Electronic Theses and Dissertations



Document Type



Liberal Studies

Committee Chair

Velma Zahirovic-Herbert

Committee Member

Colin Chapell

Committee Member

Allison Potter

Committee Member

Kathryn Sharpe


Research has shown that the levels of financial literacy in urban communities are extensively low and directly affect individuals’ financial capability while determining the success of their financial future. This lack of financial literacy is reflected through the lack of wealth accumulation in these communities. One of the biggest measures of wealth is homeownership and minority groups are least likely to own homes in their lifetimes while being most likely to default on home loans due to the lack of financial literacy and capability needed to sustain their finances. The purpose of this study is to determine whether educating younger, urban audiences on financial literacy and capability concepts related to homeownership can increase the potential of generating wealth in urban communities through sustainable homeownership. A homeownership preparation course was designed to combine financial literacy and homeownership education for testing on an audience of 18- to 30- year-old minority individuals from Memphis and surrounding areas. This study uses results from two surveys taken by the ten course participants to address four research questions: Can the course influence interest in homeownership for individuals aged 18-30? Can the course influence confidence in financial capabilities related to homeownership? Can the course increase financial capability and literacy knowledge related to homeownership? Can the course increase financial and general knowledge related to homeownership sustainability? Based on the data that shows the changes in participants’ answers to survey questions, I find that this course was effective in increasing confidence in financial capabilities, financial knowledge related to homeownership and general knowledge related to homeownership sustainability with a 40% increase in setting homeownership as a financial goal, a 50% increase in the number of participants having a savings plan, an average improvement in correctly answered financial literacy questions related to homeownership of 55% and a 40% increase in participants’ understanding of general homeownership sustainability concepts. Further research is needed to determine long-term effects of the course on homeownership sustainability. However, the overall improvement in participants’ financial knowledge and ability to stabilize financial positions shows that the course has the potential to increase wealth accumulation in urban neighborhoods through homeownership.


Data is provided by the student.

Library Comment

Dissertation or thesis originally submitted to ProQuest


Embargoed until 2025-07-10

Available for download on Thursday, July 10, 2025