Valuing the Implementation of Financial Literacy Education

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Authors

  • Kimberlee Davis
  • Dorothy C. Bagwell Durband

Published 2008, "Valuing the Implementation of Financial Literacy Education", Journal of Financial Planning and Counselling, 2008- Volume 19

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. Key Words: contingent valuation, financial education, financial literacy
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