Financial literacy scales are often used as a diagnostic tool to assess financial knowledge levels among various populations, although few of them have undergone empirical testing. This study utilized exploratory factor analysis (EFA) with a sample of Chinese rural migrant workers to identify the underlying structure of a financial literacy scale…

Based on a nationally representative sample of adult Poles (N = 1,004), we examined structural relationships between financial knowledge, skills, confidence, attitudes, and behavior in debt-domain. We found that financial confidence--at least regarding debt-related issues--is tied to debt attitudes and behavior beyond the extent to which the…

The mismatch between financial objective and subjective knowledge that occurs in youth and adolescents has been understudied in the literature. Based on objective and subjective financial literacy scores, this study categorizes financial literacy into four types: financial literacy overconfidence, underconfidence, competence, and naïvete in a…

This position article proposes that bankruptcy counseling and education should be tailored so that bankrupts and consumer debtors can attain "solvency literacy," a new construct developed for this initiative. They need to (a) handle their financial affairs "during" the insolvency process while (b) concurrently striving for a…

This article describes a randomized controlled trial to evaluate the effectiveness of intervention tools designed to help people save more or spend less money by enhancing their capabilities, motivations, and opportunities. The participants included 177 students from an English University who were randomly allocated to either the Control,…

We used survey data from a cross-sectional New Zealand sample of adults to examine whether financial socialization and financial literacy are associated with their financial behavior. The results show different financial socialization experiences of adult males compared to adult females are associated with higher financial literacy and higher…

In setting a new direction for the field by highlighting the importance of measure development, this article offers an original approach to modeling financial literacy, in which theories of situated learning meet self-efficacy: an approach that we claim fits well with the aims of program evaluation. It presents results from the validation of a new…

The purpose of this study was to explore the potential influence of childhood financial socialization on financial well-being in adulthood. Using a sample (N = 2,213) from De Nederlandsche Bank Household Survey (DHS) we modeled the likelihood of household debt/asset ratio less than or equal to 40%, and the likelihood of a household reporting a…

The efficacy of family budgeting programs is often measured purely in terms of financial outcomes. There has been less research on its potential impacts on cognitive outcomes. The present study investigated whether an existing financial counseling intervention could help people improve their deliberative cognitive capacity. A community sample of…

This study investigates perceived financial needs and subjective financial well-being using data from a national survey of 2,567 households in Turkey. Financial needs are measured by consumer perceived ability to meet current living expenses in the short-term as well as their assessment for the retirement security in the long-term. We also…

The main objective of this research is to identify the behavioral factors which have an effect on retirement planning behavior. The study applies the theory of planned behavior and time perspective theory as a basis for the analysis of data by the structural equation modeling technique from a sample of 900 adults in Kelang Valley, Malaysia. The…

We use data from a Dutch data set, the DNB Household Survey, annually covering the period 1996-2015, to study the relationship between informal parental saving education received when people were children or adolescents and two variables aimed to capture adult individuals' concerns for their future: planning horizon and future orientation. Our…

This study examines the gender gap in financial literacy by using the Financial Literacy Assessment from the OECD's Programme for International Student Assessment (PISA). The analysis focuses on the influence of parents on their children's understanding of financial concepts, utilizing multilevel modeling procedures to examine variance among…

In terms of future revenue stream, the potential of young adults is considered to be significant. The study is relevant to India as the segment dominates the population. The objective of the study is to examine the antecedents to financial management behavior for young adults. One hundred and sixty responses were obtained from respondents. While…

This study develops a general method for modeling changes in response to items relating to students perceptions of personal finance and financial products. The new method is illustrated to analyze data from a sample of 1,250 students aged 16-18 who participated in a financial capability education study in the UK. We demonstrate how a quantitative…