Download or read book The Relationship Between Financial Knowledge Financial Management and Financial Self Efficacy Among African American Students written by Kenneth White and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The personal finance literature has documented the positive effects of financial knowledge, financial management, and financial self-efficacy on the lives of college students. However, there is a need for a more nuanced examination of how these factors shape financial decision making among African American college students. Using data obtained from the 2014 National Student Financial Wellness Study and structural equation modeling, results indicated that financial knowledge is not directly or indirectly associated with financial self-efficacy for African American students. Only financial management is significantly associated with increased financial self-efficacy. Findings indicate that financial education based on experiential learning may be effective for the well-being of African American students. Further, as the personal finance profession seeks to increase diversity in the field, experiential learning may be the vehicle to attract more African American professionals pursuing financial counseling, planning, and education professions in the future.
Download or read book Financial Knowledge is Power written by Alexis Duckett Faison and published by . This book was released on 2019 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personal finances are an essential part of adulthood, yet we find that many Americans have low financial literacy (Financial Industry Regulatory Authority Investor Education Foundation, 2016). This phenomenon is especially true for young adults (18-25 years old) (Lusardi, 2019). Lusardi, Mitchell, and Curto (2009) found that fewer than one-third of young adults possess basic financial knowledge. The present study examined whether financial self-efficacy and financial hardship were moderators between financial literacy and financial anxiety among a young adult sample (18-25 years old; Arnett, 2000). The current study utilized moderated moderation analyses to explore the associations between financial literacy, financial anxiety (i.e., the concern and worry about finances), financial self-efficacy, and financial hardship for young adults( N = 549, 71.6% female, Mage = 20.49). Based on survey data from the Financial and Social Stress Study (Tran & Mintert, n.d.), moderated moderation results show (a) an inverse association between financial literacy and financial anxiety (direct effects) and (b) financial self-efficacy and financial hardship moderate this relationship. Specifically, for young adults experiencing high financial hardship with high financial self-efficacy, there was a strong inverse association between financial literacy and financial anxiety. This study contributes to our knowledge of the vital role of financial literacy and its association with financial anxiety for young adults. Further, these findings highlight financial self-efficacy as a potential factor for mental health providers to consider when working with young adults experiencing high financial hardship.
Download or read book Reframing Financial Literacy written by Thomas A. Lucey and published by IAP. This book was released on 2012-06-01 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scholarship related to financial and consumer education largely concerns itself with the acquisition, management, and growth of financial resources. In a global setting that witnesses increasing competition for natural resources, along with diminishing appreciation for human rights, a challenge for financial and consumer educators involves developing foundation for bettering individual wealth in manners that respect all members of a global society. Reframing Financial Literacy fills this need by providing literature that examines a broad view of financial literacy by connecting financial practice with issues of citizenship, along with personal and professional identity. It relates these issues to educational theory and practice to provide the reader with information about the relevance of improving social worth, while bettering financial wealth. Boasting 14 previously unpublished chapters from an international slate of authors, and classroom adaptable lesson plans for each chapter, Reframing Financial Literacy will interest both teachers and researchers with its exciting classroom activities and its provocative content. This is a must work that no education professional should be without.
Download or read book Student Financial Literacy written by Dorothy B. Durband and published by Springer Science & Business Media. This book was released on 2012-04-04 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: College students are particularly vulnerable to making poor financial decisions. One method of addressing personal finances and financial stress among students of higher education is through university based financial education programs. Student Financial Literacy: Program Development presents effective strategies to assist in the implementation or the enhancement of a program as a tool to improve students’ educational experience and financial well-being. It presents the key components of financial education programs designed to address the growing concerns associated with high levels of debt and low levels of financial literacy among college students. “Student Financial Literacy: Campus-Based Program Development is packed with financial education and counseling information and guidance. It was very difficult to write this review as I wanted to share ALL the excellent direction this book provides... The editors and contributing authors have developed an excellent resource for not only those interested in developing or enhancing a campus-based financial education program but also for anyone involved in financial education, counseling, and planning.” -Rebecca J. Travnichek, Family Financial Education Specialist, University of Missouri Extension Journal of Financial Counseling and Planning
Download or read book Financial Counseling written by Dorothy B. Durband and published by Springer. This book was released on 2018-10-16 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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.
Download or read book Improving Financial Knowledge in the African American Community written by Autumn Huff and published by . This book was released on 2021 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: African Americans are significantly falling behind financially compared to their counterparts. There are significant wealth disparities between African Americans and White American populations. Most of these gaps are due to a lack of financial literacy. Some financial literacy problems stem from the origins of slavery, racism, discrimination, insufficient financial education, and the lack of financial socialization in the Black community (Hamilton & Darity, 2017). Lack of financial education was the main factor that affected the economic desolation of African Americans (Scott-Darden, 2018). The goal of this project was to help make a positive change in African Americans' financial literacy. The purpose of this project was to create an educational booklet on finances to serve African Americans and allow them to have access to essential financial information.
Download or read book Financialization Financial Literacy and Social Education written by Thomas A. Lucey and published by Routledge. This book was released on 2021-09-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this book is to prompt a re-examination of financial literacy, its social foundations, and its relationship to citizenship education. The collection includes topics that concern indigenous people’s perspectives, critical race theory, and transdisciplinary perspectives, which invite a dialogue about the ideologies that drive traditional and critical perspectives. This volume offers readers opportunities to learn about different views of financial literacy from a variety of sociological, historical and cultural perspectives. The reader may perceive financial literacy as representing a multifaceted concept best interpreted through a non-segregated lens. The volume includes chapters that describe groundings for revising standards, provide innovative teaching concepts, and offer unique sociological and historical perspectives. This book contains 13 chapters, with each one speaking to a distinctive topic that, taken as a whole, offers a well-rounded vision of financial literacy to benefit social education, its research, and teaching. Each chapter provides a response from an alternative view, and the reader can also access an eResource featuring the authors’ rejoinders. It therefore offers contrasting visions about the nature and purpose of financial education. These dissimilar perspectives offer an opportunity for examining different social ideologies that may guide approaches to financial literacy and citizenship, along with the philosophies and principles that shape them. The principles that teach and inform about financial literacy defines the premises for base personal and community responsibility. The work invites researchers and practitioners to reconsider financial literacy/financial education and its social foundations. The book will appeal to a range of students, academics and researchers across a number of disciplines, including economics, personal finance/personal economics, business ethics, citizenship, moral education, consumer education, and spiritual education.
Download or read book De Gruyter Handbook of Personal Finance written by John E. Grable and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-03-07 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: The De Gruyter Handbook of Personal Finance provides a robust review of the core topics comprising personal finance, including the primary models, approaches, and methodologies being used to study particular topics that comprise the field of personal finance today. The contributors include many of the world’s leading personal finance researchers, financial service professionals, thought leaders, and leading contemporary figures conducting research in this area whose work has shaped—and continues to affect—the way that personal finance is conceptualized and practiced. The first section of the handbook provides a broad introduction to the discipline of personal finance. The following two sections are organized around the core elements of personal finance research and practice: saving, investing, asset management, and financial security. The fourth section introduces future research, practice, and policy directions. The handbook concludes with a discussion on an educational and research agenda for the future. This handbook will be a core reference work for researchers, financial service practitioners, educators, and policymakers and an excellent supplementary source of readings for those teaching undergraduate and graduate-level courses in personal finance, financial planning, consumer studies, and household finance.
Download or read book The Influence of Financial Socialization on Young Adults written by Christina Elaine Glenn and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: College is a time when many young adults are beginning to make financial decisions on their own. The financial behaviors they engage in can have effects on their academic success, life satisfaction, relationship quality, physical and mental well-being, and financial well-being. This dissertation examined the direct and indirect relationships between financial socialization, financial knowledge, financial self-efficacy, and financial behaviors in college students using data from the 2014 National Student Financial Wellness Study (NSFWS). The sample consisted of 12,598 college students from 52 college institutions. Structural Equation Modeling (SEM) was conducted with the tested model guided by Gudmunson and Danes' (2014) Family Financial Socialization (FFS) conceptual framework. Results revealed financial socialization has a direct influence on financial knowledge, financial self-efficacy, and financial behaviors. An indirect association between financial socialization and financial behaviors through its association with financial self-efficacy was also found. Alternative models discovered neither parental financial socialization nor formal financial education alone impacted financial knowledge, but when combined, their influence became significant, suggesting a possible interaction effect between formal financial education and parental financial socialization. Objective financial knowledge was not found to influence financial self-efficacy or financial behaviors in college students. Results showed financial self-efficacy to be the strongest predictor of students engaging in positive financial behaviors. A one standard deviation increase in financial self-efficacy was associated with a 90% increase in the standard deviation of financial behavior. This study provides support and implications for the FFS conceptual framework. Financial counselors, advisors, and therapists can use these findings to educate their clients on the importance of financial socialization of their children. Furthermore, results reinforce the need for mandatory formal financial education and infer the importance of parents and educators working together to cultivate financial knowledge in children.
Download or read book The Routledge Handbook of Financial Literacy written by Gianni Nicolini and published by Routledge. This book was released on 2021-12-30 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Stop Leaving Money on the Table written by Jason M. Fields and published by AuthorHouse. This book was released on 2018-10-06 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a compact guide about the need for financial planning and future investment in the African American community within the United States. My aim is to provide information and advice about financial literacy, psychology, and the important need to budget and invest for the future. African Americans may be leaving their future down to chance if they do not fully understand the need for self-improvement in financial literacy. There should be an established financial education from an early age to help combat the poor choices that are often made because of this financial illiteracy. You cannot blame a community if the people were never offered any sound financial advice in the first place. Therefore, my wish is to represent and inform African Americans about the benefits of complete financial understanding.
Download or read book Financial Literacy for All written by John Hope Bryant and published by John Wiley & Sons. This book was released on 2024-04-16 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new approach to understanding money and achieving financial fulfillment Former Vice-Chairman of the U.S. President's Advisory Council on Financial Literacy, John Hope Bryant, delivers an accessible and powerful resource for everyday Americans seeking to build a strong financial foundation. This book is an easy-to-read first step toward a fulfilling financial future, helping you understand your relationship to work and money, and a key component to untangling the surprisingly simple puzzle of personal finance. With an insightful foreword by Doug McMillon, President and CEO of Walmart Inc., you'll learn how to create wealth for yourself and your family, regardless of your educational or employment background, and how to establish a financial mindset that contributes to a sound future. You'll also discover: The answers to tough money questions, including the actual utility of new financial inventions like cryptocurrency How to think about exchanging your time and effort for money and the conditions under which you should agree to work Plain-English discussions of the principles of responsible long-term investing and how it differs from speculation Acting as a critical pillar for those seeking to build a rock-solid financial foundation, Financial Literacy for All is a must-have book for working professionals, blue-collar workers, members of young families, and established businesspeople looking for a better, more secure future for themselves and the ones they care about.
Download or read book Islamic Finance written by Nadia Mansour and published by Springer Nature. This book was released on with total page 814 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Literacy and Education written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2008 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relationships Among Financial Literacy Financial Behaviors Financial Attitudes and Homeownership Within Low moderate Income Households in Los Angeles County written by Aliyu Ahmed and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores how financial literacy, financial capability, financial self-efficacy, and future time perspective affect the likelihood of low-moderate income (LMI) households in Los Angeles County owning a home and holding a mortgage. It draws on existing literature on financial literacy, financial capability, financial self-efficacy, future time perspective, and homeownership to develop a theoretical framework that identifies the factors that influence LMI households’ access to homeownership. Using secondary data merged from six surveys conducted by the University of Southern California (USC) Understanding America Study (UAS) from 2015 to 2022, it analyzes the relationships among financial literacy, financial behaviors, financial attitudes, and mortgage holding among 2,098 participants. The findings revealed significant positive associations between holding a mortgage and financial literacy, income, age, Hispanic ethnicity, and specific levels of educational attainment. However, financial self-efficacy, financial capability, and future time perspective did not demonstrate significant moderating effects in the relationship between financial literacy and holding a mortgage. The dissertation concludes that enhancing financial literacy among LMI households is crucial for increasing their access to homeownership and suggests possible interventions and policies for doing so.
Download or read book Financial Education and Capability written by Julie Birkenmaier and published by Oxford University Press. This book was released on 2013-02-21 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces the concept of financial capability and assembles the latest evidence from ground-breaking innovations with financially vulnerable families, and links it to education, policy, and practice. It is a key resource for those interested in improving financial education and financial products and services for low-income families.
Download or read book First Generation College Student Financial Literacy written by Chio Flores and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The findings provide a greater understanding of the components that influence the financial literacy level of first generation, low-income college students. Based on the study results, recommendations are made for the development of financial literacy education programs for students that address their stage in college, demographic and behavioral patterns.
