The study sought to understand the relationship between the type of state mandate for financial education and 18-24-year-olds' financial literacy and financial capability. Using extant data from national surveys about financial literacy and financial capability in 2015 and 2018, this study determined there was rarely a significant difference in young adults' financial literacy and financial capability as related to the level of financial education they received in high school. For 2015 literacy, the education mandate as a main effect within ethnicity was p = .025. Within certain demographic main effects, there were significant results. In 2015, ethnicity and educational attainment were each significant for financial literacy p = .000. In 2018, gender, ethnicity and educational attainment were each significant for financial literacy, p = .000, while income was significant p = .005. In 2015, ethnicity was significant for financial capability p = .001, while educational attainment and income were each p = .000. In 2018, gender was significant for financial capability p = .016, while ethnicity, educational attainment, and income were each significant p = .000. Interaction effects existed in some cases, with 2015 financial literacy at gender by education mandate p = .008 and income by education mandate p = .040; for 2015 capability, gender by education mandate p = .019; for 2018 capability, educational attainment by education mandate p = .024. Understanding how demographic factors influence financial literacy and financial capability and can influence how policymakers and educators address these differences to provide effective financial education for all students.
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Doctor of Education (Ed.D.)
College of Community Innovation and Education
Educational Leadership and Higher Education
Educational Leadership; Executive Track
Length of Campus-only Access
Doctoral Dissertation (Open Access)
Carlson, Elise, "An Analysis of the Relationships Between State Mandates for Financial Education and Young Adults' Financial Literacy and Financial Capability" (2020). Electronic Theses and Dissertations, 2020-. 24.