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The effect of financial education on pupils’ financial knowledge and skills: Evidence from a Solomon four-group design

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  • Shekinah E. Dare
  • Wilco W. van Dijk
  • Eric van Dijk
  • Lotte F. van Dillen
  • Marcello Gallucci
  • Olaf Simonse

Abstract

The present study used a Solomon four-group quasi-experimental design to examine the short-term effect of a large-scale national financial education program on children’s knowledge and skills in responsible spending and performing transactions effectively. Our study included a representative sample of Dutch pupils in the fifth grade of primary school (N = 2,650). Controlling for different children-specific characteristics, results showed that the program increased pupils’ knowledge and skills scores in performing transactions effectively, but not in responsible spending. The insights gained from the present study show how financial education programs that enable children to immediately apply what they learn in practice can improve children’s knowledge and skills regarding certain financial competencies.

Suggested Citation

  • Shekinah E. Dare & Wilco W. van Dijk & Eric van Dijk & Lotte F. van Dillen & Marcello Gallucci & Olaf Simonse, 2020. "The effect of financial education on pupils’ financial knowledge and skills: Evidence from a Solomon four-group design," The Journal of Educational Research, Taylor & Francis Journals, vol. 113(2), pages 93-107, February.
    • Handle: RePEc:taf:vjerxx:v:113:y:2020:i:2:p:93-107
    DOI: 10.1080/00220671.2020.1733453
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    Cited by:

    1. Amagir, Aisa & van den Brink, Henriëtte Maassen & Groot, Wim & Wilschut, Arie, 2022. "SaveWise: The impact of a real-life financial education program for ninth grade students in the Netherlands," Journal of Behavioral and Experimental Finance, Elsevier, vol. 33(C).
    2. Morshadul Hasan & Thuhid Noor & Jiechao Gao & Muhammad Usman & Mohammad Zoynul Abedin, 2023. "Rural Consumers’ Financial Literacy and Access to FinTech Services," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 780-804, June.
    3. Fungamwango Hashel Mwansa & Kaulu Goodwell & Simeon Mbewe, 2024. "Learners’ Active Engagement During Lessons on the Turning Effect of a Force (TEOF): The Impact of the Peer-Assisted Learning (PAL) Strategy," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 1125-1138, January.

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