Top Research Papers on Financial Literacy

Financial literacy is a combination of financial knowledge, attitudes and behaviors, key for making informed decisions and for solving financial problems. This descriptive study explored the applied, conceptual and procedural financial knowledge of 243 Mexican students via three financial knowledge tests. In addition, these students were surveyed about their financial behavior, their attitudes towards money, and their experience with money using a self-report questionnaire. The study aims to identify financial-education needs and gaps between school levels and systems. Therefore, the analysis ...

In the textbook for universities on the course "Financial literacy", the issues of formation and development of financial literacy of the population are disclosed, the main characteristics of finance are considered and practical recommendations on financial planning of personal and family budgets, tips on avoiding financial fraud are given. Much attention is paid to the methods of investing money, the basics of creating your own business. At the end of each chapter, tasks, tests and a glossary are offered to consolidate the theoretical material. Meets the requirements of the federal state edu...

The CFA Society Pittsburgh launched a high school financial literacy campaign resulting in sig- nificant improvements in financial behavior, subjective and objective financial knowledge, and self- esteem. Before the campaign, male students and students with higher grade point averages (GPAs) show better objective knowledge. In addition, we find disconnect between actual and perceived fi- nancial knowledge. Students exhibited gains in all aspects after completing the program. The subca- tegories with the lowest pre-survey scores or female students show the greatest improvements in the post-surv...

The Office of the Dean of Students sponsors and coordinates the UNC Financial Literacy Consortium. This partnership between the UNC Financial Literacy Initiative, Coastal Federal Credit Union, and Franklin Street Partners aims to help students develop knowledge and practices for a financially successful future. Workshops on a variety of financial wellness topics will be available throughout the semester for students to learn more. Refreshments and/or meals are served during each workshop.

The present paper explores various approaches to the development of cognitive process dimensions in financial literacy. Applying the regression model, the study has examined the strength of the relationship between the actual financial competence of 413 Brazilian’s students aged 18-21, studying economic disciplines, and their school performance. The research has produced the following conclusions: (a) a weak dependence of actual skills on school performance; (b) inherently associated consequence of school performance is not corresponding to the actual financial skills; (c) a low level of finan...

In the United States student loan debt has reached one trillion dollars. The increase in student loan debt correlates with an increase in the number of student loans in default. This study was conducted to determine the financial literacy of college students enrolled in a pre-professional setting. The information obtained was analyzed to uncover trends in student loan debt and default rates regarding student loans and repayment. A convenience sample of Touro College’s School of Health Sciences students were given a survey containing questions relating to demographics, and current habits such a...

Financial literacy is a combination of financial knowledge, attitudes and behaviors, key for making informed decisions and for solving financial problems. This descriptive study explored the applied, conceptual and procedural financial knowledge of 243 Mexican students via three financial knowledge tests. In addition, these students were surveyed about their financial behavior, their attitudes towards money, and their experience with money using a self-report questionnaire. The study aims to identify financial-education needs and gaps between school levels and systems. Therefore, the analysis ...

The Office of the Dean of Students sponsors and coordinates the UNC Financial Literacy Consortium. This partnership between the UNC Financial Literacy Initiative, Coastal Federal Credit Union, and Franklin Street Partners aims to help students develop knowledge and practices for a financially successful future. Workshops on a variety of financial wellness topics will be available throughout the semester for students to learn more. Refreshments and/or meals are served during each workshop.

Financial literacy (fl) is generally regarded as an economic good which individuals choose whether or not to consume depending on how much of a contribution they expect it to make to the quality of their financial decision-making. This construct has not, however, been tested empirically. In this study we analyse variations in fl on the part of individuals who experience major life-cycle events that show up in the data and that can be assumed to have repercussions on their personal finances. The analysis of a panel made up of approximately 12,000 people indicates that there is a correlation bet...

Ohio Saves For youth 14 and up, Ohio Saves provides access to financially focused content via email or text. By signing the Ohio Saves pledge, students will be able to identify an important savings goal, for anything from education to purchasing a first car, and begin to take the steps necessary to begin building healthy financial habits And it doesn’t stop there! America Saves will keep students motivated with periodic information, advice, tips, and reminders sent by email or text message to help them reach their savings goal. Think of it as providing students with their own personal support ...

Since the end of the 1990s, the idea that all responsible governments must promote financial education policies has been spreading, nationally and internationally. This need is backed up by a repetitive narrative: because of economic instability, the increased role of financial markets in household finances, and the withdrawal of the welfare state, individuals face increasing risks. To address these risks, they must improve their financial literacy, in order to make the most informed choices and transform their behavior. Individuals therefore seem to stand alone against financial risks, with s...

Adrianna Kezar and Hannah Yang argue that financial literacy is both an important life skill and a critical intellectual competency.

How much do individuals know? Increasingly, individuals are in charge of securing their own financial well-being after retirement. With the shift from defined benefit to defined contribution pensions, today's workers must decide both how much to save and how to allocate their retirement wealth. Financial markets have become more complex and individuals are faced with a proliferation of new investment products. Investment opportunities have expanded beyond national borders, permitting individuals to invest in a broad range of assets and currencies. However, as the financial crisis has made clea...

The notion of financial literacy is not a new one. It is widely perceived as being important, hence something to be encouraged in those who are not financially literate, as exemplified by the existence of organisations dedicated to generating financial literacy in, for example, Australia, Canada, the U.K., and the U.S.A. But what does the term financial literacy actually mean? What distinguishes a financially literate individual from one who is financially illiterate? This chapter investigates aspects of financial literacy in particular contexts (embracing households and formal organisations –...

Nearly 4,100 personal finance websites exist on the World Wide Web, according to The Nielsen Company, and they target individuals of all ages, income levels, and needs. Personal finance websites now attract one in four people who use the Internet, said comScore.com, which tracks Internet traffic, rivaling Facebook in popularity. At the forefront of this trend are websites that monitor budgets for young professionals with high disposable income, deliver coupons to the thrifty, and host calculators capable of boiling down personal financial information into a single chart or a long-term financia...

Chemical and pharmacological studies carried out on neotropical Myrtaceae species are reviewed, based on original articles published since 1980 and the uses in folk medicine and chemotaxonomic importance of secondary metabolites are briefly discussed.

“Only by acting as leaders—promoting employer education programs for staff and striving to set high, visible standards—can we help deliver a change in the culture.”

Financial literacy, or having the knowledge and skills to successfully manage personal finances, contributes to the financial health and stability of individuals and families.1 Financial literacy is critical for young people. In 2014, the average college student graduated with $28,950 in student loan debt.2 In a 2016 analysis, researchers estimated that people under the age of 35 had an average credit card debt of $5,808.3 Furthermore, the financial landscape is more complex and uncertain than it has been for decades.4 Being equipped with financial education and skills can have a positive impa...

The Reserve Bank of Australia (RBA) sounded a warning in October last year about the high level of household debt in the face of a possible property downturn, the signs of which may be evident in the fall of 1.4% in the September 2017 quarter in Sydney house prices - the first decline in 17 months, and which has continued since then according to private sector data. Household liabilities in Australia were 150% of income in 2016 according to the Australian Bureau of Statistics4 which is one of the highest in the world. In early 2018 Australian property was rated 'severely unaffordable' with Syd...

Purpose - The purpose of the paper is to find what are the important key words and items to become the financially literate consumer, therefore, to develop the measurement of financial literacy according to diverse age groups. Design/Methodology - Data were collected by expert interview from 25 experts in the areas of finance, that is, 15 professors of majors in finance, 10 researchers in financial market, and 5 financial officer in the government. The questions were 1) the direction of measuring the financial literacy from elementary students to the elderly, 2) what were the most important ke...