The Interaction of Financial Attitudes and Financial Knowledge: Evidence for Low-Income Hispanic Families

被引：6
作者：
Gill A. [1 ]
Bhattacharya R. [1 ]
机构：
[1] California State University at Fullerton, Fullerton, 92834, CA
来源：
Atlantic Economic Journal | 2017年 / 45卷 / 4期
关键词：
Financial attitudes; Financial knowledge; Financial outcomes; Interaction;
D O I：
10.1007/s11293-017-9556-4
中图分类号：
学科分类号：
摘要：
We add to the literature on the association of financial knowledge and financial attitudes with financial outcomes by focusing on predominantly low-income Hispanic families. We examine (i) saving for emergencies, for college, and in 401(k) plans, and (ii) ownership of a home, land or rental property, and an investment account. We find that financial knowledge is strongly related to our savings measures and to owning an investment account. Financial attitudes play less of a role, but assume some importance when interacted with financial knowledge. Self-reported financial knowledge in addition to factual financial knowledge is associated with favorable financial outcomes. Our results are important for the upward economic mobility of a demographic group that has received less attention in the literature. © 2017, International Atlantic Economic Society.
引用
收藏
页码：497 / 510
页数：13
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