Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation

Borden, Lynne M.; Lee, Sun A.; Serido, Joyce; Collins, Dawn

doi:10.1007/s10834-007-9087-2

Cited by 252 publications

(159 citation statements)

References 27 publications

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“…While the increased participation of women in higher education brings with it the promise of better economic welfare, the issue of women's ability in money management and financial behvaiour remains a concern due to women's low level of financial literacy (Lusardi & Mitchell, 2011;Mottola, 2013), their lower financial management skills (Hung, Yoong, & Brown, 2012) and their negative attitude toward money (Borden, Lee, Serido, & Collins, 2008). These gender differences in principal financial skills may result in differences in financial behaviour between the two genders and in differences in money management and levels of financial wellbeing between male and female college students.…”

Section: Introductionmentioning

confidence: 99%

An Exploratory Study of Personal Financial Wellbeing Determinants: Examining the Moderating Effect of Gender

Falahati¹,

Sabri²

2015

ASS

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Financial educators have placed importance on the study of the determinants of financial wellbeing for some decades now. The subject of the research has comprised factors such as marital status, employment status, education, income and health, which impact on financial wellbeing. However, there is as yet, a lack of research on the perceived influence of differences in financial wellbeing between the genders, particularly within the Asian context. The present research evaluates the moderating effect of gender on the determinants of financial wellbeing among college students in Malaysia. Samples for this study comprised students in Malaysian universities. The multi stage stratified random sampling technique was utilized to select the respondents, while self-administered questionnaires were used to collect the data. Further, a multi-group analysis approach using AMOS was used in studying the influence of gender on financial wellbeing. The findings of the present research show that among college students, gender has a substantial moderating effect on the factors related to financial wellbeing.

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Section: Introductionmentioning

confidence: 99%

An Exploratory Study of Personal Financial Wellbeing Determinants: Examining the Moderating Effect of Gender

Falahati¹,

Sabri²

2015

ASS

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“…In general, this research has found that financial education for college students positively affects financial knowledge, behavior, and outcomes whether it is administered via a seminar (Borden et al 2008), a high school personal finance course (Urban et al 2014), or a college course in personal finance (Robb and Sharpe 2009). Overall, the existing counseling and financial education literature suggests that the financial counseling offered to Montana State students should improve their academic performance, career choices, and financial outcomes.…”

Section: Effects Of Financial Counselingmentioning

confidence: 99%

Does Salient Financial Information Affect Academic Performance and Borrowing Behavior among College Students?

Schmeiser

Stoddard

Urban

2015

FEDS

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While rising student loan debt can plague college students future finances, few federal programs have been instituted to educate college students on the mechanics of student loan borrowing. This paper exploits a natural experiment in which some students received "Know Your Debt" letters with incentivized offers for one-on-one financial counseling. Montana State University students who reached a specific debt threshold received these letters; University of Montana students did not. We use a difference-in-difference-in-differences strategy to compare students above and below the thresholds across campuses and before and after the intervention to determine how the letters affect student behavior. Employing a rich administrative dataset on individual-level academic records and financial aid packages, we find that students receiving the letters borrow an average of $1,360, less in the subsequent semester-a reduction of one-third. This does not adversely affect their academic performance.In fact, those who receive the intervention take more credits and have higher GPAs in the subsequent semester.

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“…Therefore, there is an association between financial knowledge, wealth, and financial decisions (Jappelli & Padula, 2013). People equipped with financial information are efficient and show riskier behavior than the masses (Borden, Lee, Serido, & Collins, 2008). In the absence of financial knowledge, investors are vulnerable (Muller & Weber, 2010).…”

Section: Financial Literacy and Stock Market Participationmentioning

confidence: 99%

Financial Sophistication, Emotional Quotient, and Stock Market Participation: Theory and Evidence

2017

J. Islam. bus. manag.

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Abstract. Decisions in the stock markets are made by individuals and influenced by financial sophistication and emotions. Accordingly, the current study investigates the impact of financial sophistication and emotional quotient on stock market participation. Empirical results demonstrated a positive association between motivation and stock market participation and, counter to the expectation, negative association between selfawareness and stock market participation. In today's dynamic environment, cognizant application of financial knowledge ensures efficiency, modifies the basic relations, and hence moderates the relationship between self-awareness and stock market participation. According to this study as well, financial literacy does not moderate the relationship between motivation and stock market participation. Results are in line with the Western settings and can be well-generalized to the Pakistani settings, having implications at micro and macro levels for individuals, industrial managers, Sharī'ah scholars, and Islamic financial institutions. Study paved path for authorities of Islamic stock markets to structure trading system supported by motivation, self-awareness and financial sophistication of investors.

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Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation

Abstract: College students, Financial education, Financial knowledge, Financial behavior, Financial attitudes,

Cited by 252 publications

References 27 publications

An Exploratory Study of Personal Financial Wellbeing Determinants: Examining the Moderating Effect of Gender

An Exploratory Study of Personal Financial Wellbeing Determinants: Examining the Moderating Effect of Gender

Does Salient Financial Information Affect Academic Performance and Borrowing Behavior among College Students?

Financial Sophistication, Emotional Quotient, and Stock Market Participation: Theory and Evidence

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