Morehead State University

Poster Title

Basic Personal Finance Knowledge: Who Knows What and What Do We Need to Know

Institution

Morehead State University

Abstract

This paper tests the personal financial knowledge of students prior to and after taking a personal finance course in the spring semester of 2008 at a regional university in Kentucky. Overall knowledge of the subject matter improves with education; however, the effect of family background of personal financial knowledge was found to be statistically significant when compared to pre test and post test scores. In addition, practitioners and professionals contribute knowledge accumulated from years of experience in the field of finances to recommend that educators focus on teaching the most basic concepts of personal finance to achieve the most significant impact to improve students' lives.

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Basic Personal Finance Knowledge: Who Knows What and What Do We Need to Know

This paper tests the personal financial knowledge of students prior to and after taking a personal finance course in the spring semester of 2008 at a regional university in Kentucky. Overall knowledge of the subject matter improves with education; however, the effect of family background of personal financial knowledge was found to be statistically significant when compared to pre test and post test scores. In addition, practitioners and professionals contribute knowledge accumulated from years of experience in the field of finances to recommend that educators focus on teaching the most basic concepts of personal finance to achieve the most significant impact to improve students' lives.