Keywords

Financial literacy, financial illiteracy, adult education, personal finance, financial education, financial literacy education, working poor, poverty, social service, financial literacy program, program model

Abstract

This Financial Literacy Program Model is a proposed solution to the problem of financial illiteracy among the working poor. Over 80 percent of adults in America are not financially literate, yet more than half believe themselves to be (OECD, 2005). No community is more adversely affected by this fallacy than the working poor. Earning income, yet living below the poverty line, this group is as deceived as any other by the misconception that increased income is their sole remedy rather than a small part of the complex equation greatly influenced by financial literacy. Drawing upon a review of related literature, observation of a successful program, and interviews, three barriers to financial literacy education are presented and addressed in this program’s design. 1) Overblown financial self-efficacy spawns the popular belief held by most financially illiterate individuals that they are financially literate (OECD, 2005). 2) Lack of differentiation is prevalent. Existing programs cover basic financial topics with a one size fits all approach. 3) Although attrition rates are high, there are few motivational interventions in place within currently existing programs. These obstacles combined with the unique set of circumstances faced by the working poor exacerbate financial illiteracy and its related issues. This program was designed as part of the I Am Potential, Inc initiative (IAP) – an effort to assist individuals who desire to enhance their lives. In particular, IAP targets underserved communities. The “I Am Potential” Financial Literacy Program Model and Implementation Plan addresses these issues through instructional design with pre- and post-treatment financial self efficacy and motivation assessments along with differential instructional delivery methods, including a variety of modes and durations available for a distinctive learner population. The iv model accommodates the subsequent addition of coursework for enhancement in other life domains.

Notes

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Graduation Date

2014

Semester

Spring

Advisor

Hopp, Carolyn

Degree

Doctor of Education (Ed.D.)

College

College of Education and Human Performance

Department

Dean's Office, Education

Degree Program

Education

Format

application/pdf

Identifier

CFE0005203

URL

http://purl.fcla.edu/fcla/etd/CFE0005203

Language

English

Release Date

May 2014

Length of Campus-only Access

None

Access Status

Doctoral Dissertation (Open Access)

Subjects

Dissertations, Academic -- Education and Human Performance, Education and Human Performance -- Dissertations, Academic

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