Microsoft Word Ed Horwitz Post Dissertation Fina docx

 Conclusion 
Positive and significant increases in financial literacy scores were observed for 
participants in the education program. However, the smaller effect size of these results does limit 
the broad applicability of these findings. No association was found between the number of 
classes attended and increased financial literacy score among participants, potentially due to a 
lack of variability in this measure.  
Based on the use of pre and post testing, control groups, consistency of program delivery, 
and the longitudinal timing of multiple groups, these results indicate clear support for the 
positive effects of participating in the financial education program on improving financial 
literacy. With this methodology, this work represents a well-designed investigation of the 

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effectiveness of financial education, providing a clear contribution to the body of literature. 
However, even though more rigorous quasi-experimental research methods were employed to 
isolate as much of the effects of the financial education program on the participants as possible, 
it does not eliminate all possible non-programmatic alternative interpretations (Posavac, 2011).  
The methodology and results of this study should provide a meaningful contribution to the body 
of research in the field of financial education and literacy.
  
A higher level of financial literacy is needed to handle the growing number and 
complexity of financial decisions Americans will face. The study has provided evidence that 
participation in a comprehensive financial education program, which covers key financial 
components, can significantly improve financial literacy. The facilitation and delivery of the 
comprehensive financial education program utilized a constructivist view of adult learning 
theory and included weekly modules designed to evoke reflective consideration of new 
knowledge. Employees highly value and prefer to receive financial education at the workplace 
(Bernheim and Garrett, 2003). The use of a worksite comprehensive financial education program 
by employers can provide much needed and valued benefit to employees, which in turn has been 
shown to make them more productive and happier at their work (Joo, 1998; Joo & Garman, 
1998).  
However, due to the time commitment required to deliver a worksite comprehensive 
financial education programs, it is expected that employers would seek proof of the program’s 
effectiveness. The results of this research can be used to provide empirical support for 
comprehensive financial education programs developed and delivered using the tools and 
techniques described in the study. It is the desire of this research to provide a path, both 

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academically and professionally, towards addressing the low levels of financial literacy that are 
pervasive in our society today. 
 

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