Financial Literacy and Emergency Saving
Using data collected by the National Financial Capability Study, a survey recently commissioned by the Financial Industry Regulatory Authority, this paper investigates the correlations between subjectively and objectively assessed measures of financial knowledge, and the probability of having saving...
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| Veröffentlicht in: | Journal of family and economic issues 2014-03, Vol.35 (1), p.40-50 |
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| container_title | Journal of family and economic issues |
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| creator | Babiarz, Patryk Robb, Cliff A. |
| description | Using data collected by the National Financial Capability Study, a survey recently commissioned by the Financial Industry Regulatory Authority, this paper investigates the correlations between subjectively and objectively assessed measures of financial knowledge, and the probability of having savings adequate to cover 3 months of typical expenses. Results indicate that households who are more financially knowledgeable or more confident in their financial ability are significantly more likely to report having emergency funds. These findings support the growing literature on the relationship between financial knowledge and economic behaviors and have wide policy implications. |
| doi_str_mv | 10.1007/s10834-013-9369-9 |
| format | Article |
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| identifier | ISSN: 1058-0476 |
| ispartof | Journal of family and economic issues, 2014-03, Vol.35 (1), p.40-50 |
| issn | 1058-0476 1573-3475 |
| language | eng |
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| source | SpringerNature Journals; Sociological Abstracts |
| subjects | Behavior Consumption Decision making Economic behaviour Education Emergency preparedness Expenditures Family Financial information Financial literacy Health care expenditures Households Knowledge Liquidity Literacy Original Paper Personal finance Personality and Social Psychology Savings Savings accounts Social Policy Social Sciences Sociology Studies |
| title | Financial Literacy and Emergency Saving |
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