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Money savvy youth: evaluating the effectiveness of financial education for fourth and fifth graders

Author

Listed:
  • Laura Choi
  • Tina Eng
  • Charles G. Go
  • Wilson Pho
  • Karen Varcoe

Abstract

While there are studies on the impact of financial education on teens, there is a lack of research on programs targeted at elementary school-aged youth. To address this gap, we evaluated the effectiveness of Money Savvy Youth (MSY), a financial education program for fourth and fifth graders, developed by the East Bay Asian Local Development Corporation. MSY training was delivered in the classroom once a week over the course of five weeks during the 2011-2012 school year, and targeted a diverse and primarily low-income student population attending public schools in the Oakland Unified School District in Oakland, California. Based on pre-test, posttest, and follow-up test analyses, we found that students who participated in the MSY program demonstrated an increase in financial knowledge and self-reported positive financial behaviors.

Suggested Citation

  • Laura Choi & Tina Eng & Charles G. Go & Wilson Pho & Karen Varcoe, 2012. "Money savvy youth: evaluating the effectiveness of financial education for fourth and fifth graders," Community Development Working Paper 2012-02, Federal Reserve Bank of San Francisco.
    • Handle: RePEc:fip:fedfcw:2012-02
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