The effect of financial education on pupils’ financial knowledge and skills: Evidence from a Solomon four-group design

Abstract

The present study used a Solomon four-group quasi-experimental design to examine the short-term effect of a large-scale national financial education program on children's knowledge and skills in responsible spending and performing transactions effectively. Our study included a representative sample of Dutch pupils in the fifth grade of primary school (N ¼ 2,650). Controlling for different children-specific characteristics, results showed that the program increased pupils' knowledge and skills scores in performing transactions effectively, but not in responsible spending. The insights gained from the present study show how financial education programs that enable children to immediately apply what they learn in practice can improve children's knowledge and skills regarding certain financial competencies.

Formation of Financial Literacy in Primary School Students

“…The problem of financial literacy of children and youth has been the subject of numerous studies. It has been the object of scientific research by Andriichuk (2021), Potrich, Vieira and Mendes-Da-Silva (2016), Vieira, Moreira Júnior and Potrich (2020), Bongini, Colombo and Iwanicz-Drozdowska (2015), Knehans-Olejnik (2014), Swiecka (2018), Dare et al (2020) and others. The relevance of financial education, its economic and social significance have been revealed in the studies by De Beckker, De Witte and Van Campenhout (2020), González Castro, Enríquez-Diaz and García, (2021), Sánchez Santos (2020) and others.…”

“…Along those lines, Kalwij et al (2019) reflected the results of an experiment on the impact of a 45-minute financial education program on children's financial literacy and savings behaviour in Dutch primary schools. Dare et al (2020) has also focused on the impact of a large-scale national financial education program on the knowledge and skills of primary school students about responsible spending and effective implementation transactions. Teaching methodology has been explored in a study by Amagir et al (2018), who considered "learning by doing" to be a promising method of teaching financial literacy to children and adolescents in primary and secondary school.…”

Do Impulsivity and Education Moderate the Effectiveness of Police Sexual Assault Investigations Training? Findings From a Solomon Four-Group Quasi-Experiment

“…Researchers have argued that when evaluating the effects of an intervention using survey data, Solomon four-group designs are the most rigorous option for both true randomized and quasi-experimental studies (McGahee & Tingen, 2009). Quasi-experimental Solomon four-group designs are commonly used by medical (Aschen, 1997) and educational (Dare et al, 2020) researchers to assess pretesting effects when randomization of study participants into treatment and control groups is not possible. Following recommendations from prior work (Aschen, 1997; McGahee & Tingen, 2009; Swenson-Britt et al, 2000), we created four groups to model the effects of training, impulsivity, and education on (a) rape myth acceptance and (b) knowledge of victim reporting behaviors.…”

Examining the influence of item exposure and retrieval practice effects on test performance in a large‐scale workforce development training programme

“…This line of research treated testing before or during instruction as a confounding variable that should be controlled for (Roediger & Karpicke, 2006b). This led to the use of the Solomon four-group design to tease out the effects of pretesting (Dare et al, 2020). This research design administered the pretest to only half of the control and treatment groups.…”