Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt
Borrowing behavior may be more resistant to formal educational treatments than other financial behaviors. In order to study the process and results of infographics-based debt education, we used eye tracking technology (SMI RED 500 Hz) to monitor the oculomotor behavior of 108 participants (68 female...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2021-03-01
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| Series: | Frontiers in Psychology |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fpsyg.2021.621312/full |
| _version_ | 1818678059732041728 |
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| author | Robert Porzak Andrzej Cwynar Wiktor Cwynar |
| author_facet | Robert Porzak Andrzej Cwynar Wiktor Cwynar |
| author_sort | Robert Porzak |
| collection | DOAJ |
| description | Borrowing behavior may be more resistant to formal educational treatments than other financial behaviors. In order to study the process and results of infographics-based debt education, we used eye tracking technology (SMI RED 500 Hz) to monitor the oculomotor behavior of 108 participants (68 females) aged 18 to 60 who were shown 4 infographics. The study used an experimental design with repeated measures and an internal comparison group. We also used scales of debt literacy and a set of information literacy scales: numerical, graph, and linguistic. The results confirm that short-term infographics-based debt education can improve debt literacy significantly. The difference in processing the educational contents that were not known to participants before the educational session suggests that participants with better information literacy make more considerable debt literacy progress. Specifically, we found that numerical literacy is a significant mediator of debt education results, depending on the initial level of debt literacy; this relation is moderated by the focus of visual attention on negatives of debt. We found no significant relationship between debt literacy education results and those of graph and linguistic literacy. |
| first_indexed | 2024-12-17T09:09:15Z |
| format | Article |
| id | doaj.art-1d69c18f9c894f4d9740c9592f4c6fce |
| institution | Directory Open Access Journal |
| issn | 1664-1078 |
| language | English |
| last_indexed | 2024-12-17T09:09:15Z |
| publishDate | 2021-03-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Psychology |
| spelling | doaj.art-1d69c18f9c894f4d9740c9592f4c6fce2022-12-21T21:55:19ZengFrontiers Media S.A.Frontiers in Psychology1664-10782021-03-011210.3389/fpsyg.2021.621312621312Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of DebtRobert Porzak0Andrzej Cwynar1Wiktor Cwynar2Experimental Psychology Lab, Faculty of Human Sciences, University of Economics and Innovation, Lublin, PolandInstitute of Public Administration and Business, University of Economics and Innovation, Lublin, PolandInstitute of Public Administration and Business, University of Economics and Innovation, Lublin, PolandBorrowing behavior may be more resistant to formal educational treatments than other financial behaviors. In order to study the process and results of infographics-based debt education, we used eye tracking technology (SMI RED 500 Hz) to monitor the oculomotor behavior of 108 participants (68 females) aged 18 to 60 who were shown 4 infographics. The study used an experimental design with repeated measures and an internal comparison group. We also used scales of debt literacy and a set of information literacy scales: numerical, graph, and linguistic. The results confirm that short-term infographics-based debt education can improve debt literacy significantly. The difference in processing the educational contents that were not known to participants before the educational session suggests that participants with better information literacy make more considerable debt literacy progress. Specifically, we found that numerical literacy is a significant mediator of debt education results, depending on the initial level of debt literacy; this relation is moderated by the focus of visual attention on negatives of debt. We found no significant relationship between debt literacy education results and those of graph and linguistic literacy.https://www.frontiersin.org/articles/10.3389/fpsyg.2021.621312/fulldebt educationvisual attentionnumeracygraph literacylinguistic literacyfocus on debt positives and negatives |
| spellingShingle | Robert Porzak Andrzej Cwynar Wiktor Cwynar Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt Frontiers in Psychology debt education visual attention numeracy graph literacy linguistic literacy focus on debt positives and negatives |
| title | Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt |
| title_full | Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt |
| title_fullStr | Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt |
| title_full_unstemmed | Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt |
| title_short | Improving Debt Literacy by 2/3 Through Four Simple Infographics Requires Numeracy and Not Focusing on Negatives of Debt |
| title_sort | improving debt literacy by 2 3 through four simple infographics requires numeracy and not focusing on negatives of debt |
| topic | debt education visual attention numeracy graph literacy linguistic literacy focus on debt positives and negatives |
| url | https://www.frontiersin.org/articles/10.3389/fpsyg.2021.621312/full |
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