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ERIC Number: EJ859561
Record Type: Journal
Publication Date: 2009
Pages: 19
Abstractor: As Provided
Reference Count: 59
ISSN: ISSN-1052-3073
Effect of Personal Financial Knowledge on College Students' Credit Card Behavior
Robb, Cliff A.; Sharpe, Deanna L.
Journal of Financial Counseling and Planning, v20 n1 p25-43 2009
Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relatively higher levels of financial knowledge were not significantly different from students with relatively lower levels in terms of the probability of having a credit card balance. Contrary to expectations, those with higher levels of financial knowledge had significantly higher credit card balances. Overall, the present findings highlight the complex nature of the relationship between personal financial knowledge and credit card behavior. (Contains 3 tables.)
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site:
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A