The Evaluation Framework
The evaluation process will include both the impact (summative) and the process (formative) measures. The developmental evaluation process will be used for the effectiveness of the evaluation process. The primary purpose of using formative evaluation will be to enable the collection, analysis, and dissemination of data to allow the evaluators to stay on track. Summative assessment will aim to address the entire evaluation implementation process and the consequent effects concerning a change of behavior among military soldiers about the acquisition of financial knowledge.Younger members of the military personnel, as well as the civilian-military members, will be included in the evaluation plan. The evaluation plan will also try to analyze short-term and long-term financial behavior among U.S. army soldiers. Besides, high and low-income earners will also be included in this survey. The overall evaluation plan will seek to evaluate the role of financial education and financial literacy among U.S. army soldiers and the way they manage their finances. Research has found out that skills in financial management and well-being of the U.S. military soldiers are positively affected by knowing financial management.
Data to Be Collected
This survey will collect data on both short-term and long-term effects of financial management skills among U.S. army soldiers. Both subjective and objective data will be collected. Individual data will comprise of participants’ feelings on their financial management skills, while actual data will be measurable. Data on the participants’ marital status will also be collected since studies have shown that those who are married and employed exhibit short term behaviors concerning financial management compared to those who are engaged and single. The study will also collect descriptive data on the participants’ short-term and long-term responses relating to financial knowledge.
Methods and Instruments to Be Used In Data Collection
The survey will employ the following methods to collect data. The primary way of data collection will be the use of sample questionnaires to collect subjective data.Data on participants’ feelings, perceptions, and the general concern of financial literacy affect their behaviors, obtained through the use of questionnaires. The study will also employ an observation method to collect objective data, which will seek to collect measurable and observable data. The observation method will include a physical examination of the participants’ well-being. Descriptive data will be obtained through the use of observation methods and the use of surveys. Surveys will be conducted among the military households to collect data such as level of financial income, marital status, and household size. Educators and financial practitioners will use the data to reach out to military households through education that will seek to increase soldiers’ objective and subjective levels of financial knowledge. Surveys will also seek to collect data on the period the soldier has stayed in the military. The primary method that will be used to collect descriptive data will be the use of interviews. Besides, surveys and observation will also be used to collect descriptive data.
Evaluation of Data
Data will be used to develop a better understanding of the financial behaviors of military households among the U.S. army. Data collected will also be used to create ways and facilitation that will be needed to help military personnel reduce stress and strain through capacity building. Policymakers.