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Wiley InterScience

Journal of Consumer Affairs

Journal of Consumer Affairs

Volume 42 Issue 1, Pages 106 - 112

Published Online: 22 Feb 2008

Copyright 2009 by The American Council on Consumer Interests



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Potential and Pitfalls of Applying Theory to the Practice of Financial Education
ANGELA C. LYONS 1 URVI NEELAKANTAN 2
  1 Angela C. Lyons is an associate professor in the Department of Agricultural and Consumer Economics, University of Illinois at Urbana–Champaign, Urbana, IL (anglyons@uiuc.edu).  2Urvi Neelakantan is an assistant professor in the Department of Agricultural and Consumer Economics, University of Illinois at Urbana–Champaign, Urbana, IL (urvi@uiuc.edu).
Copyright 2008 by The American Council on Consumer Interests

ABSTRACT

Researchers are increasingly using interdisciplinary theory to bring rigor to the practice of financial education. Practitioners often do not see the value of the theory because it does not coincide with their observations of how people behave, and researchers do not yet have enough experience with interdisciplinary theory to demonstrate its usefulness to practitioners. If carefully applied, theory can be used to set appropriate financial goals and to positively change consumers' financial behaviors. Better communication can bridge the gap between theory and practice to the benefit of the consumer.


Received: 13 December 2007; Accepted: 21 February 2008;
DIGITAL OBJECT IDENTIFIER (DOI)
10.1111/j.1745-6606.2007.00097.x About DOI

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