Original paper
Financial Literacy among the Young
Abstract
We examined financial literacy among the young using the most recent wave of the 1997 National Longitudinal Survey of Youth. We showed that financial literacy is low; fewer than one‐third of young adults possess basic knowledge of interest rates, inflation and risk diversification. Financial literacy was strongly related to sociodemographic characteristics and family financial sophistication. Specifically, a college‐educated male whose parents...
Paper Details
Title
Financial Literacy among the Young
Published Date
Jun 1, 2010
Journal
Volume
44
Issue
2
Pages
358 - 380
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Notes
History