This main objective of this study is the measurement of financial literacy in college students from Mexico and Colombia, using an instrument that was designed based on the available literature review and which was applied to a sample of 224 students. It was possible to find slight differences between the two countries, but the results as a whole…

This study tests whether risk tolerance mitigates the effects of credit card mismanagement on users' financial satisfaction. We used data from the Health and Retirement Study and found results showing that credit card mismanagement reduces the financial satisfaction of lower-risk-tolerance users only. The results also suggest that the psychic…

The purpose of this study is to describe the actions taken by college students to face their future retirement. For this, the test designed by the National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) in Mexico was used, which has items related to financial knowledge, specifically topics about savings, emergency…

The federal government spends an estimated $273 million annually on financial literacy1 and education programs and activities across 23 federal agencies and entities. These programs are designed to educate Americans about a wide array of financial literacy and education topics. However, in 2012, the Government Accountability Office (GAO) issued a…

The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally…

The near-collapse of the American financial system has led to a search for its causes and ways to prevent it from happening again. Many political leaders blame at least some of the sub-prime mortgage crisis on mistakes caused by financially "illiterate" consumers and propose to solve that problem with mandatory classes in personal finance.…

Today's increasingly complex financial services market offers consumers a vast array of products, services, and providers to choose from to meet their financial needs. While this degree of choice provides consumers with a great number of options, it also requires that they be equipped with the information, knowledge, and skills to evaluate their…

There are numerous financial planning and money management handbooks, but few focus on the needs of young adults between 16 and 25 years of age. Colleges and some high schools are increasingly offering courses covering money management, but the materials are more "economics-focused" than "real-world" focused. Young people are huge consumers who…

This article describes a calculus project that exposes students to the concept of retirement annuities in both the saving and withdrawal phases, via revenue streams represented by integrals. Students use modeling skills to solve several related problems as the assumptions of the original problem are changed, and the project requires them to use a…