Assessing the Reliability and Validity of the Jump$tart Survey of Financial Literacy Article DOI:
Cite this article as: Lucey, T. J Fam Econ Iss (2005) 26: 283. doi:10.1007/s10834-005-3526-8 Abstract
Financial education represents an area of popular interest, owing largely to the Jump$tart surveys of financial literacy. However, while the surveys represent indicators of financial knowledge among high school seniors, these measures have not been statistically validated. This article describes an assessment of the surveys’ reliability (internal consistency), and validity. It reports a moderately high degree of consistency overall, however, discloses low to moderate internal consistencies among subscales. It also finds significant response differences to one quarter of comparable items between surveys. The researcher observes challenges to affirming the surveys’ validity and offers statistics suggesting social bias among survey items. He calls for further research into measures of financial literacy.
KEY WORDS assessment financial education Jump$tart Coalition social bias validity
The author appreciates the guidance and support of Dr. Duane Giannangelo, Dr. Jean Steiz, Dr. Lou Franceschini, and Dr. Steven Ross.
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