A Learning Ecology Approach to Exploring What Sparks Individual Interest in Learning About Financial Literacy

• In Event: Financial Literacy: Something That Everyone Should Know

Abstract

Financial literacy is key to making good financial decisions and maintaining well-being. However, several initiatives have failed to produce optimal financial knowledge and behaviors via formal methods. We use the learning ecologies framework to explore what sparks individual interest in financial literacy and collected survey and interview data from university students. Survey results indicated that respondents were better educated than average about financial matters. Interview data suggest that informal contexts are key to familiarizing individuals with financial literacy, but consequential transitions in life were more likely to spark interest in learning about financial literacy. Based on initial findings, we identify the next steps in exploring the integration of formal and informal contexts and mobile and web technologies for financial literacy.

Authors

• Jose Sandoval, The Pennsylvania State University - University Park

• Priya Sharma, The Pennsylvania State University