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The Features and Effectiveness of the Keys to Financial Success Curriculum

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Author Info

  • CARLOS J. ASARTA

    ()
    (Department of Economics,University of Delaware)

  • ANDREW T. HILL

    ()
    (Federal Reserve Bank of Philadelphia)

  • BONNIE T. MESZAROS

    ()
    (Department of Economics,University of Delaware)

Abstract

The global financial crisis of 2007-2009 has generated a renewed interest in including personal finance in the secondary curriculum in the United States and in many countries around the world. This paper explains the features of a successful and unique high school personal finance curriculum, Keys to Financial Success, which is offered by a consortium of partners in Delaware and Pennsylvania, and is available to teachers from the Federal Reserve Bank of Philadelphia. Using the Financial Fitness for Life High School Test (FFFL-HS Test), pre- and posttest results are reported for 967 students who participated in a one-semester Keys course during the 2011 and 2012 academic years. The survey results indicate that the training of teachers in the Keys curriculum, and the implementation of a one-semester Keys course, significantly improve the average personal finance knowledge of students in each of the standards and concept areas of the FFFL-HS Test. These results contribute to the growing literature showing the positive effects of a well-designed personal finance course, taught by properly trained teachers, on the financial knowledge of high school students, and should be of interest to an international audience.

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File URL: http://www.lerner.udel.edu/sites/default/files/ECON/PDFs/RePEc/dlw/WorkingPapers/2013/UDWP13-13.pdf
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Bibliographic Info

Paper provided by University of Delaware, Department of Economics in its series Working Papers with number 13-13.

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Length: 16 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:dlw:wpaper:13-13.

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Postal: Purnell Hall, Newark, Delaware 19716
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Web page: http://www.lerner.udel.edu/departments/economics/department-economics/
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Related research

Keywords: Financial Education; Literacy; Assessment; K-12;

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  1. Ian Hathaway & Sameer Khatiwada, 2008. "Do financial education programs work?," Working Paper 0803, Federal Reserve Bank of Cleveland.
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