Additional Information

Date published

01/01/2021

Document Type

Research

Geographies

United States

Target

General

Pages

43

Source

AFCPE

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