Magister Commercii - MCom / This thesis reports on my investigation into undergraduate students' knowledge of financial literacy (FL) and explores ways of improving their FL by using and experimenting with alternative Financial Literacy Education (FLE) methods and techniques. In attempting this, I report on the educational interventions that I attempted. These are critical literacy approaches that included drama teaching techniques that formed part of a praxis approach to FLE. Low levels of financial literacy are of great concern in South Africa because South Africans have high rates of debt which the researcher asserts are an indication of misconceptions, misunderstanding, and also a lack of financial literacy. South Africa needs to have undergraduate students that are financially literate who apply critical reasoning to make critical financial decisions.

This Financial Literacy Program Model is a proposed solution to the problem of financial illiteracy among the working poor. Over 80 percent of adults in America are not financially literate, yet more than half believe themselves to be (OECD, 2005). No community is more adversely affected by this fallacy than the working poor. Earning income, yet living below the poverty line, this group is as deceived as any other by the misconception that increased income is their sole remedy rather than a small part of the complex equation greatly influenced by financial literacy. Drawing upon a review of related literature, observation of a successful program, and interviews, three barriers to financial literacy education are presented and addressed in this program’s design. 1) Overblown financial self-efficacy spawns the popular belief held by most financially illiterate individuals that they are financially literate (OECD, 2005). 2) Lack of differentiation is prevalent. Existing programs cover basic financial topics with a one size fits all approach. 3) Although attrition rates are high, there are few motivational interventions in place within currently existing programs. These obstacles combined with the unique set of circumstances faced by the working poor exacerbate financial illiteracy and its related issues. This program was designed as part of the I Am Potential, Inc initiative (IAP) – an effort to assist individuals who desire to enhance their lives. In particular, IAP targets underserved communities. The “I Am Potential” Financial Literacy Program Model and Implementation Plan addresses these issues through instructional design with pre- and post-treatment financial self efficacy and motivation assessments along with differential instructional delivery methods, including a variety of modes and durations available for a distinctive learner population. The iv model accommodates the subsequent addition of coursework for enhancement in other life domains.

Doctor of Philosophy / Department of Family Studies and Human Services / Martin Seay / Retirement savings and income projections are among the most financially complex calculations individual Americans will encounter. The movement towards self-directed employer retirement plans has shifted the responsibility for securing an adequate retirement increasingly to the employee, who may lack the financial understanding needed for proper calculations and decisions. There is an expressed preference among employees for the delivery of financial education in the workplace, where a majority of their financial knowledge is obtained. However, adoption of workplace comprehensive financial education programs has been slow due to the cost, time commitment, and lack of empirical support for their value. While there have been some mixed findings, literature has generally supported associations between financial education programs and improved literacy and behaviors. A great deal of these mixed results can be explained by the lack of consistency among definitional frameworks for financial literacy, the lack of consistent measures, and the variety of topics and methods used, all of which limit the ability to establish causal support for the educational program’s effectiveness. However, the preference for financial education in the workplace among employees suggests both the need and desire for more comprehensive financial education offered by employers. The purpose of this research was to investigate and test the links between the components in the framework for financial literacy by testing participation in a worksite comprehensive financial education program. In Essay One, the link between financial education and change in financial literacy was tested. Essay Two tested the link between the financial education program and financial well-being. In Essay Three, the link between financial literacy and financial behavior was explored. The results indicated associations between all three links in the financial literacy model, utilizing both primary research employing quasi-experimental methods, and secondary research from a larger national data sample. For financial educators who are interested in developing and facilitating comprehensive financial education programs for employee or other groups, this research can help provide support and guidance for those efforts. If comprehensive financial education programs can be better positioned to help improve the levels of financial literacy among Americans, fewer negative associated behavioral effects, such as lack of planning and under saving for retirement, may occur.

Thesis (MDF)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: This research assignment measures the relative odds of certain savings and debt related outcomes based on various domains of financial literacy, I.E. financial control, financial product choice and financial knowledge/understanding? It also measures the relative odds of certain savings and debt related outcomes based on individual elements of each of these domains. Finally it measures the significance in which overall financial literacy, as a product of the various domains, affect the odds of certain financial outcomes relative to other more conventional demographic determinants, such as income, education and age? The data that informs this research was obtained from the Financial Services Board (FSB) of South Africa, who commissioned the Human Sciences Research Council (HSRC) to conduct the original data collection process by means of a national survey, in 2011. The salient findings of this research include that the relative odds of savings outcomes are by and large more significantly affected by both the individual elements of– and the various domains of financial literacy, than debt related outcomes. Financial control as a domain of financial literacy has the greatest impact on the relative odds of both savings and debt related outcomes, while financial knowledge/understanding has a comparatively weak influence on the relative odds of savings and debt related outcomes. Financial control also has a significant influence on financial outcomes relative to conventionally significant determinants of financial outcomes, namely income and education, especially among lower income and or non-tertiary educated segments of the population. The individual elements of financial control that appear to be most significant in its influence on the relative odds of savings and debt related outcomes, include the use of a budget and an individual‟s reliability in paying his or her bills. The individual elements of the financial product choice domain that have the largest and or most consistent influence on the relative odds of savings outcomes are the extent of research before obtaining financial products and the level of general awareness of financial products. On the other hand, for debt related outcomes, the most influential independent variables (part of the financial product choice domain) are recent regret regarding financial product choice, recent wasteful expenditure on financial products as well as the extent to which an individual is able to identify suitable products. In terms of the individual elements of financial knowledge and understanding, the ability of individuals to understand compound interest affects the relative odds of debt related outcomes most consistently. Forevery savings outcome of interest, the predictor variable (part of the financial knowledge/understanding domain) with the most significant influence is the ability to understand interest on deposits. The research furthermore uncovered that overall financial literacy has a consistently significant influence on savings outcomes relative to conventional determinants of financial outcomes such as income, age and education if the highest categories of income and education are omitted from analysis. Financial literacy is therefore a very good predictor of saving related outcomes when considering the lower income and or non-tertiary educated segments of the population.

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Doctor of Philosophy / Department of Family Studies and Human Services / Walter Schumm and Kristy Archuleta / Financial literacy has become a prominent topic of discussion since the latest economic downturn. Although many studies reveal that our youth’s financial literacy is low, no study to date provides an overview as to how our youth are learning financial literacy concepts. This dissertation seeks to explore how homeschooling families prepare their children to be financially literate. This study reviewed four sensitizing concepts: (a) communication, (b) engagement, (c) outside influences, and (d) parental perspectives based on the learning theory: Legitimate Peripheral Participation. Twenty primary educators in homeschooling families from a variety of states were interviewed for this study. Out of the twenty participants, eight were classified in the elementary age group, five were classified in the middle school age, and seven were classified in the high school age. Each sensitizing concept was examined for each school age group. This exploratory study found that parents who homeschool tend to focus on three main topics of personal finance: debt or the avoidance of debt, savings, and budgeting. Little evidence suggests that parents help their children with the mechanics of these behaviors. There were three important findings extracted in this study. First, the results suggest that homeschooling parents need to become better prepared to teach their children about money, and second, that personal finance should be thought of as a core subject in the elementary age years in lieu of just a life skill. Finally, this study found that there is a large focus around personal finance topics in the elementary age years and the high school years, with little attention to personal finance behaviors for the middle school age group. The results of this study provide those entities that advocate improved financial literacy an understanding as to the “how” parents who homeschool prepare their kids to understand money.

Women’s empowerment and gender equality contribute to the achievement of a sustainable world according to United Nations and Agenda 2030. Previous research highlights the impact of microfinance program on women’s empowerment. Through a lack in previous research, the aim of this report emerged. The aim is to describe and analyse women’s experience of how a microfinance program focused on women’s economic empowerment in the Philippines affect their financial literacy and in what ways financial literacy can be related to their empowerment. The study consists of a qualitative methodology and elements of a deductive approach. The collected empirical data consist of documents, observations and interviews. The results show that, through seminars and participation, the women got increased their knowledge in economics. Women’s participation in the microfinance program also lead to empowerment. The result shows that the women bring the knowledge from the program home to their personal finances and affects the individual’s environment. The impact of the microfinance program has larger effects for many women, not only the one participating in the program. Therefore, to understand the phenomena in this study, it is necessary to include experiences from outside the microfinance program. Because on the result in this report, the suggestions for future research is to investigate the correlation between the microfinance program and women’s personal finances. / Enligt FN:s mål Agenda 2030 är jämställdhet och att alla kvinnor har makt att bestämma över sina liv en förutsättning för en hållbar utveckling i världen. Tidigare forskning lyfter fram vad mikrofinans program har för inverkan på kvinnors egenmakt (empowerment). På grund av brist i tidigare forskning har syftet med denna studie tagits fram. Syftet är att beskriva och analysera kvinnors egna uppfattningar om hur ett mikrofinans program, vars syfte är att öka kvinnors egenmakt i Filippinerna påverkar finansiell läskunnighet (financial literacy). Vidare studeras hur ekonomisk läskunnighet kan relateras till kvinnors egenmakt. Studien utgår från en kvalitativ metod och inslag av deduktiv ansats. Det empiriska materialet har samlats in genom dokument, observationer samt intervjuer. Resultatet av kvinnornas uppfattning är att de ökat sin ekonomiska läskunnighet genom seminarier och deltagande i programmet. Kvinnors deltagande resulterar också i att de ökat sin egenmakt. Resultatet visar också på att kvinnorna tar med sig den nya kunskapen från programmet hem till den privata ekonomin och påverkar individens miljö. Uppfattningen är att mikrofinans programmet har större effekter än bara för de som deltar i programmet. Därmed, för att förstå fenomenet i denna studie är det nödvändigt att ta in effekter och erfarenheter utifrån mikrofinans programmet. För vidare forskning föreslår vi att djupare analysera sambandet mellan mikrofinans program och kvinnors privata ekonomi. Med tanke på resultatet i denna rapport, föreslår vi att fortsatt forskning djupare analysera sambandet mellan mikrofinans program och kvinnors privata ekonomi.

This thesis aims to capture the notion of "Financial iliteracy" as a phenomenon of the present in the context of the Czech Republic, or of the region with the highest unemployment and specific problems - the Most region. The introductory part defines basic concepts connected with financial iliteracy, its education support in the Czech Republic and the measurement possibilities. The next part concentrates on the Most region, on the concrete examples of financial iliteracy support on this location and it is followed by a survey. The conclusion will look at the evaluation of results gained by the survey and recommendations for financial iliteracy support optimization.

This is the story of a financial literacy endeavor that sputtered, surged, and then died. While it did not succeed at my institution, I share the story and the resources in the hope that its successes and failures might be of use to others. Although I had already been a professional librarian for seven years when I took my new position as Graduate Research and Instruction Librarian at East Tennessee State University near the beginning of fall semester 2014, I had never worked in public services. Fortunately, I had been a teacher, received professional training in pedagogy, and was comfortable with the instruction piece of my job. “Outreach” was a little more difficult. For my first effort, I chose something I believed would appeal to a wide diversity of students: money.

Content of marketing strategies not only appeals to consumers based on their demographics and identity but consumers can also respond more positively to marketing strategies that target their purchasing behaviors. The purpose of this qualitative multiple case study was to explore how financial advisors at credit unions in Jamaica are using marketing strategies to advance millennial prospects, in an environment where consumers recognize commercial banks as the dominant institution in the financial industry. The conceptual framework for this study was the sustainability theory, with a direct focus on economic sustainability. The data collection process involved semistructured face-to-face-interviews with 5 financial advisors from credit unions in Jamaica to explore marketing strategies they used to increase the sale of financial services to millennials to improve their businesses' performance. Analysis of the audio recordings and hand-written field notes included methodological triangulation and grouping information into themes that were prevalent in the data. The coding process yielded 5 major themes -marketing strategies and funding, financial literacy, the impact of information technology, product design, development and modification and measures of success. The study results provided by the financial advisors to millennials could show how marketing communication strategies can contribute to millennials' financial literacy and enhance their financial stability and extend their economic sustainability.