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Criteria for assessing adult financial management competency needs : a Delphi study
This descriptive study identified financial management competencies adults need to effectively manage their financial resources, determined the relative importance of the competencies, and defined their performance at ideal, adequate, and inadequate levels. Studies examining variables associated with varying levels of family economic well-being have focused on family system input-output relationships. The void in research examining family system throughput, family decisions and actions regarding when and how resources will be used, and output relationships appears to be associated with the absence of reliable measures of managerial throughput variables. The population included 114 nationally-recognized financial experts. The sample for Round I included 21 experts. Sixteen of the experts agreed to participate in Rounds II and III. Through the Delphi technique, competency and performance-level descriptors were solicited and refined. Extension professionals with statewide responsibilities in financial management education selected the experts, assessed content validity of the questionnaires, and analyzed expert responses to three rounds of the study. Round I identified 16 mutually-exclusive competencies. Round II yielded reliable performance-level descriptors for 13 of the 16 competencies, but expert comments resulted in significant editing of performance-level descriptor statements. The matching and ranking procedure was repeated in Round III. Final analysis was based on data from Round III. Competency mean rank scores changed very little between Round II and Round III. Significant differences in competency mean rank scores were determined by Tukey-Kramer multiple-comparison procedure. The three most important competencies were significantly higher in importance than the six lowest ranked competencies. The four mid-point ranked competencies were not significantly more or less important than other competencies. Descriptors were considered reliable if they were matched to a competency by at least 80 percent of the experts. All 16 of the competencies were reliably defined at one or more levels of performance, 12 at all three levels. Six reliably-defined descriptors' mean rank scores were different from the expected mean. Student's t test for one-sample conditions determined that observed and expected mean rank scores for two descriptors were significantly different at the .05 critical level.
SubjectFamily life education
Major adult and extension education
1985 Dissertation W585
Family life education
White, Lynn Bourland (1985). Criteria for assessing adult financial management competency needs : a Delphi study. Texas A&M University. Texas A&M University. Libraries. Available electronically from
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