ERIC Number: EJ1279952
Record Type: Journal
Publication Date: 2020
Pages: 15
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
EISSN: N/A
Antecedents and Consequences of Using Social Media for Personal Finance
Cao, Yingxia; Gong, Fengmei; Zeng, Tong
Journal of Financial Counseling and Planning, v31 n1 p162-176 2020
This study was intended to find out whether social media could be a solution to improve personal financial literacy and ability. The authors examined the antecedents and consequences of using social media for personal finance with survey data from 359 individuals who used social media tools to view, learn, post, or ask for financial information or advice. They found that usefulness and compatibility were two reasons why people use social media for personal finance, while ease of use and concerns/risks were not. The study also revealed that social media use for personal finance were associated with positive financial outcomes and user satisfaction, which in turn prompted users' intentions to continue using social media for personal finance in the future. These findings suggested that social media could be a legitimate and fruitful source for individuals and financial industry to improve personal financial well-being.
Descriptors: Risk, Money Management, Social Media, Literacy, Computer Mediated Communication, Information Sources, Information Seeking, Well Being, Finance Occupations, Users (Information), Correlation, User Satisfaction (Information)
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A