Association between Financial Education, Affective and Cognitive Financial Knowledge, and Financial Behavior

Delgadillo, Lucy M.; Lee, Yoon G.

doi:10.1111/fcsr.12414

Cited by 6 publications

(4 citation statements)

References 28 publications

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Section: Theoretical Framework and Hypothesesmentioning

confidence: 99%

“…It has been found that financial knowledge is linked to both short‐term and long‐term financial behaviors (Coskuner, 2016; Delgadillo & Lee, 2021; Henager & Cude, 2016; Kim et al., 2019; Robb & Woodyard, 2011; Xiao et al., 2014). For example, those who expressed a higher level of financial knowledge were more likely to have a retirement plan (Lusardi et al., 2017).…”

Section: Related Literaturementioning

confidence: 99%

“…As limited research has investigated how perceptions and financial behaviors differ based on marital status and gender, this study aims to examine the relationship between financial perceptions and financial behaviors across four marital/gender groups. In particular, using nationally representative data, this study focuses on how marital status and gender play a role in practicing healthy financial behaviors (Delgadillo & Lee, 2021; Henager & Cude, 2016; Robb & Woodyard, 2011; Wagner & Walstad, 2019; Xiao et al., 2014). Based on the theory of planned behavior and previous literature, we present the following two hypotheses:H1 There will be differences in the level of negative financial perceptions and the frequency of short‐ and long‐term financial behaviors across the four groups (i.e., married men, married women, and single men).H2 Holding other variables constant, single women will practice lower levels of healthy financial behaviors than the other three groups.…”

Section: Related Literaturementioning

confidence: 99%

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Financial perceptions and financial behaviors across marital status and gender

Lee,

Kelley

2023

Family & Consum Sci Res J

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This study examined associations between financial perceptions and financial behaviors among four marital/gender groups (e.g., married men, married women, single men, and single women). Descriptive results show significant differences in financial perceptions and financial behaviors across the groups. Specifically, single women reported significantly higher levels of perceived dissatisfaction and too much debt than the other three groups. Using OLS regression analysis, we found that compared to single women, married men, married women, and single men practiced higher levels of healthy financial behaviors. This study informs that financial education programs should be effective across marital and gender groups.

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Section: Theoretical Framework and Hypothesesmentioning

confidence: 99%

Section: Related Literaturementioning

confidence: 99%

Section: Related Literaturementioning

confidence: 99%

See 1 more Smart Citation

Financial perceptions and financial behaviors across marital status and gender

Lee,

Kelley

2023

Family & Consum Sci Res J

Self Cite

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“…Previous research has found a strong link between financial knowledge and financial behavior (Coskuner, 2016;Perry & Morris, 2005;Robb & Woodyard, 2011;Xiao et al, 2014). Previous research has found strong links between financial knowledge and both short-and long-term financial behaviors (Delgadillo & Lee, 2021;Henager & Cude, 2016). Previous research has also distinguished between the impact of subjective and objective financial knowledge on financial behaviors.…”

Section: Financial Behaviour Financial Experience and Financial Satis...mentioning

confidence: 99%

Nexus between Government Assistance and Savings: Preliminary Analysis of Households in Malaysia

Mohd Shakil,

Mohamad Azhar,

Othman

et al. 2023

IMBR

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This preliminary study investigates the relationship between government assistance and household savings. The study aimed to shed light on whether government assistance programs directly influence households' savings habits. Data were collected from 25 representative sample households, including their income, expenses, savings, and participation in government assistance programs. The study examined how much money households could save regularly. The study suggested a significant correlation, between government assistance and household savings. Families that received some form of government support demonstrated a lower propensity to save than those who did not receive assistance. This trend was consistent across different income brackets and demographic groups. The researchers proposed several potential reasons for this relationship. There can be several reasons for this negative relationship. First, increased government assistance may alleviate financial strain and provide immediate relief for individuals or households, reducing the urgency or perceived need to save for future expenses or emergencies. Second, some government assistance programs may have income limits or asset tests that discourage or restrict saving behavior. It is important to note that this study was preliminary, and further research is necessary to establish a more robust understanding of the relationship between government assistance and household savings. Future studies could delve into the long-term effects of government support on savings behavior and investigate the specific mechanisms through which assistance programs influence savings habits. The preliminary findings suggest a negative association between government assistance and household savings. It emphasizes the importance of further exploring this relationship to understand household financial well-being comprehensively.

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Financial Behaviors, Government Assistance, and Financial Satisfaction

2023

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Using data from the 2018 National Financial Capability Study (NFCS), this study examined the relationships between poor financial behaviors, receiving government assistance, and financial satisfaction while accounting for adverse financial experiences. The logistic regression results showed that both poor financial behaviors and adverse financial experiences increased the likelihood of receiving government assistance. The OLS results indicated that receiving government assistance significantly increased levels of financial satisfaction, whereas poor financial behaviors significantly decreased levels of financial satisfaction. While the magnitude of these associations for both receiving government assistance and poor financial behaviors was small, adverse financial experiences had a stronger influence on the levels of financial satisfaction. When we combined poor financial behaviors and receiving government assistance into a categorical variable, we gained additional insights into the connections between these constructs that warrants further research.

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Association between Financial Education, Affective and Cognitive Financial Knowledge, and Financial Behavior

Cited by 6 publications

References 28 publications

Financial perceptions and financial behaviors across marital status and gender

Financial perceptions and financial behaviors across marital status and gender

Nexus between Government Assistance and Savings: Preliminary Analysis of Households in Malaysia

Financial Behaviors, Government Assistance, and Financial Satisfaction

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