Financial Knowledge among Educated Women: Room for Improvement

We examined financial knowledge among educated women with at least a bachelor's degree by analyzing the results from a 2009 survey representing a well-defined sample (N = 4,344) of alumnae from a highly selective liberal arts college for women. This study found modest levels of financial knowledge with wide variation. Specifically, in the sample of alumnae, respondents in an older cohort, with higher household income, and those who obtained an MBA degree exhibit higher levels of financial knowledge. These results highlighted the need for effective financial education for many college-educated women.