Skip to main content

A Design-Based Intervention Approach to the Development of a Financial Literacy Interactive Learning Journey for Youths in Singapore

  • Chapter
  • First Online:
International Handbook of Financial Literacy

Abstract

As the cost of financial illiteracy is becoming increasingly high for society, the pressing need for educators is to explore and develop effective ways of teaching financial literacy that are scalable and sustainable. In this chapter, the authors document the collaboration between the Citi-NIE Financial Literacy Hub for Teachers and Republic Polytechnic in developing a financial literacy interactive learning journey for secondary school students between the ages of 13 and 16 in Singapore. By adopting a design-based intervention approach, progressive refinements were applied to the development of the interactive journey as a platform to inculcate financial literacy. The development process and the findings are reported for further refinement and implementation.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 189.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 249.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 249.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Babbie, E. (1995). The practice of social research (7th ed.). Belmont, CA: Wadsworth.

    Google Scholar 

  • Bandura, A. (1993). Perceived self-efficacy in cognitive development and functioning. Educational Psychologist, 28(2), 117–148.

    Article  Google Scholar 

  • Chen, H., & Volpe, R. P. (1998). An analysis of personal financial literacy among college students. Financial Services Review, 7(2), 107–128.

    Article  Google Scholar 

  • Collins, A. (1999). The changing infrastructure of education research. In A. Lagemann & L. Shulman (Eds.), Issues in education research. San Francisco: Jossey-Bass.

    Google Scholar 

  • Collins, A., Joseph, D., & Bielaczyc, K. (2004). Design research: theoretical and methodological issues. The Journal of the Learning Sciences, 13(1), 15–42.

    Article  Google Scholar 

  • Davis, L. (1992). Instrument review: Getting the most from your panel of experts. Applied Nursing Research, 5, 194–197.

    Article  Google Scholar 

  • Engeström, Y., Miettinen, R., & Punamäki, R. (1999). Perspectives on activity theory. Cambridge: Cambridge Press.

    Book  Google Scholar 

  • Ford, J. K., MacCallum, R. C., & Tait, M. (1986). The application of exploratory factor analysis in applied psychology: A critical review and analysis. Personnel Psychology, 39, 291–314.

    Article  Google Scholar 

  • Griffith, L. M. (2012). Bourdieu’s game of life: using simulation to facilitate understanding of complex theories. College Teaching, 60, 147–153.

    Article  Google Scholar 

  • Grounlund, N. E. (2003). Assessment of student achievement. Boston, MA: Publishers’ Design and Production Services, Inc.

    Google Scholar 

  • Hinkin, T. R. (1998). A brief tutorial on the development of measures for use in survey questionnaires. Organizational Research Methods, 1(1), 104–121.

    Article  Google Scholar 

  • Huston, S. J. (2009, October). The Concept and Measurement of FInancial Literacy: Preliminary Results from a New Survey on Financial Literacy Assessment. Conference Presentation, Academy of FInancial Services Annual Conference, Anaheim, CA.

    Google Scholar 

  • Huston, S. (2010). Measuring financial literacy. The Journal of Consumer Affairs, 44(2).

    Google Scholar 

  • Johnson, E., & Sherraden, M. S. (2007). From financial literacy to financial capability among young. Journal of Sociology & Social Welfare, Sep 1, 2007.

    Google Scholar 

  • Koh, N. K. (2005, January). Positioning financial literacy in Singapore schools. Paper presented at Pacific Circle Consortium, Sydney, Australia

    Google Scholar 

  • Maloney, P. J. (2010). Financial literacy: A practitioner’s update on the status of integration in school curricula. Journal of Personal Finance, 9, 11–29.

    Google Scholar 

  • Mandell, L. (2008). Financial knowledge on high school seniors. In Jing J. Xiao (Ed.), Advances in consumer finance research (pp. 170–171). New York: Springer Publishing.

    Google Scholar 

  • Mandell, L. (2009). Financial education in high school. In Annamaria Lusardi (Ed.), Overcoming the saving slump: How to increase the effectiveness of financial education and savings programs (pp. 257–279). Chicago: The University of Chicago Press.

    Chapter  Google Scholar 

  • MoneySENSE Financial Steering Committee. (2005). Quantitative Research on Financial Literacy Levels in Singapore. Retrieved on October 20, 2011 from Monetary Authority of Singapore website: http://www.mas.gov.sg/resource/news_room/press_releases/2005/Financial%20Literacy%20Levels%20in%20Singapore,%20Full%20Report.pdf

  • OECD Report on PISA 2012 Financial Literacy Framework. (2013). PISA 2012 assessment and analytical framework, OECD 2013, pp. 139–164.

    Google Scholar 

  • Pang, M. F. (2008). Using the learning study grounded on the variation theory to improve students’ mathematical understanding. Paper presented at Topic Study Ground 37, ICME11 at Monterrey, Mexico, July 6–13, 2008.

    Google Scholar 

  • Pathak, P., Holmes, J., & Zimmerman, J. (2011). Accelerating financial capability among youth. Retrieved on February 14, 2015 from New America Foundation website: http://www.newamerica.net/sites/newamerica.net/files/policydocs/AcceleratingFinancialCapabilityamongYouth.pdf

  • Price, J. L., & Mueller, C. W. (1986). Handbook of organizational measurement. Marshfield, MA: Pitman.

    Google Scholar 

  • Reeves, T. C. (2006). Design research from the technology perspective. In J. V. Akker, K. Gravemeijer, S. McKenney, & N. Nieveen (Eds.), Educational design research (pp. 86–109). London: Routledge.

    Google Scholar 

  • Remund, D. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(Summer), 276–295.

    Article  Google Scholar 

  • Rosacker, K. M., Ragothaman, S., & Gillispie, M. (2009a). Financial literacy of freshmen business school students. College Student Journal, 43(2), 391–399.

    Google Scholar 

  • Rosacker, K. M., Ragothaman, S., & Gillispie, M. (2009b). Financial literacy of freshmen business school students. College Student Journal, 43(2), 391–399.

    Google Scholar 

  • Rubio, D. M., Berg-Weger, M., Tebb, S. S., Lee, E. S., & Rauch, S. (2003). Objectifying content validity: Conducting a content validity study in social work research. Social Work Research, 27(2), 94–104.

    Article  Google Scholar 

  • St. Louis, K. O., Lubker, B. B., Yaruss, J. S., & Aliveto, E. F. (2009). Development of a prototype questionnaire to survey public attitudes toward stuttering: Reliability of the second prototype. Contemporary Issues in Communication Science and Disorders, 36(Fall), 101–107.

    Google Scholar 

  • The Business Times. (2014). Retrieved February 12, 2015 from The Business Times website: http://www.businesstimes.com.sg/consumer/more-debtors-seek-help-from-credit-counselling-singapore

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2016 Springer Science+Business Media Singapore

About this chapter

Cite this chapter

Siu, E.Y.N., Koh, N.K. (2016). A Design-Based Intervention Approach to the Development of a Financial Literacy Interactive Learning Journey for Youths in Singapore. In: Aprea, C., et al. International Handbook of Financial Literacy. Springer, Singapore. https://doi.org/10.1007/978-981-10-0360-8_36

Download citation

  • DOI: https://doi.org/10.1007/978-981-10-0360-8_36

  • Published:

  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-10-0358-5

  • Online ISBN: 978-981-10-0360-8

  • eBook Packages: Social SciencesSocial Sciences (R0)

Publish with us

Policies and ethics