Financial Literacy: Does Modality Matter?

We compare the performance of financial literacy programs launched by the CFA Society Pittsburgh in residential settings (2017-2019) with virtual/hybrid programs during the COVID-19 pandemic (2020-2021). Pre-test baseline knowledge assessment shows that female students scored lower on subjective and objective financial knowledge questions and self-esteem. However, the global pandemic did not impact the effectiveness of programs based on modality. Students experienced a statistically significant improvement in all four assessment areas of financial literacy. The largest gains in subjective and financial knowledge center on retirement planning. Objective knowledge and self-esteem improvements occur most in credit and inflation. Female students experience more significant gains in subjective knowledge, objective knowledge, and self-esteem.

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Work Title Financial Literacy: Does Modality Matter?
Access
Open Access
Creators
  1. Greg Filbeck
  2. X Zhao
Keyword
  1. Financial literacy
  2. Survey
  3. Outreach
  4. Education
  5. Teaching modality
License In Copyright (Rights Reserved)
Work Type Article
Publisher
  1. Financial Services Review
Publication Date 2023
Publisher Identifier (DOI)
  1. https://doi.org/10.61190/fsr.v31i2/3.3538
Deposited September 09, 2024

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Version 1
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  • Created
  • Added Financial_Literacy_Does_Modality_Matter_-_Final_-_02-19-22_-_Changes_Accepted.pdf
  • Added Creator Greg Filbeck
  • Added Creator X Zhao
  • Published
  • Updated
  • Updated Keyword, Publication Date Show Changes
    Keyword
    • Financial literacy, Survey, Outreach, Education, Teaching modality
    Publication Date
    • 2023-01-01
    • 2023
  • Updated Publisher Identifier (DOI) Show Changes
    Publisher Identifier (DOI)
    • https://doi.org/10.61190/fsr.v31i2/3.3538