|Abstract or Summary
- The purpose of this research was to determine the effectiveness
of a personal finance workshop as measured by a multiple choice
competency test. More specifically the objectives of the study
were: 1) to develop a valid instrument for measuring the participants'
learning as a result of a two and half day workshop on
personal finance, and 2) to use the scores on the competency test
to determine if learning occurred as a result of the workshop.
This experimental research used two research designs for
evaluating learning resulting from a workshop (treatment). The
two designs were the posttest-only control group, a true experiment,
and the one group pretest-posttest, a pre-experimental design.
Three instruments were used in data collection: an application
form, an attitude survey, and a multiple choice test. The
application form provided the demographic data for this research.
The attitude survey was administered to the experimental group as
a distractor. The third instrument was a competency test developed
by this researcher to measure the learning which resulted from the
workshop. The test included 30 questions covering five personal
finance concepts addressed at the workshop: 1) consumer decision
making, 2) investments, 3) laws and legislation, 4) life insurance
and 5) money management.
A one-tailed t-test was used to determine whether a difference
existed in the test scores between two groups. An F-ratio
was used to determine whether a difference existed when comparing
test scores of three or more groups. Nine null hypotheses
were tested with the rejection level set at .05. A difference
was found between participants' pretest scores due to previous
experience in teaching personal finance. There was also a difference
in the posttest scores of the participants who had taken the
pretest when compared with the scores of the participants who had
not taken the pretest. A significant increase in learning occurred
in the area of consumer laws and legislation attributed to the
Hypotheses not rejected at the .05 level included: 1) no
difference in posttest scores of the control group and the posttest
scores of the experimental group, 2) no difference in posttest
scores of the experimental group when compared with the
control group on the following concepts; decision making, money
management, investments, and life insurance, and 3) no difference
in pretest scores due to educational background of the participants.