Financial Knowledge and Household Saving
Evidence from the Survey of Consumer Finances
Bibliographic Data
| ID | 6061989 |
|---|---|
| Authors | Kyoung Tae Kim (0000-0002-0673-721X, University of Alabama, corresponding author), Yoonkyung Yuh (Ewha Womans University) |
| Year | 2018 |
| Volume | 47 |
| Issue | 1 |
| Pages | 5-24 |
| Publication date | 2018-09-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Family and Consumer Sciences Research Journal (JOURNAL) |
| Journal identifiers | ISSN: 1077-727X • E-ISSN: 1552-3934 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/fcsr.12270 |
| OpenAlex | W2891446319 |
| Language | EN |
| Citations received | 4 |
| References cited | 28 |
This study analyzed the relationship between financial knowledge and household saving behavior using the 2016 Survey of Consumer Finances (SCF) dataset. The results from a hierarchical model showed that both objective knowledge and perceived financial knowledge were positively related to the likelihood of being a saver. The explanatory power of the regression models increased significantly when financial knowledge variables were added. Furthermore, the results were robust across different measurements of household savings and additional analyses using the 2015 National Financial Capability Study (NFCS) dataset. Educators, policymakers, and financial institutions can benefit from these results as they develop programs, policies, and products to motivate and promote saving behavior
Business · Economics · Explanatory power · Multilevel model · Regression analysis · Survey data collection · Computer Science · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Microfinance and Financial Inclusion · Finance
Saving behavior in adulthood and early financial learning as a facilitator of saving habits
The association between subjective and objective financial knowledge
Association between Financial Education, Affective and Cognitive Financial Knowledge, and Financial Behavior
The Influence of Financial Education Sources on Emergency Savings
The Effects of Perceived and Actual Financial Literacy on Financial Behaviors
Baby Boomer retirement security
Financial Literacy and Planning
Financially Fragile Households
Financial Knowledge of the Low-income Population
Effect of saving motives and horizon on saving behaviors
An Economic Theory of Self-Control
Financial Literacy
How Do Distrust and Anxiety Affect Saving Behavior
Income Uncertainty and Household Saving in the United States
Exploring the Relationship of Economic, Sociological, and Psychological Factors to the Savings Behavior of Low‐ to Moderate‐Income Households
Financial Literacy, Portfolio Choice and Financial Well-Being
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,8 |
| Citation span | 2021 - 2026 (6) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |