Low financial literacy has left millennials—the largest share of the American workforce—unprepared for a severe financial crisis, according to research by the TIAA Institute. Even among those who report having a highknowledge of personal finance, only 19% answered questions...
Other factors such as gender, age, income, or education determine financial literacy according to authors such as Lučić et al. (2020), Dundure and Sloka (2021), and Siegfried and Wuttke (2021). Table 1 summarizes some of the conclusions from several studies on the determinants of litera...
Financial Literacy in College More Getty Images Making financial decisions – including around budgeting, taking out loans or investing – can be daunting, and many college students feel ill-equipped to do so. Given the rising cost of tuition, college students need to be more ...
The purpose of this study is to examine the ability of financial literacy, financial innovation, and financial inclusion to mitigate the adverse effect of corruption on banks’ credit risk, profitability, and financial stability, with this joint inclusion being the novelty explored. Furthermore, we ...
Financial education can influence the level of financial literacy. In many countries public authorities implement financial education policy by means of ex
This study investigates how financial literacy and behavioral traits affect the adoption of electronic payment (ePayment) services in Japan. We construct a financial literacy index using a representative sample of 25,000 individuals from the Bank of Japa
Interest in financial services jobs has grown, driven by factors such as the need for financial literacy among teenagers and young adults and the desire among some older professionals to change careers. There are many different career opportunities in the financial services industry, but most people...
Previous literature provides conflicting evidence, possibly due to the different facets of financial literacy and financial advice seeking that can be applied. Previous authors employ different tools to reveal one’s financial literacy, which investigate in greater or less depth the objective knowledge; ...
However, to the best of our knowledge, the relationship between money illusion, financial literacy and numeracy has not yet been explored, although some authors suggest that a lack of numeracy and financial literacy skills can at least partly explain money illusion. For instance, Shiller (2005) ...
enhancing firm productivity (Tao et al.,2023). According to human capital theory, as posited by Becker (2009), human capital encompasses the cumulative knowledge, skills, cultural sophistication, and health status of an individual. Financial literacy, as a form of scarce human capital, ...