Is the dosed video-vignettes intervention more effective with a longer-lasting effect? A financial literacy Study.

Abstract

An analysis comparing short and long periods of video vignettes intervention and a follow-up evaluation has been applied to measure the compared impact and the durability of this kind of visual tools in the financial literacy (FL) levels of the participants. The participants have been involved in a story reacting with the question-answer related to the house, car, and pension plan choosing as the key financial decisions (KFD). The four video vignettes build on video animated response-based simulations, in a case format, contain 20 questions about knowledge, self-efficacy, and confidence dimensions; all of them, as a feedback system to measure Its impact on a randomized sample of university students. Their FL score ex-ante vs. ex-post with a tested FL scale was analyzed to conclude the FL effect is higher and positive in the four-weeks session (long intervention) vs. one-week course (short intervention). The same trend was observed within the follow-up evaluation applied six months after the durability confirmed. A parametric and non-parametric test confirms these results. The findings and its effects on public policy and the Implications for future research must be discussed.