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Comprehensive assessment shows financial knowledge impact in participants, suggesting enhancements for educators.
This article reports results of the first comprehensive study of MONEY 2000™ participants. The study obtained feedback and impact data from MONEY 2000™ program participants in New Jersey and New York. The sample of 520 MONEY 2000™ respondents had a higher income and educational level than average Americans. The two main reasons that participants enrolled in MONEY 2000™ were to reduce debt and to increase financial knowledge. The most helpful aspect of MONEY 2000™ was the quarterly newsletter, followed by tips/ideas/information, Extension publications, and workshops/classes/conferences. The least helpful aspect was none/nothing, followed by workshops/classes/conferences. Since enrolling in MONEY 2000™, three of every four respondents both increased their savings and decreased their debt and 80% indicated that MONEY 2000™ had an effect on their financial situation. The article also discusses 10 implications for Extension financial educators.
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O’Neill et al. (2000) studied this question.
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