Billy J. Hensley, Ph.D.

Financial education is an important area of study due in part to the need for improved understanding of how to navigate an ever more complex financial decision-making environment, thus the need for effective classroom instruction. This study examined a “teacher-as-learner” professional development program that is rooted in both professional development and adult education fields of study as means of providing financial education. This program educates teachers on their own personal finance… Show more

Financial education is an important area of study due in part to the need for improved understanding of how to navigate an ever more complex financial decision-making environment, thus the need for effective classroom instruction. This study examined a “teacher-as-learner” professional development program that is rooted in both professional development and adult education fields of study as means of providing financial education. This program educates teachers on their own personal finance, ultimately better preparing educators to teach financial literacy education. Results showed significant improvements in self-reported financial behaviors between pre- and posttests. Results suggest using contextual learning for teacher professional development because it benefits personal finances and successful teaching practices. Show less

This paper explores the preparation of educators to teach personal finance and professional development programs designed to build their financial education capacity. Teachers can’t teach personal finance well if they don’t understand it themselves and/or can’t engage their students. Unfortunately, there is evidence that many teachers lack content knowledge obtained through both formal and in-formal educational experiences. As various countries have adopted financial literacy mandates in the… Show more

This paper explores the preparation of educators to teach personal finance and professional development programs designed to build their financial education capacity. Teachers can’t teach personal finance well if they don’t understand it themselves and/or can’t engage their students. Unfortunately, there is evidence that many teachers lack content knowledge obtained through both formal and in-formal educational experiences. As various countries have adopted financial literacy mandates in the wake of the global financial crisis, interest has increased in providing quality teacher professional development experiences and documenting their impact. This paper begins with an introduction about general financial literacy challenges and growing interest in financial education, followed by a literature review about teacher financial education competency levels. Also included are studies of personal finance teacher training programs and their impact. The article then describes the content and format of two recent U.S. financial education professional development program models. Assessments of the impact of these financial education training programs are discussed including specific methods of measuring changes in teachers’ knowledge and confidence. The paper ends with recommendations about teacher training for policy and practice. Show less

A recent meta-analysis of the effect of financial literacy and financial education on downstream financial behaviors has shown a weak collective impact of the work of financial education. While the findings are not stellar, they do not support a dismantling of financial education programs and funding. This paper examines the findings of the meta-analysis and discusses the implications for the field. In this discussion, a more thoughtful consideration of the ways to provide financial education… Show more

A recent meta-analysis of the effect of financial literacy and financial education on downstream financial behaviors has shown a weak collective impact of the work of financial education. While the findings are not stellar, they do not support a dismantling of financial education programs and funding. This paper examines the findings of the meta-analysis and discusses the implications for the field. In this discussion, a more thoughtful consideration of the ways to provide financial education and the manner about how to influence behavior is highlighted. In addition, this article proposes a systematic examination of why timely educational approaches should coexist with longer-term financial education programming. The field also needs a more rigorous examination of factors that impact intervention effectiveness, including a call for improved research protocol and evaluation and a plea for greater visibility between researchers and practitioners. Show less

In September 2013, NEFE hosted an Education Forum, focusing on the findings of Dr. John G. Lynch's NEFE-funded research project, “A Meta-Analytic and Psychometric Investigation of the Effect of Financial Literacy on Downstream Financial Behaviors.” Following the presentation, a a facilitated discussion was held on the need for improved educational practices and research within school-based and adult financial education programs, and concluded with identifying a list of effective educational… Show more

In September 2013, NEFE hosted an Education Forum, focusing on the findings of Dr. John G. Lynch's NEFE-funded research project, “A Meta-Analytic and Psychometric Investigation of the Effect of Financial Literacy on Downstream Financial Behaviors.” Following the presentation, a a facilitated discussion was held on the need for improved educational practices and research within school-based and adult financial education programs, and concluded with identifying a list of effective educational approaches and strategies to disseminate to educators and financial education programs on ways to improve learning outcomes for students. Held in Washington, D.C., over 30 attendees participated, including practitioners, government representatives, academic researchers, and educators. - See more at: http://www.nefe.org/what-we-provide/primary-research/2013-education-forum.aspx#sthash.oJ8XEkGR.dpuf Show less

This report summarizes a three-year research study that focuses on a new model of teacher professional development: a learner-centric approach to building teachers’ confidence. Many teacher training programs concentrate on how one should teach a personal finance course or curriculum. However, this research project emphasizes the instruction of personal finance concepts, information, and behavior so that teachers have the tools and confidence to implement positive financial management in their… Show more

This report summarizes a three-year research study that focuses on a new model of teacher professional development: a learner-centric approach to building teachers’ confidence. Many teacher training programs concentrate on how one should teach a personal finance course or curriculum. However, this research project emphasizes the instruction of personal finance concepts, information, and behavior so that teachers have the tools and confidence to implement positive financial management in their own lives – and then to their own students in the classroom. Show less

This Salon, held March 5-6, 2013, at the University Club in Washington, D.C., was a continuation of an ongoing discussion that began with a NEFE-funded national research study that examined teachers’ preparedness to teach personal finance (www.nefe.org/tntfinalreport) which led to the development of the Jump$tart Teacher Training Alliance (J$TTA)—an initiative that implemented five content-focused in-service teacher professional development pilots across the country. The next step is to… Show more

This Salon, held March 5-6, 2013, at the University Club in Washington, D.C., was a continuation of an ongoing discussion that began with a NEFE-funded national research study that examined teachers’ preparedness to teach personal finance (www.nefe.org/tntfinalreport) which led to the development of the Jump$tart Teacher Training Alliance (J$TTA)—an initiative that implemented five content-focused in-service teacher professional development pilots across the country. The next step is to articulate a process for integrating financial education into pre-service teacher preparation.

This event focused on the needs, obstacles, and opportunities for integrating personal finance content into the education major at universities, including the steps necessary to include and/or pilot financial education into pre-service teacher preparation—especially in states that are adding the content to school-based standards in subject areas that have not traditionally taught personal finance (e.g. social studies and mathematics).

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The National Endowment for Financial Education® (NEFE), with planning assistance from the Consumer Financial Protection Bureau and other key stakeholders, hosted a forum discussing Diminished Capacity and its implications on personal financial decision making, Sept. 10-11, 2012 in Washington, D.C. The discussion, which began with a salon in September 2011, focused, in more detail, on the role of gaining a better understanding of what is needed in support systems and advance planning. The goal… Show more

The National Endowment for Financial Education® (NEFE), with planning assistance from the Consumer Financial Protection Bureau and other key stakeholders, hosted a forum discussing Diminished Capacity and its implications on personal financial decision making, Sept. 10-11, 2012 in Washington, D.C. The discussion, which began with a salon in September 2011, focused, in more detail, on the role of gaining a better understanding of what is needed in support systems and advance planning. The goal of the forum was to assess immediate needs and define a set of questions and concepts that will clarify areas for additional research and exploration. - See more at: http://www.nefe.org/what-we-provide/primary-research/diminished-capacity-financial-decision-making.aspx#sthash.zLnxdKVs.dpuf Show less

Abstract
This action inquiry article examines veteran teachers’ learning in a week-long professional development seminar. We describe moments of disconnection in key learning relationships (teacher, learner, text) and analyze relational–cultural dynamics that contributed to the disconnections. We investigate the dynamics that facilitate repair within the relationships. We argue that disconnections were often acts of resistance which preserve teachers’ sense of self as learner. We aver that… Show more

Abstract
This action inquiry article examines veteran teachers’ learning in a week-long professional development seminar. We describe moments of disconnection in key learning relationships (teacher, learner, text) and analyze relational–cultural dynamics that contributed to the disconnections. We investigate the dynamics that facilitate repair within the relationships. We argue that disconnections were often acts of resistance which preserve teachers’ sense of self as learner. We aver that moments of reconnection were acts of resilience. This study’s significance demonstrates the inherent links between resistance and resilience. Implications point to the centrality of taking an inquiry stance in the study of professional development experiences. Show less

In April 2011, NEFE invited thought leaders from academia, government and education fields to discuss the idea of Certification in Financial Education programs.

Conversations about certification within the financial education community are becoming more prevalent. This is in response to several factors relating to topics from the current financial state of many Americans to the ever increasing number of organizations offering financial literacy resources. Also, in consideration of the… Show more

In April 2011, NEFE invited thought leaders from academia, government and education fields to discuss the idea of Certification in Financial Education programs.

Conversations about certification within the financial education community are becoming more prevalent. This is in response to several factors relating to topics from the current financial state of many Americans to the ever increasing number of organizations offering financial literacy resources. Also, in consideration of the recent legislation creating the Consumer Financial Protection Bureau, the notion of certification—in regards to programs, tools, and individuals—is gaining even more attention. Since this idea is at the forefront of financial education, it is important to begin to frame a comprehensive deliberation on the matter. So, in order to fully develop our thinking about the topic of certification within the financial education realm, the National Endowment for Financial Education ® (NEFE®) hosted a forum that more fully examined the benefits, drawbacks, and potential outcomes of certification in financial education.
- See more at: http://www.nefe.org/what-we-provide/primary-research/2011-certification-forum.aspx#sthash.AjcDzXA6.dpuf Show less

Issues related to college access and the need for a pipeline of STEM teachers, provided the impetus for the Ohio Board of Regents (OBR) to issue a call for Ohio universities to design pre-college experiences for high school students with three major goals in mind: (a) improvement in mathematics, science, or foreign language learning; (b) increased attraction to careers as teachers of these subjects; and (c) increased familiarity and readiness for college admission to study these subjects… Show more

Issues related to college access and the need for a pipeline of STEM teachers, provided the impetus for the Ohio Board of Regents (OBR) to issue a call for Ohio universities to design pre-college experiences for high school students with three major goals in mind: (a) improvement in mathematics, science, or foreign language learning; (b) increased attraction to careers as teachers of these subjects; and (c) increased familiarity and readiness for college admission to study these subjects. Through funding provided by an OBR grant we designed and implemented a summer immersion program for high school juniors and seniors in order to meet the needs of this call. Students with self-reported interests in teaching mathematics or science spent two weeks on two environmentally different universities, Miami University and the University of Cincinnati, as a means to expose them to different campus climates while building a greater since of belonging, both culturally and academically. They also earned three PreCalculus credits through rigorous college-coursework. Within this manuscript we describe the program, report pre- and post-test data analyses, provide insights into students' perceptions of the college experience, and reflect on our own lessons learned. Show less

The authors examined the relationship between specific learning styles and stress and coping in a sample of female college students (N = 246). Participants in the study were assessed on the three variables by completing several self-report instruments measuring learning styles, life stress level, and coping skills. There were significant relationships between specific learning styles and stress level and between specific learning styles and coping skills. This study is intended to be… Show more

The authors examined the relationship between specific learning styles and stress and coping in a sample of female college students (N = 246). Participants in the study were assessed on the three variables by completing several self-report instruments measuring learning styles, life stress level, and coping skills. There were significant relationships between specific learning styles and stress level and between specific learning styles and coping skills. This study is intended to be foundational research developed with the intention of future in-depth study by other individuals. Implications and future directions for research are suggested. Show less

Financial education is an important area of study due in part to the need for improved understanding of how to navigate an ever more complex financial decision making environment, thus the need for effective classroom instruction. The purpose of this study is to examine a “teacher-as-learner” professional development program that is rooted in both professional development and adult education fields of study as means of providing financial education. This program educates teachers on their own… Show more

Financial education is an important area of study due in part to the need for improved understanding of how to navigate an ever more complex financial decision making environment, thus the need for effective classroom instruction. The purpose of this study is to examine a “teacher-as-learner” professional development program that is rooted in both professional development and adult education fields of study as means of providing financial education. This program educates teachers on their own personal finance, ultimately better preparing educators to teach financial literacy education. Results showed significant improvements in self-reported financial behaviors between pre- and post-tests. Results suggest using contextual learning for teacher professional development as it benefits personal finances and successful teaching practices. Show less