Rational Emotive and Cognitive Behavior Coaching Intervention for Promoting College Students’ Financial Risk Tolerance and Attitudes Towards Financial Risk

Abstract

In this study, we reported the effect of an online business coaching intervention based on the rational-emotive and cognitive behavior therapy coaching (RE-CBT coaching) approach that was tested to determine if it can improve college students’ financial risk tolerance and attitudes towards financial risk. The researchers used an open label, group randomized control design. During the study, fifty-four participants were part of the online business coaching group, whereas fifty-three participants were part of the control group. Prior to and immediately after the coaching program, as well as three months later, quantitative data was collected. Posttest data based on test of between-subjects effects revealed that online business coaching program based on RE-CBT coaching approach was significantly helpful in the improvement of students’ financial risk tolerance and attitudes toward financial risk compared to control group. Follow-up data based on test of between-subjects effects further revealed that the significantly helpful effects of online business coaching program based on RE-CBT coaching approach on students’ financial risk tolerance and attitudes toward financial risk were sustained when compared to control group. According to the findings, online business coaching based on RE-CBT coaching approach has the potential to enhance the financial risk tolerance and attitudes toward financial risk among college students.