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Financial Literacy and Social Change
What is the relationship between financial literacy and social change?
Comparing change in financial literacy in post-college and non-college students
Quantitative
Hypothesis- There is a significant difference in financial literacy between college and non-college students.
Introduction- Financial literacy implies a number of things: understanding the basics of not only personal finance, but the broader approach to global finance. There is a distinction, however, between the intellectual world of college students and non-college students. College students, for instance, might be exposed to introductory economics, political science, business or other courses that would grant them access to a larger, more global perspective of finance. However, because they are often living in dorms, may be partially supported by loans or grants or funds from parents, their view of finances will be understandably skewed to the more intellectual approach. However, non-college bound students often must enter the workforce, fend for themselves, and take on numerous financial burdens and responsibilities at the micro level. Thus, there are two approaches to valid financial literacy within this topic: the micro version (home loans, banking, interest rates, taxation, etc.) and the macro version (global trade, housing, social issues,...
Families, often need help to make informed and appropriate decisions; especially considering the Housing Fallout and not the numerous kinds of financial instruments available to almost every income level. By providing access to more fiscal information, not only can informed decision making occur, but in the long-term, there will be far greater impact on cultural and psychological factors within the community. What tends to happen, it seems, is that the greater the fiscal literacy and exposure to social and community issues, the greater the sense of social responsibility and desire and ability to help change society (Belland Lerman, 2005).
Approaches to Research Issues - While I have chosen a quantitative approach for this project, and will be measuring attitudes and believes using a predetermined scale, there is certainly room for qualitative and mix-methods without our hypothesis testing. The qualitative case study method was appropriate, as the current study examines the attitudes of college and non-college students within the context of learned facts or analyses of financial literacy. The participants were asked to respond to questions in an online or written interview; no…
REFERENCES
Bell, E. And Lerman, R. (2005). Can Financial Literacy Enhance Asset Building. The Urban
Institute Opportunity and Ownership Project. 6. Retrieved from: http://www.urban.org/UploadedPDF/311224_financial_literacy.pdf
Creswell, J.W., Hanson, W.E., Clark, V.L., & Morales, A. (2007). Qualitative research designs: Selection and implementation. The Counseling Psychologist, 35, 236-264. Retrieved from Sage Journals Online database.
Howe, K. (1988). Against the Quantitative-Qualitative Incompatibility Thesis: Dogmas Die Hard. Educational Leadership. Retrieved from: http://nepc.colorado.edu/files/Howe_Against_the_Quant_Qual_Incompatibility_Thesis.pdf
Neill, J. (February 28, 2007). Qualitative vs. Quantitative Research: Key Points in a Classic Debate. Wilderdom.com. Retrieved from: http://wilderdom.com/research/QualitativeVersusQuantitativeResearch.html
Financial Literacy of Post College Student and Non-College Student The relevant research questions and hypothesis would be the following: Research question: Is there any improvement in financial literacy between a non-college student and a post college student. Positive: significant differnce is found in quality of financial literacy in a post-college student as compared to a non-college student Negative: no significant differences are found in quality of financial literacy in a post-college student
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