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Financial Literacy (financial + literacy)

Distribution by Scientific Domains

Humanities and Social Sciences	55%
Business, Economics, Finance and Accounting	33%

Selected Abstracts

Financial Literacy of Young Adults: The Importance of Parental Socialization

FAMILY RELATIONS, Issue 4 2010
Bryce L. Jorgensen
This article tests a conceptual model of perceived parental influence on the financial literacy of young adults. Structural equation modeling was used to test whether (a) parents were perceived to influence young adults' financial knowledge, attitudes, and behaviors and (b) the degree to which young adults' financial attitudes mediated financial knowledge and perceived parental influence on young adults' financial behaviors. A sample consisting of 420 college students participated in the study. Findings by the College Student Financial Literacy Survey (CSFLS) indicated that perceived parental influence had a direct and moderately significant influence on financial attitude, did not have an effect on financial knowledge, and had an indirect and moderately significant influence on financial behavior, mediated through financial attitude. [source]

Financial Literacy Explicated: The Case for a Clearer Definition in an Increasingly Complex Economy

JOURNAL OF CONSUMER AFFAIRS, Issue 2 2010
DAVID L. REMUND
This study explicates the concept of financial literacy, which has blossomed in use this century. Scholars, policy officials, financial experts and consumer advocates have used the phrase loosely to describe the knowledge, skills, confidence and motivation necessary to effectively manage money. As a result, financial literacy has varying conceptual definitions in existing research, as well as diverse operational definitions and values. This study dissects the differing financial literacy definitions and measures, urging researchers toward common ground. A clearer definition should improve future research, in turn helping consumers better understand and adapt to changing life events and an increasingly complex economy. [source]

Financialisation, Financial Literacy and Asset-Based Welfare

BRITISH JOURNAL OF POLITICS & INTERNATIONAL RELATIONS, Issue 3 2009
Alan Finlayson
This article examines New Labour's policies of asset-based welfare in the broader context of financialisation. It argues that these are indicative of a mode of government concerned to alter individual outlooks and aspirations, and that asset-based welfare, as developed by New Labour, is primarily a strategy for enhancing financial literacy. Exploring and identifying the general contours of New Labour's reform of welfare provision (particularly the rise of conditionality and personalisation), the article presents a case study of the Child Trust Fund, its development and marketing. The article closes with reflections on the fate of such policies after the sub-prime mortgage crisis. [source]

What Do Teens Want to Know About Money,A Comparison of 1998 and 2008

FAMILY & CONSUMER SCIENCES RESEARCH JOURNAL, Issue 4 2010
Karen P. Varcoe
Research indicates that the financial literacy of U.S. teens is low, yet they have access to and spend a great deal of money each year. Teens were surveyed in 1998 (N = 323) and again in 2008 (N = 558) to determine what teens wanted to know about money and how they wanted to learn. Data were collected regarding teens' sources of income, why money was important, the types of financial information they would like to learn, and how they would like to learn from seven counties in California,Alameda, Kern, Los Angeles, Riverside, San Diego, San Luis Obispo, and Santa Barbara. The findings indicate that teens are still interested in learning about many of the same financial topics identified in 1998, but their desire for web education has increased. These data can be used to develop programs that will interest teens. [source]

Financial Literacy of Young Adults: The Importance of Parental Socialization

HSBC brings a business model of banking to the doorsteps of the poor

GLOBAL BUSINESS AND ORGANIZATIONAL EXCELLENCE, Issue 2 2009
Pramod Marar
Tiny loans can make a huge difference, especially when coupled with financial literacy and capacity building. With a global commitment to sustainable business through financial inclusion, HSBC partners with microfinance institutions and other organizations to empower micro-entrepreneurs among India's rural poor, who in turn are changing lives, families, and entire communities. The authors provide an overview of HSBC Group's sustainability strategy, a brief history of microfinance in India, and HSBC in India's role in serving the microfinance industry. They also discuss the bank's multi-stakeholder initiatives for capacity building, which include two schools where rural women learn essential business and technical skills and financial literacy, and an environmental and social village-based initiative for water conservation and livelihood creation. © 2009 Wiley Periodicals, Inc. [source]

Financial Literacy Explicated: The Case for a Clearer Definition in an Increasingly Complex Economy

Older people's assets: a contested site,

AUSTRALASIAN JOURNAL ON AGEING, Issue 2005
Cheryl Tilse
The management of the financial assets of older people is increasingly important in the current policy context. Competing interests from the state, the market and the family regarding the appropriate use of these assets suggest that non-professional managers are assisting older people in a complex environment. This paper, based on a national prevalence study and an in-depth study, explores the nature and extent of asset management on behalf of older people. It examines the role of legal provision for substitute decision-making in these processes and concludes that the current provision is insufficient to protect older people from financial abuse and support carers to manage assets well. This paper proposes that more broadly based interventions are required in a complex environment of competing interests. Such interventions include attitudinal change, improved financial literacy, information and support for older people and informal asset managers and improved monitoring and support for substitute decision makers. [source]