Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey

Gutter, Michael S.; Çopur, Zeynep

doi:10.1007/s10834-011-9255-2

Cited by 266 publications

(275 citation statements)

References 43 publications

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“…Research has shown that positive financial behaviors are related to improved financial well-being (Joo & Grable, 2004), decreased financial stress (Hayhoe, Leach, Turner, Bruin, & Lawrance, 2000) and higher self-esteem (Lange & Byrd, 1998). Because of these far-reaching consequences of financial behaviors, it is important to investigate which factors have a significant impact on them in order to increase students' general quality of life in later years (Gutter & Copur, 2011;Xiao, Tang, & Shim, 2008).…”

Section: Introductionmentioning

confidence: 99%

Factors Influencing College Students’ Financial Behaviors in Turkey: Evidence from a National Survey

Akben-Selçuk¹

2015

IJEF

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The purpose of this study was to investigate the factors influencing financial behaviors among college students in Turkey. Data was obtained from a nationwide survey of 1539 students (748 women, 791 men; M age = 22.01 yr., SD = 2.44) and three financial behaviors were analyzed: paying bills on time, having a budget in place, and saving for the future. Logistic regression results showed that students who are more financially literate are more likely to exhibit the three positive financial behaviors. Parental teaching of finance and positive attitudes towards money were also found to be significant predictors of positive financial behaviors. A significant difference between male and female students was only observed for budgeting behavior and male students were found to be less likely to have a budget in place to control their finances. Finance courses taken in college or high school and work experience were positively related to saving behavior, but unrelated to timely payment or budgeting. Finally, students' class rank was not found to be significantly related to any of the financial behaviors. Policy implications are provided.

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Section: Introductionmentioning

confidence: 99%

Factors Influencing College Students’ Financial Behaviors in Turkey: Evidence from a National Survey

Akben-Selçuk¹

2015

IJEF

View full text Add to dashboard Cite

show abstract

“…Financial wellness is a multidimensional concept involving financial satisfaction, objective status of financial situation, financial attitudes, and behavior (Joo 2008). In the existing literature on the topic, there are cases where these labels (financial well-being, financial satisfaction, financial wellness) are used synonymously (e.g., Gutter and Copur 2011;Joo and Grable 2004).We argue that, even if these three constructs overlap, they do not coincide. Through this review, we aim to identify the specificity of financial well-being, and clarify the boundaries of associated terms with similar and partial overlapping constructs.…”

Section: Introductionmentioning

confidence: 92%

“…"Financial well-being is a function of individual characteristics, financial behaviors, and financial stressor events" (Gutter and Copur 2011). "Individual's financial well-being can be either objective (as measured in terms of income, assets, etc.)…”

Section: Financial Well-being Construct-related Informationmentioning

confidence: 99%

“…Across the 44 included studies, the sample size varied greatly, from 149 emerging adults in Negru-Subtirica et al (2015) to 15,797 in Gutter and Copur (2011). For each of these samples, the range, mean, and standard deviation of the participants' age were examined.…”

Section: Data Collection-related Informationmentioning

confidence: 99%

“…Examples for the first and second factors are "I am confident in my abilities to handle credit cards" and "I will be able to handle my money in the years to come," respectively. The second validate instrument used to measure subjective financial wellbeing was the InCharge Financial Distress/Financial WellBeing Scale (Prawitz et al 2006) adopted in Gutter andCopur (2011) andSpangler (2013). This scale comprised eight items, each evaluated on a ten-point response scale.…”

mentioning

confidence: 99%

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