Helping Undergraduates Discover the Value of a Dollar Through Self-Monitoring

American Journal of Business Education, Vol. 3, No. 7, 2010

6 Pages Posted: 27 Nov 2015

See all articles by Lance Palmer

Lance Palmer

University of Georgia

Donna Bliss

University of Wyoming

Joseph W. Goetz

University of Georgia

Diann Moorman

University of Georgia

Date Written: December 16, 2012

Abstract

Many college undergraduates lack basic financial management knowledge and skills while bearing ever increasing debt burdens upon graduation. In order to encourage students to become aware of their spending patterns and weigh those patterns against personal values, a self-monitoring project was implemented as a class activity. The resulting effect on financial behavior was examined. Analysis of participants’ self-reflection papers revealed that awareness of spending behaviors increased universally among participants, and a significant proportion of students spontaneously modified spending behaviors to more closely conform to personal values. Participants consistently reported the importance of a spending management tool in modifying spending behavior.

Keywords: financial education, student finance, financial management, financial behavior modification

JEL Classification: P46, D1

Suggested Citation

Palmer, Lance and Bliss, Donna and Goetz, Joseph W. and Moorman, Diann, Helping Undergraduates Discover the Value of a Dollar Through Self-Monitoring (December 16, 2012). American Journal of Business Education, Vol. 3, No. 7, 2010. Available at SSRN: https://ssrn.com/abstract=2695743

Lance Palmer (Contact Author)

University of Georgia ( email )

United States

Donna Bliss

University of Wyoming ( email )

Box 3434 University Station
Laramie, WY 82070
United States

Joseph W. Goetz

University of Georgia ( email )

Athens, GA 30602-6254
United States

Diann Moorman

University of Georgia ( email )

Athens, GA 30602-6254
United States

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