Written By: Michael G. Kothakota and D. Elizabeth Kiss
This study examined the use of data visualization to improve financial literacy in adults. Using financial knowledge questions as test items this study used an experimental approach. Poisson regression was conducted on responses from 1,797 participants to an online survey via Survey Monkey™. Approximately one-third of respondents were assigned to a text-only group explaining a financial concept, one-third to a group that received a visualization plus text explanation of the concept, and one-third to a control group with no intervention. The findings suggest visualization of data assist in assimilation of financial knowledge compared to no intervention and to text interventions. The study has implications for financial education programs attempting to implement interventions in order to improve financial knowledge.