A Longitudinal Evaluation of the Intermediate-term Impact of the Money Smart Financial Education Curriculum upon Consumers’ Behavior and Confidence - April 2007:

This study analyzes the impact of the FDIC’s Money Smart financial education curriculum and training on the financial opinions and behaviors of course participants. The study collected data from 631 adult respondents who experienced some portion of the Money Smart program during 2004-2005 and also completed a pre-training survey, post-training survey, and telephone follow-up survey. The data indicate that Money Smart financial education training positively affected consumer behaviors as measured through self-reported responses to survey questions 6-12 months after completing the training. Among the significant findings were that participants were more likely to open bank accounts, save money in a mainstream deposit product, use and adhere to a budget, and have increased confidence in their financial abilities when contacted six to twelve months after completing the Money Smart course than they were before taking the course.