Abstract
The understanding of financial literacy as a twenty-first century skill often goes back to financial knowledge. From the perspective of teaching–learning research, such a one-dimensional concept cannot be sufficient. Financial decision-making results from an interaction between financial demands and an individual’s cognitive and non-cognitive prerequisites. For evaluating the effectiveness of personal finance programmes, valid instruments for assessing relevant variables, like attitudes towards money, must be in place. The target group of the project is young adults within the German Dual vocational training system and Bachelor students. They have in common the need to cope with personal autonomy including the responsible use of their own money. In a broader study, the attitudes towards money of young German adults are analysed. For this purpose, a scale developed by Barry (2014) was used.
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Notes
- 1.
Standing Conference of Ministers of Education and Cultural Affairs of the Länder in the Federal Republic of Germany.
- 2.
272 questionnaires could be used for the analysis for reasons of completeness.
- 3.
One assumption for the testing of the model fit is the multivariate normal distribution. This assumption is not complied. I therefore used the MLR estimator for the CFA. According to Muthén und Muthén (1998–2010) this estimator is robust against the contravention of the assumption of normal distribution.
On the basis of the MLR estimator the χ 2-value cannot be used for the χ 2-difference test. The χ 2-value needs to be corrected by a Satorra and Bentler correction (Christ and Schlüter 2012).
- 4.
A curriculum analysis shows a broad view on financial topics that are taught in different courses and trainings in these financial domains. In the curriculum of the technical domains no or just a few financial aspects are mentioned (see Barry 2014).
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Barry, D. (2016). Measurement of Young Adults’ Attitudes Towards Money. In: Aprea, C., et al. International Handbook of Financial Literacy. Springer, Singapore. https://doi.org/10.1007/978-981-10-0360-8_30
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