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ERIC Number: EJ941903
Record Type: Journal
Publication Date: 2011
Pages: 11
Abstractor: As Provided
Reference Count: 40
ISSN: ISSN-1052-3073
Financial Knowledge and Best Practice Behavior
Robb, Cliff A.; Woodyard, Ann S.
Journal of Financial Counseling and Planning, v22 n1 p60-70 2011
The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally representative sample of 1,488 participants and are analyzed using multiple regression analysis. Findings suggest that both objective and subjective financial knowledge influence financial behavior, with subjective knowledge having a larger relative impact. Other variables that have a significant impact on financial behavior include financial satisfaction, income, education, age, race, and ethnicity. (Contains 2 figures and 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: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A