A 1-week financial fitness camp raised financial knowledge of low-income 8th graders by roughly 12 percentage points on a pretest–posttest design¶

Claim · All claims
Evidence · 1 study · causal r1 · q2
Currency · newest study 2016 · not yet checked against its sources · not reviewed by a person

Subclaims¶

q2 i? Mean posttest–pretest gain for the 83 camp attendees was 11.75 percentage points, statistically significant at p < .05. → Bhattacharya et al. 2016

Evidence¶

Bhattacharya et al. 2016¶

Radha Bhattacharya, Andrew Gill, and Denise Stanley. (2016). The Effectiveness of Financial Literacy Instruction: The Role of Individual Development Accounts Participation and the Intensity of Instruction. Journal of Financial Counseling and Planning, Volume 27, Number 1, 2016, 20–35. https://doi.org/10.1891/1052-3073.27.1.20

q2 · i? · causal · r1

Pretest–posttest evaluation of a 1-week camp using a 44-question financial literacy test (KR-20 of 0.7 pretest, 0.9 posttest) with 83 students. The article reports the gain "is significantly different from zero (p , .05)"; no standardized effect size is printed.

"Table 2 shows the mean difference between posttest and pretest scores for the entire sample of students is 11.75 percentage points and this increase is significantly different from zero (p , .05)."

Discussion¶

Related Claims¶

• An additional 90 minutes of intensive instruction did not produce statistically significant gains in financial knowledge beyond the 11-hour camp — related
• Standardized Language Arts and Mathematics test scores, not GPA, predicted financial knowledge gains from the camp — related
• Parents with high present bias were less likely to enroll their 8th graders in the financial literacy camp — related
• Heckman two-step estimates found no evidence of selection bias in the pretest–posttest gain score regressions based on camp attendance — related
• IDA participation and contribution level showed no statistically significant effect on financial knowledge gains from camp instruction — related