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
相关论文
共 29 条
  • [21] Song H., Elliott W., The effects of parents’ college savings on college expectations and hispanic youth's four-year college attendance, Children and Youth Services Review, 34, 9, pp. 1845-1852, (2012)
  • [22] Census Bureau U.S., Table B19113I, Median family income for California for past 12 months universe: families with a householder who is Hispanic or Latino, 2013 American Community Survey 1-Year Estimates, (2012)
  • [23] Census Bureau U.S., Table 14, Home ownership rates for the U.S. Homeownership Rates for the U.S. and Regions: 1964 to Present, (2012)
  • [24] Census Bureau U.S., Table B25003I, (2012)
  • [25] Census Bureau U.S., Current Population Survey, 2012 Annual Social and Economic Supplement, (2012)
  • [26] Census Bureau U.S., Table F1, Family Households, by Type, Age of Own Children, Age of Family Members, and Age, Race and Hispanic Origin of Householder, 2012, (2012)
  • [27] U.S. Department of Health and Human Services, (2012)
  • [28] Van Campenhout G., Revaluing the role of parents as financial socialization agents in youth financial literacy programs, The Journal of Consumer Affairs, 49, 1, pp. 186-222, (2015)
  • [29] Van Rooij M., Lusardi A., Alessie R., Financial literacy and stock market participation, Journal of Financial Economics, 101, 2, pp. 449-472, (2011)
123