Financial capability of student loan holders who are college students, graduates, or dropouts

Xiao, Jing Jian; Porto, Nilton; Mason, Irene McIvor

doi:10.1111/joca.12336

Cited by 25 publications

(18 citation statements)

References 56 publications

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“…, 2010), microfinance clients (Chidambaranathan and Guha, 2020), foster care youth (Peters et al. , 2016), student loan holders (Xiao et al. , 2020) and inmates (Mielitz and Marcum, 2020).…”

Section: Propositions and Synthesesmentioning

confidence: 99%

Financial capability: a systematic conceptual review, extension and synthesis

Xiao

Huang

Goyal

et al. 2022

IJBM

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PurposeThis study aims to examine the literature on consumer financial capability. By analyzing the research trends, theories, definitions and themes, the literature on financial capability is synthesized, and agenda for future research is suggested. A framework is presented that portrays the antecedents as well as the outcomes of financial capability and their interlinkages.Design/methodology/approachFollowing a systematic approach, the review is based on 215 articles published during January 2007 and–March 2022, retrieved from Scopus. It presents the definitions and theories of financial capability, publication trends, influential articles, prominent authors, prolific journals and countries publishing on financial capability. Using bibliographic coupling, the intellectual structure of the topic is explored, along with offering a framework through content analysis.FindingsThe bibliographic coupling analysis identifies four major clusters of research themes and capability theory appeared to be the most prominent theory. The synthesis draws upon five conceptual definitions of financial capability. Based on the discussion, in this review, financial capability is defined as an individual ability to apply appropriate financial knowledge, perform desirable financial behaviors and take available financial opportunities for achieving financial well-being. A conceptual framework delineates the synthesized literature and propositions based on this framework and relevant research are proposed. Finally, directions for future research are discussed.Originality/valueThis paper is an attempt to offer a comprehensive synthesis of the scholarship on financial capability and its conceptualization. It further proposes an extensive future research agenda. The study has implications for financial services providers relating to retail bank marketing.

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Section: Propositions and Synthesesmentioning

confidence: 99%

Financial capability: a systematic conceptual review, extension and synthesis

Xiao

Huang

Goyal

et al. 2022

IJBM

Self Cite

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“…In young adulthood, the acquisition of financial capability, i.e., competent financial management skills and responsibilities, is key [41]. Students who take out loans and complete their studies have higher scores on indicators of financial capability than those who drop out [42]. Subjective knowledge has a stronger relationship with financial wellbeing, prompting those responsible for developing national financial education strategies to address this knowledge in society [43].…”

Section: Knowledge In Financial Educationmentioning

confidence: 99%

Bibliometric Mapping of Research Trends on Financial Behavior for Sustainability

et al. 2021

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This article presents a global empirical overview of studies on financial behavior in relation to education, money-saving, and consumption, contributing to research on the Sustainable Development Goals (SDGs) related to social equity in the quality education (4th Sustainable Development Goal) and inequality reduction (10th Sustainable Development Goal) areas. Thus, the data and metadata of 492 articles registered between 1992 and August 2021 were extracted from the Web of Science (Journal Citation Report, JCR) and analyzed with a bibliometric approach, using classical methodological laws and the specialized software VOSviewer. Among the results, we highlight the exponential scientific production growth in the last decades, the concentration in only twelve specific journals indexed in the Journal Citation Report, the global hegemony of US universities in institutional co-authorship networks, and the thematic and temporal segregation of the concepts of financial behavior. We conclude an evolution of two decades in the relevant topics and a concentration in three large blocks: (1) financial education; (2) savings and consumption decisions; (3) financial literacy and investments, which are a temporal evolution that gives for the irruption of diverse visions in the relationship between the evolution of individual financial behavior and the global market. Given it is necessary to know the impact of financial education and financial literacy on personal savings, consumption, and investment behaviors, a larger study on financial behavior could be conducted with this research and an assessment of these results.

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“…Factors that cannot be separated from personal financial management activities are individual lifestyles. White et al (2021), Xiao et al (2020) millennial generation consumers are the most experience-hungry consumers. In fact, it is not only students with sufficient economic level of parents who can only show off the experience, students with low economic level of parents are also willing to collect their pocket money for days to enjoy their desires such as going to the mall with their friends, eat at expensive restaurants, buy luxury and branded goods.…”

Section: Relationship Student Lifestyle On Students Personal Financial Managementmentioning

confidence: 99%

“…According to White et al (2021), Xiao et al (2020) financial literacy is the ability to make estimates and effective measures about managing the use of money. While Al-Bahrani et al (2020) explained that financial literacy is a way for each individual's ability to carry out economic or financial information obtained and then made an evaluation of financial planning, financial accumulation, pensions, and debt.…”

Section: Introductionmentioning

confidence: 99%

The Effect of Financial Literacy, Parents’ Social Economic and Student Lifestyle on Students Personal Financial Management

Novitasari

Juliana

Asbari³

et al. 2021

EEAJ

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The purpose of this study was to analyze the effect of financial literacy, parents’ social economic and student lifestyle on students’ personal financial management. This study used quantitative methods and data analysis techniques of Structural Equation Modeling using SmartPLS 3.0 software. The research sample used a random sampling method. The data used primary data collected through a questionnaire. The number of returned and valid questionnaires was 220 samples. The data was processed by using SEM. The results of the study concluded that financial literacy had a significant effect on students’ personal financial management, student lifestyle had a significant effect on students’ personal financial management, and parents’ social economics had a significant effect on students’ personal financial management. The novelty of this research was the Correlation model of financial literacy, parents’ social economic and student lifestyle on students’ personal financial management. The results of this study can be a reference for further research that can be applied in other organizations.

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Financial capability of student loan holders who are college students, graduates, or dropouts

Cited by 25 publications

References 56 publications

Financial capability: a systematic conceptual review, extension and synthesis

Financial capability: a systematic conceptual review, extension and synthesis

Bibliometric Mapping of Research Trends on Financial Behavior for Sustainability

The Effect of Financial Literacy, Parents’ Social Economic and Student Lifestyle on Students Personal Financial Management

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