ABSTRACT
An intervention of three sessions with video vignettes has been applied to measure the impact of this kind of visual tools in the financial literacy (FL) levels of the participants. The intervention builds on video animated response-based simulations. The house, car, and pension plan choosing as the Key Financial Decisions (KFD) are the focus of this research. The content design of this videos-based in case format where the participants have an active role within a story, reacting with the question-answer action. A randomized sample of university students is evaluated with a financial literacy standardized Scale to compare the results of ex-ante vs. ex-post. During the unique session of this intervention, the four video vignettes about KFD with 20 questions about Knowledge, Self-Efficacy, and Confidence components applied as a feedback system to measure its impact. The survey robustness within the video vignettes statistically tested, and the positive effect of this intervention on the financial literacy level demonstrated, as well. There is an increased FL score of the participants among the three components; knowledge shows the most significant positive changes. Their impact on public policy and the Implications for future research will be analyzed in further discussions.
- T. A. Hanson and P. M. Olson, "Financial literacy and family communication patterns," J. Behav. Exp. Financ., vol. 19, pp. 64--71, 2018.Google ScholarCross Ref
- A. Grohmann, "Financial literacy and financial behavior: Evidence from the emerging Asian middle class," Pacific Basin Financ. J., vol. 48, no. January, pp. 129--143, 2018.Google ScholarCross Ref
- L. M. Instruments, "Making Sense of Financial Capability Surveys around the World," no. February, 2013.Google Scholar
- A. Atkinson, F. Messy, L. Rabinovich, and J. Yoong, "Financial Education for Long-term Savings and Investments," OECD Work. Pap. Financ. Insur. Priv. Pensions, vol. OECD Publi, no. 39, pp. 1--33, 2015.Google Scholar
- L. Muñiz-rodríguez, P. Alonso, L. J. Rodríguez-muñiz, R. Vanderlinde, and M. Valcke, "Exploring the Effectiveness of Video-Vignettes to Develop Mathematics Student Teachers ' Feedback Competence," vol. 14, no. 11, 2018.Google Scholar
- A. Lusardi, A. Samek, A. Kapteyn, L. Glinert, A. Hung, and A. Heinberg, "Visual tools and narratives: New ways to improve financial literacy," J. Pension Econ. Financ., vol. 16, no. 3, pp. 297--323, 2017.Google ScholarCross Ref
- R. Clark, A. Lusardi, O. S. Mitchell, R. Clark, A. Lusardi, and O. S. Mitchell, "EMPLOYEE FINANCIAL LITERACY AND RETIREMENT BEHAVIOR: A CASE STUDY GFLEC Working Paper Series," no. August, 2015.Google ScholarCross Ref
- A. Capuano and I. Ramsay, "What Causes Suboptimal Financial Behaviour? An Exploration of Financial Literacy, Social Influences and Behavioural Economics," Ssrn, no. 540, 2011.Google Scholar
- C. D. B. Scheresberg, "Financial literacy and financial behavior among young adults: Evidence and implications," Numeracy, vol. 6, no. 2, pp. 1--21, 2013.Google Scholar
Index Terms
- The Impact of Video-Vignettes to Enhance the Financial Literacy Level of Ecuadorian University Students
Recommendations
Is the dosed video-vignettes intervention more effective with a longer-lasting effect? A financial literacy Study.
ICETC '20: Proceedings of the 12th International Conference on Education Technology and ComputersAn analysis comparing short and long periods of video vignettes intervention and a follow-up evaluation has been applied to measure the compared impact and the durability of this kind of visual tools in the financial literacy (FL) levels of the ...
Financial Literacy in Student Financial Management Behavior in the Digital Age
ICLIQE 2020: Proceedings of the 4th International Conference on Learning Innovation and Quality EducationThis study describes the condition of financial literacy at a young age which is described by the daily financial management behavior of students. This research is survey research. The informants in this study were students of Sebelas Maret University ...
Teens, Parents, and Financial Literacy
DIS '16: Proceedings of the 2016 ACM Conference on Designing Interactive SystemsTeens' financial literacy, their ability to understand financial concepts and make effective decisions, is an important topic in the US. Educational programs targeted at teens have had little impact. Our study investigated if parents should play a role ...
Comments