Translating financial education into behavior change for low-income populations

Angela C. Lyons, Yunhee Chang, Erik M. Scherpf

Research output: Contribution to journalArticlepeer-review


The impact that financial education had on the financial behaviors of (a) the agency staff who were trained to deliver the program and (b) the low-income individuals who participated in the program was investigated. Specifically, the researchers examined the relationship between total number of financial education lessons completed, prior financial experience, and improvement in individuals' financial behaviors. The results provide some evidence that financial education may result in improved financial behaviors. However, the findings suggest that prior level of financial experience may matter more than the number of lessons completed. Researchers may want to re-examine the indicators currently being used to show program impact and whether financial knowledge is the appropriate catalyst to foster behavior change.

Original languageEnglish (US)
Pages (from-to)27-45
Number of pages19
JournalJournal of Financial Counseling and Planning
Issue number2
StatePublished - 2006


  • Financial education
  • Financial socialization
  • Low-income populations
  • Program evaluation

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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