Evaluating a Financial Education Curriculum as an Intervention to Improve Financial Behaviors and Financial Well‐Being of Survivors of Domestic Violence: Results from a Longitudinal Randomized Controlled Study

Abstract

The Allstate Foundation and the National Network to End Domestic Violence created a financial education curriculum to improve individual financial management skills and, ultimately, to improve domestic violence survivors' financial well‐being. This study, guided by the reasoned action approach, evaluates their curriculum using a longitudinal randomized control study, with data collected over four time periods spanning 14 months. The analyses demonstrated that the treatment group had an average improvement between a half point to over a full point on self‐reported financial knowledge, financial intentions, and financial behavior and a decrease in financial strain. Moreover, the impact of the curriculum persisted over time. The notable and lasting impact of participation in the curriculum for this study sample has critical implications for other agencies serving domestic violence survivors as well as other programs aimed at improving financial well‐being among their clientele.

Sustainable Financial Education and Consumer Life Satisfaction

“…Moreover, the objective measure is the resource input in financial education, such as time and money. Using the sampling data of survivors of domestic violence, Postmus et al [49] indicated that survivors of domestic violence improved their personal financial management skills through training courses of financial education, and ultimately, improved their own life satisfaction. There is also evidence that some social workers had their living costs increased due to the global recession, and their real incomes had declined [50].…”

Creating Financial Capability in the Next Generation: An Introduction to the Special Issue

“…Finally, in their study, “Evaluating a Financial Education Curriculum as an Intervention to Improve Financial Behaviors and Financial Well‐Being of Survivors of Domestic Violence: Results from a Longitudinal Randomized Controlled Study,” Postmus, Hetling, and Hoge () address financial capability in a specific vulnerable population. Their evaluation of a financial education curriculum for survivors of domestic violence finds improvements in financial knowledge, financial intentions, and financial behavior as well as a reduction in financial strain.…”

Employees’ financial insecurity and health: The underlying role of stress and work–family conflict appraisals

“…An intervention of this type would rely theoretically on COR and focus on protecting or minimizing the loss of financial resources. A recent study demonstrated that an intervention to reduce financial insecurity through learning basic fundamentals of personal finance can be successful (Postmus, Hetling, & Hoge, ). Providing training to victims of domestic violence, Postmus et al .…”

“…Providing training to victims of domestic violence, Postmus et al . () focused on several components: mastering credit basics, building financial foundations, and creating budget strategies. Authors showed success through improvements over time of financial knowledge, intentions to perform financial behaviours, and the participants’ actual financial behaviours.…”