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Kim, Kyoung Tae; Lee, Jae Min; DeVaney, Sharon A. – Journal of Financial Counseling and Planning, 2022
This study explores the association between financial knowledge and financial fragility. Data from the 2015 National Financial Capability Study were used to create an index of financial fragility. Relationships between this index and three different measures of financial knowledge were assessed. To mitigate potential endogeneity in the financial…
Descriptors: Money Management, Knowledge Level, Social Influences, Neighborhoods
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Shin, Su Hyun; Kim, Kyoung Tae – Journal of Financial Counseling and Planning, 2018
Using the 2007-2009 Survey of Consumer Finances panel dataset, we investigate whether and how changes in perceived income and saving motives are related to demand for household savings in the United States after the Great Recession. Households that perceive their current income as lower, relative to normal years are less likely to save than those…
Descriptors: Money Management, Economic Climate, Role, Family Income