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A Situated Learning Approach to Measuring Financial Literacy Self-Efficacy of Youth

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Title: A Situated Learning Approach to Measuring Financial Literacy Self-Efficacy of Youth
Language: English
Authors: Prevett, Pauline S. (ORCID 0000-0002-6692-0251), Pampaka, Maria (ORCID 0000-0001-5481-1560), Farnsworth, Valerie L. (ORCID 0000-0002-6729-036X), Kalambouka, Afroditi, Shi, Xin (ORCID 0000-0002-4930-7295)
Source: Journal of Financial Counseling and Planning. 2020 31(2):229-250.
Availability: Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Peer Reviewed: Y
Page Count: 22
Publication Date: 2020
Document Type: Journal Articles
Reports - Research
Education Level: High Schools
Secondary Education
Higher Education
Postsecondary Education
Descriptors: Teaching Methods, Money Management, Self Efficacy, High School Students, College Students, Foreign Countries, Test Validity, Measures (Individuals), Gender Differences
Geographic Terms: United Kingdom
ISSN: 1052-3073
Abstract: In setting a new direction for the field by highlighting the importance of measure development, this article offers an original approach to modeling financial literacy, in which theories of situated learning meet self-efficacy: an approach that we claim fits well with the aims of program evaluation. It presents results from the validation of a new set of measures, intended for use with 16- to 19-year-olds, of financial literacy self-efficacy pertaining to contexts such as the classroom or the everyday activity of personal banking. Self-efficacy implies a domain in which confidence is measured specific to that context--in this case financial literacy. The data were collected in the United Kingdom from high school and college students enrolled in an optional certificate course in personal financial management. The measures were validated on a subset (n = 171) of a larger sample and was an off-shoot project of a larger 3-year evaluation study of the financial literacy certificate course (n = 2,000), which provided additional mixed-methods data used in validation. Correlation analysis supports the contention--incorporated within the framework presented--that self-efficacy is context-specific and so measures of self-efficacy must adequately reflect the contexts in which the associated literacies reside.
Abstractor: As Provided
Entry Date: 2021
Accession Number: EJ1280289
Database: ERIC
FullText Links:
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  Data: A Situated Learning Approach to Measuring Financial Literacy Self-Efficacy of Youth
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  Data: <searchLink fieldCode="AR" term="%22Prevett%2C+Pauline+S%2E%22">Prevett, Pauline S.</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-6692-0251">0000-0002-6692-0251</externalLink>)<br /><searchLink fieldCode="AR" term="%22Pampaka%2C+Maria%22">Pampaka, Maria</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0001-5481-1560">0000-0001-5481-1560</externalLink>)<br /><searchLink fieldCode="AR" term="%22Farnsworth%2C+Valerie+L%2E%22">Farnsworth, Valerie L.</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-6729-036X">0000-0002-6729-036X</externalLink>)<br /><searchLink fieldCode="AR" term="%22Kalambouka%2C+Afroditi%22">Kalambouka, Afroditi</searchLink><br /><searchLink fieldCode="AR" term="%22Shi%2C+Xin%22">Shi, Xin</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-4930-7295">0000-0002-4930-7295</externalLink>)
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  Data: <searchLink fieldCode="SO" term="%22Journal+of+Financial+Counseling+and+Planning%22"><i>Journal of Financial Counseling and Planning</i></searchLink>. 2020 31(2):229-250.
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  Data: Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
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  Data: 22
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  Data: <searchLink fieldCode="DE" term="%22Teaching+Methods%22">Teaching Methods</searchLink><br /><searchLink fieldCode="DE" term="%22Money+Management%22">Money Management</searchLink><br /><searchLink fieldCode="DE" term="%22Self+Efficacy%22">Self Efficacy</searchLink><br /><searchLink fieldCode="DE" term="%22High+School+Students%22">High School Students</searchLink><br /><searchLink fieldCode="DE" term="%22College+Students%22">College Students</searchLink><br /><searchLink fieldCode="DE" term="%22Foreign+Countries%22">Foreign Countries</searchLink><br /><searchLink fieldCode="DE" term="%22Test+Validity%22">Test Validity</searchLink><br /><searchLink fieldCode="DE" term="%22Measures+%28Individuals%29%22">Measures (Individuals)</searchLink><br /><searchLink fieldCode="DE" term="%22Gender+Differences%22">Gender Differences</searchLink>
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  Data: <searchLink fieldCode="DE" term="%22United+Kingdom%22">United Kingdom</searchLink>
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  Data: In setting a new direction for the field by highlighting the importance of measure development, this article offers an original approach to modeling financial literacy, in which theories of situated learning meet self-efficacy: an approach that we claim fits well with the aims of program evaluation. It presents results from the validation of a new set of measures, intended for use with 16- to 19-year-olds, of financial literacy self-efficacy pertaining to contexts such as the classroom or the everyday activity of personal banking. Self-efficacy implies a domain in which confidence is measured specific to that context--in this case financial literacy. The data were collected in the United Kingdom from high school and college students enrolled in an optional certificate course in personal financial management. The measures were validated on a subset (n = 171) of a larger sample and was an off-shoot project of a larger 3-year evaluation study of the financial literacy certificate course (n = 2,000), which provided additional mixed-methods data used in validation. Correlation analysis supports the contention--incorporated within the framework presented--that self-efficacy is context-specific and so measures of self-efficacy must adequately reflect the contexts in which the associated literacies reside.
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  Label: Accession Number
  Group: ID
  Data: EJ1280289
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  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 22
        StartPage: 229
    Subjects:
      – SubjectFull: Teaching Methods
        Type: general
      – SubjectFull: Money Management
        Type: general
      – SubjectFull: Self Efficacy
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      – SubjectFull: High School Students
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      – SubjectFull: College Students
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      – SubjectFull: Gender Differences
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      – SubjectFull: United Kingdom
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      – TitleFull: A Situated Learning Approach to Measuring Financial Literacy Self-Efficacy of Youth
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