University of Arkansas: Enhancing Student Financial Wellness By Imbedding Money Habitudes Into the Classroom

The University of Arkansas has pioneered a classroom based approach to improving student financial wellness. Faculty members Dr. Agnes Yeboah Amfo-Adu and her colleagues recognized that financial stress significantly hinders student focus and academic success. In response, they implemented the Money Habitudes II activity into coursework across two disciplines to help students reflect on their money behaviors, boost confidence, and promote lasting behavioral change.

Outcomes

• Students showed significant growth in financial confidence. Their ability to handle unexpected expenses rose from a mean of 2.60 to 3.11, and enjoyment of life through better money management increased from 3.10 to 3.34.
• They reported improved budgeting skills, with scores for maintaining a weekly or monthly budget rising from 2.95 to 3.74. Students also became better at controlling overspending, rising from 3.47 to 3.84.
• Understanding of emergency preparedness soared, with awareness of the importance of an emergency fund increasing from 2.82 to 4.58.
• Over 90% of participants indicated that the Money Habitudes activity revealed new insights into their financial habits, supporting its effectiveness as a scalable, low cost classroom tool.

How They Use Money Habitudes

• The Money Habitudes II activity was embedded directly into class assignments during the Fall 2024 semester. Students engaged with the 54 card deck either online or in-person as part of reflective, experiential learning within the curriculum.
• Surveys administered before and after the activity measured changes in behavior and attitudes. Results showed increased self awareness, budgeting, and stress-management skills, highlighting the importance of financial literacy for academic and emotional well being.
• The study reinforces that financial literacy doesn’t need to be complex or costly to be effective, it can be seamlessly integrated into any discipline to support student success and retention.

Links

University of Arkansas – Advancing Student Learning and Success By Imbedding Financial Wellness Into the Classroom