NCJ Number
218497
Journal
Journal of Correctional Education Volume: 58 Issue: 1 Dated: March 2007 Pages: 43-56
Date Published
March 2007
Length
14 pages
Annotation
This article presents the development of course on personal money management for correctional populations and reports on preliminary outcome data.
Abstract
Posttest results indicated a moderate improvement in financial knowledge among participants. Pretest financial knowledge, which was measured prior to the beginning of the course, was 66 percent while posttest financial knowledge following completion of the course rose to 74 percent. Scores improved the most in the areas of credit cards, insurance, and retirement. However, participant knowledge dropped slightly on the budgeting questions and participants showed only marginal improvement in the areas of savings and housing. The author began by conducting a literature review of existing money management curriculum. Course materials were pulled from different curriculum programs and Web sites offering financial lesson plans. Course curriculum focused on budgeting, credit, credit cards, consumer privacy, saving and investing, buying a home, renting, insurance, cars, interest, payroll, and trouble. Seventeen inmates at a medium-security facility volunteered to participate in the course. A pretest and posttest were administered to provide information about program effectiveness. Data were analyzed using Microsoft Excel spreadsheets. Data were also used to create tables and queries using Microsoft Access. Future research will use the information gathered in this evaluation to revise the curriculum for the financial literacy course for correctional populations. References, appendixes, tables