Online Investment Education: Listening to Learners to Develop an Effective Financial Literacy Program for Farm Households

18 Pages Posted: 22 Feb 2013

See all articles by Barbara O'Neill

Barbara O'Neill

Rutgers University - Rutgers Cooperative Extension

Nancy Porter

Clemson Cooperative Extension

Debra Pankow

North Dakota State University Extension

Jane Schuchardt

National Institute of Food and Agriculture

Jason Johnson

Texas AgriLife Extension Service

Abstract

A needs assessment was conducted for the adaptation of an existing online Cooperative Extension investment course for use by farm households. The theoretical model was Social Marketing Theory. Data about financial attitudes, practices, and learning preferences of farm households were collected through a telephone survey of 300 farm households and two focus groups. Quantitative and qualitative data confirmed that farmers prefer investing in land and farm-related assets instead of securities. Further, an increasing number of farm family members engaged in paid employment, which provided access to employee benefits. Many farmers did not plan to retire in later life but indicated a desire to scale back their work hours and/or reduce the size of their farm business. Women in the sample were more engaged with the Internet than men and less likely to dislike using computers.

Keywords: farm households, farmers, financial literacy, investing, retirement planning

Suggested Citation

O'Neill, Barbara and Porter, Nancy and Pankow, Debra and Schuchardt, Jane and Johnson, Jason, Online Investment Education: Listening to Learners to Develop an Effective Financial Literacy Program for Farm Households. Journal of Financial Counseling and Planning, Vol. 21, No. 1, 2010, Available at SSRN: https://ssrn.com/abstract=2222086

Barbara O'Neill (Contact Author)

Rutgers University - Rutgers Cooperative Extension ( email )

55 Dudley Road
New Brunswick, NJ 0801-8520
United States

Nancy Porter

Clemson Cooperative Extension ( email )

101 Sikes Ave
Clemson, SC 29634
United States

Debra Pankow

North Dakota State University Extension ( email )

Fargo, ND 58105
United States

Jane Schuchardt

National Institute of Food and Agriculture ( email )

1301 New York Ave. NW
Washington, DC 20250
United States

Jason Johnson

Texas AgriLife Extension Service ( email )

600 John Kimbrough Boulevard
Suite 509
Stephenville, TX 77843
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
30
Abstract Views
399
PlumX Metrics