Effect of Personal Financial Knowledge on College Students' Credit Card Behavior

Effect of Personal Financial Knowledge on College Students' Credit Card Behavior

Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relati...

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Veröffentlicht in:Financial counseling and planning 2009-01, Vol.20 (1), p.25
Hauptverfasser: Robb, Cliff A, Sharpe, Deanna L
Format: Artikel
Sprache:eng
Schlagworte:
Attitudes
Behavior Patterns
Campuses
College campuses
College Students
Comparative Analysis
Credit (Finance)
Credit card industry
Credit cards
Debt (Financial)
Ethnicity
Family Income
Gender Differences
Knowledge Level
Minority Groups
Money Management
Personal finance
Positive Attitudes
Probability
Social Class
Statistical Analysis
Studies
Surveys
Undergraduate Students
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Beschreibung
Zusammenfassung:Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relatively higher levels of financial knowledge were not significantly different from students with relatively lower levels in terms of the probability of having a credit card balance. Contrary to expectations, those with higher levels of financial knowledge had significantly higher credit card balances. Overall, the present findings highlight the complex nature of the relationship between personal financial knowledge and credit card behavior. [PUBLICATION ABSTRACT]
ISSN:1052-3073