Shockey, 2004(1), Moving into Action: Application of the Transtheoretical Model of Behavior Change to Financial Education

Financial
Counseling and Planning

The Journal of the
Association for Financial
Counseling and
Planning Education


VolumeĀ  15(1),
2004

Moving into Action: Application
of the Transtheoretical Model of Behavior Change to Financial Education


Susan S. Shockey and Sharon B. Seiling

    The Transtheoretical
    Model of Behavior Change was used to access change in financial
    behavior over a four-week period among participants enrolled in an IDA
    financial education program. All six money management behavior scores
    improved on average. The largest change occurred in the behavior
    represented as classes, while they were in the stage of Preparation for
    all other behaviors. Participants who advanced at least one stage are
    expected to double their chances of taking action on their new
    behavior.

    Keywords: Financial education, Behavioral change, Transtheoretical model