Financial Education And The Debt Behavior Of The Young PDF Download
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Author | : Meta Brown |
Publisher | : |
Total Pages | : 45 |
Release | : 2013 |
Genre | : |
ISBN | : |
Download Financial Education and the Debt Behavior of the Young Book in PDF, ePub and Kindle
More than three-quarters of U.S. households bear consumer debt, yet we have little understanding of the relationship between financial education and the debt behavior of U.S. consumers. In this paper, we study the effects of exposure to financial training on debt outcomes in early adulthood. Identification comes from variation in financial literacy, economics, and mathematics course offerings and graduation requirements mandated over the 1990s and 2000s by state-level high-school curricula. The FRBNY Consumer Credit Panel provides debt outcomes based on quarterly Equifax credit reports from 1999 to 2012. Our analysis, based on a flexible event-study approach, reveals significant effects of financial education on debt-related outcomes of youth. On the extensive margin, financial literacy education has a sizable impact on the propensity of youth having a credit report. Conditional on having a credit report, on the intensive margin, math and financial literacy education exposure reduces the incidence of adverse outcomes - such as accounts in collections and delinquent accounts - and reduces both the likelihood of youth carrying debt and their average debt balances. The net effect of both math and financial literacy education is an increase in youths' average creditworthiness, as measured by the Equifax risk score. On the other hand, economic education increases the likelihood of individuals carrying balances, leads to significant increases in debt balances - in particular, debt used to support consumption - and, at the same time, increases the likelihood of adverse credit outcomes, leading to a decline in youths' average risk scores. The effects of these financial education policies accumulate over the course of early adulthood. Our results suggest that financial education programs, increasingly promoted by policymakers, are likely to have significant impacts on the financial decision-making of youth, but the effects depend on the content of these programs.
Author | : Beata Świecka |
Publisher | : Walter de Gruyter GmbH & Co KG |
Total Pages | : 122 |
Release | : 2019-03-18 |
Genre | : Business & Economics |
ISBN | : 3110636956 |
Download Financial Literacy and Financial Education Book in PDF, ePub and Kindle
It is a well-known saying that money does not buy happiness. But it certainly helps in life. It is important to have enough of it to satisfy our needs and to secure ourselves from emergency situations. That's what adults think. And what about the youth? What is their approach to money, what do they know about finances and how are their skills in everyday financial management coming along? What kind of knowledge and skills should be provided? Do young people in different countries represent similar or different approaches to financial matters? Using the results of a research on young people in Poland and Germany, the authors draw a picture of financial literacy. They furthermore present a number of recommendations that help developing the knowledge and the financial skills of young people in practice.
Author | : Leila Izadian |
Publisher | : |
Total Pages | : 33 |
Release | : 2021 |
Genre | : |
ISBN | : |
Download Financial Literacy Book in PDF, ePub and Kindle
This proposed study applies insights from various perspectives to the issue of financial success for young adults as they complete their K-12 education and enter into the workforce environment as productive members of society. This research will be questioning how the restructuring of K-12 education; by integrating financial literacy education as part of the curriculum will enhance the quality of students' financial success as they complete their 12 years of education from K-12 school districts. This paper explores the possibilities of educational policy reform that can be implemented by school district public administration officials by integrating financial literacy as part of the K-12 curriculum. It examines the low personal savings rate and debt behavior of the young and the potentially life-changing impact that a gradual method of including financial education has on furthering the success of students as they embark into society and explore their professional lives.
Author | : Eveline Wuttke |
Publisher | : Barbara Budrich |
Total Pages | : 236 |
Release | : 2016-05-23 |
Genre | : Education |
ISBN | : 3847406027 |
Download Economic Competence and Financial Literacy of Young Adults Book in PDF, ePub and Kindle
The authors take a detailed look at the economic competence and financial literacy of young adults, especially of those who start an apprenticeship or who take up their studies at a university. Economic competence and financial literacy are of special interest within this group, because these young people are – mostly for the fi rst time in their lives – responsible for autonomously managing their own fi nancial affairs and deal with economic challenges.
Author | : Folasade O. Adesina |
Publisher | : |
Total Pages | : |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Examining Young Adults' Debt Control Behavior Book in PDF, ePub and Kindle
The apparent general lack of effectiveness of financial education programs and financial knowledge in improving financial literacy has led to calls for more investigation of "lived experiences". There is also a perception that we need to better understand other factors that potentially affect financial behavior (Fernandes et al, 2014). This current study has answered these calls, to help extend research beyond assuming that having knowledge will automatically improve behavior to understanding the larger behavioral context. This study explores the Integrated Behavior Model (Montano & Kasprzyk, 2008) to help guide the operationalization of the IBM constructs for young adults and their financial control behavior, and also explores their lived experiences. The study has identified potential individuals and factors which could influence young adults' financial behavior so that future researchers have a foundation for determining the referents to include when studying financial literacy.
Author | : Jing Jian Xiao |
Publisher | : Springer |
Total Pages | : 379 |
Release | : 2016-05-30 |
Genre | : Psychology |
ISBN | : 3319288873 |
Download Handbook of Consumer Finance Research Book in PDF, ePub and Kindle
This second edition of the authoritative resource summarizes the state of consumer finance research across disciplines for expert findings on—and strategies for enhancing—consumers’ economic health. New and revised chapters offer current research insights into familiar concepts (retirement saving, bankruptcy, marriage and finance) as well as the latest findings in emerging areas, including healthcare costs, online shopping, financial therapy, and the neuroscience behind buyer behavior. The expanded coverage also reviews economic challenges of diverse populations such as ethnic groups, youth, older adults, and entrepreneurs, reflecting the ubiquity of monetary issues and concerns. Underlying all chapters is the increasing importance of financial literacy training and other large-scale interventions in an era of economic transition. Among the topics covered: Consumer financial capability and well-being. Advancing financial literacy education using a framework for evaluation. Financial coaching: defining an emerging field. Consumer finance of low-income families. Financial parenting: promoting financial self-reliance of young consumers. Financial sustainability and personal finance education. Accessibly written for researchers and practitioners, this Second Edition of the Handbook of Consumer Finance Research will interest professionals involved in improving consumers’ fiscal competence. It also makes a worthwhile text for graduate and advanced undergraduate courses in economics, family and consumer studies, and related fields.
Author | : Gianni Nicolini |
Publisher | : Routledge |
Total Pages | : 560 |
Release | : 2021-12-30 |
Genre | : Business & Economics |
ISBN | : 1000487849 |
Download The Routledge Handbook of Financial Literacy Book in PDF, ePub and Kindle
Financial literacy and financial education are not new topics, even though interest in these topics among policymakers, financial authorities, and academics continues to grow. The Routledge Handbook of Financial Literacy provides a comprehensive reference work that addresses both research perspectives and practical applications to financial education. This is the first volume to summarize the milestones of research in financial literacy from multiple perspectives to offer an overview. The book is organized into six parts. The first three parts provide a conceptual framework, which discusses what financial literacy is, how it should be measured, and explains why it represents a relevant topic and effective tool in enhancing decision-making among consumers as well as consumer protection strategies. Part IV addresses the connection between financial education and financial literacy, with chapters about financial education in school settings as well as for adults. This part includes an analysis of the role of Fintech and the use of gamification in financial education. Part V is a collection of contributions that analyze financial literacy and financial education around the world, with a focus on geographical areas including the U.S., South America, Western Europe, Eastern Europe, Asia, and Africa. This part also considers how financial literacy should be addressed in the case of Islamic finance. The concluding part of the book examines how financial literacy is related to other possible approaches to consumer finance and consumer protection, addressing the relationships between financial literacy and behavioral economics, financial well-being, and financial inclusion. This volume is an indispensable reference for scholars who are new to the topic, including undergraduate and graduate students, and for experienced researchers who wish to enrich their knowledge, policymakers seeking a broader understanding and an international perspective, and practitioners who seek knowledge of best practices as well as innovative approaches.
Author | : Alexandra Brown |
Publisher | : |
Total Pages | : 42 |
Release | : 2020 |
Genre | : |
ISBN | : |
Download State Mandated Financial Education and the Credit Behavior of Young Adults Book in PDF, ePub and Kindle
In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of these programs on the credit behaviors of young adults. Using a panel of credit report data, we examine young adults in three states where personal financial education mandates were implemented in 2007: Georgia, Idaho, and Texas. We compare the credit scores and delinquency rates of young adults in each of these states pre- and post-implementation of the education to those of students in a synthetic control state and then bordering states without financial education. We find that young people who are in school after the implementation of a financial education requirement subsequently have higher relative credit scores and lower relative delinquency rates than those in control states.
Author | : Eveline Wuttke |
Publisher | : Verlag Barbara Budrich |
Total Pages | : 236 |
Release | : 2016-05-23 |
Genre | : Education |
ISBN | : 3847402838 |
Download Economic Competence and Financial Literacy of Young Adults Book in PDF, ePub and Kindle
The authors take a detailed look at the economic competence and financial literacy of young adults, especially of those who start an apprenticeship or who take up their studies at a university. Economic competence and financial literacy are of special interest within this group, because these young people are – mostly for the fi rst time in their lives – responsible for autonomously managing their own fi nancial affairs and deal with economic challenges.
Author | : Dorothy B. Durband |
Publisher | : Springer |
Total Pages | : 235 |
Release | : 2018-10-16 |
Genre | : Social Science |
ISBN | : 3319725866 |
Download Financial Counseling Book in PDF, ePub and Kindle
"This text is a valuable new resource that we recommend for all of our professionals and are proud to incorporate as part of our AFC® certification program. With expertise representing the breadth and depth of the financial counseling profession, the content in this text provides you with a rigorous foundation of knowledge, considers critical theoretical models, and explores foundational skills of communication, self-awareness, and bias. This type of comprehensive approach aligns with our mission and vision—providing you with the foundational knowledge to meet clients where they are across the financial life-cycle and impact long-term financial capability." -Rebecca Wiggins, Executive Director, AFCPE® (Association for Financial Counseling and Planning Education®) This timely volume presents a comprehensive overview of financial counseling skills in accessible, practical detail for readers throughout the career span. Expert financial counselors, educators, and researchers refer to classic and current theories for up-to-date instruction on building long-term client competence, working with clients of diverse backgrounds, addressing problem financial behavior, and approaching sensitive topics. From these core components, readers have a choice of integrated frameworks for guiding clients in critical areas of financial decision-making. This essential work: · Offers an introduction to financial counseling as a practice and profession · Discusses the challenges of working in financial counseling · Explores the elements of the client/counselor relationship · Compares delivery systems and practice models · Features effective tools and resources used in financial counseling · Encourages counselor ethics, preparedness, and self-awareness A standout in professional development references, Financial Counseling equips students and new professionals to better understand this demanding field, and offers seasoned veterans a robust refresher course in current best practices.