Valuing the Implementation of Financial Literacy Education

11 Pages Posted: 5 Mar 2013

See all articles by Kimberlee Davis

Kimberlee Davis

Texas State University, San Marcos - Family and Consumer Sciences

Dorothy Durband

Texas Tech University - Department of Personal Financial Planning

Date Written: 2008

Abstract

Placing a monetary value on education is a complex task. A more difficult task is to determine at what monetary level individuals will support educational improvements. The contingent valuation method was used to estimate the value of the implementation of financial literacy education in Texas public schools. A Web-based survey was administered to 279 Texas Parent Teacher Association (PTA) members. Respondents reported being willing to pay additional property taxes for implementation of financial literacy education. Additional gambling venues and state sales tax proved to be acceptable revenue sources for added educational funding, whereas a state income tax proved to be the least preferred revenue source.

Keywords: contingent valuation, financial education, financial literacy

Suggested Citation

Davis, Kimberlee and Durband, Dorothy, Valuing the Implementation of Financial Literacy Education (2008). Journal of Financial Counseling and Planning, Vol. 19, No. 1, 2008. Available at SSRN: https://ssrn.com/abstract=2228326

Kimberlee Davis (Contact Author)

Texas State University, San Marcos - Family and Consumer Sciences ( email )

601 University Drive
San Marcos, TX 78666-4616
United States

Dorothy Durband

Texas Tech University - Department of Personal Financial Planning ( email )

United States

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