Knowledge Tree
financial knowledge
Facts (26)
Sources
An Exploratory Study of the Wealthy's Investment Beliefs ... financialplanningassociation.org Mar 1, 2025 7 facts
referenceThe FINRA Investor Education Foundation (2022) found that being male and older are characteristics associated with higher perceptions of one's own financial knowledge.
claimHigh-net-worth individuals tend to report significantly higher levels of self-assessed financial knowledge, according to Klontz et al. (2015).
referenceS. D. Hanna, K. T. Kim, S. Lindamood, and S. T. Lee published 'Husbands, Wives, and Financial Knowledge in Wealthy Households' in the Financial Planning Review in 2021.
claimHigh-net-worth individuals are no less likely to avoid investment mistakes than affluent individuals, despite having higher levels of self-assessed financial knowledge.
claimHigh-net-worth respondents indicated higher levels of interest in building financial knowledge compared to the affluent cohort.
claimHigh-net-worth respondents were more likely to indicate higher levels of subjective financial knowledge compared to the affluent cohort.
referenceHigh-net-worth individuals indicate higher levels of self-assessed financial knowledge, a finding that aligns with existing literature by Klontz et al. (2015).
Financial knowledge and decision-making skills consumerfinance.gov Dec 12, 2024 6 facts
claimStrong financial knowledge and decision-making skills assist individuals in weighing options for financial situations, including deciding when to save or spend, comparing costs before major purchases, and planning for retirement or long-term savings.
claimThe development of financial knowledge and decision-making skills typically does not occur until adolescence and young adulthood.
claimFinancial knowledge and decision-making skills enable individuals to make informed financial decisions by utilizing problem-solving, critical thinking, and an understanding of key financial concepts.
procedureSchools can help youth develop financial knowledge and decision-making skills by providing opportunities to practice financial behaviors, make financial decisions, and reflect on the outcomes and consequences of those decisions.
claimLearning activities designed to nurture financial knowledge and decision-making should support the acquisition of factual knowledge, research and analysis skills, and deliberate financial decision-making.
claimFinancial knowledge and decision-making skills become increasingly relevant during adolescence and young adulthood, particularly for youth who begin earning money, making independent purchases, managing bank accounts, or borrowing for education.
The Psychological Drivers of Financial Decision-Making - ijsrm ijsrm.net 4 facts
claimTang and Baker (2016) examine the relationship between self-esteem, financial knowledge, and financial behavior.
referenceAlam and Siddiqui (2021) assert that financial knowledge and personal saving orientation influence money management stress and financial security, with materialism and self-efficacy playing a complementary role mediated by the willingness to take risk.
claimAlam and Siddiqui (2021) assert that financial knowledge and personal saving orientation affect money management stress and financial security, which in turn influence wellbeing and positive financial behavior, with materialism and self-efficacy playing a complementary role mediated by the willingness to take risk.
referenceTang and Baker (2016) examine the relationship between self-esteem, financial knowledge, and financial behavior.
Examining Behavioural Aspects of Financial Decision Making - OUCI ouci.dntb.gov.ua 3 facts
claimThe study by Jairo Stefano Dote Pardo (2025) found that attitudes towards saving and financial knowledge have a positive direct impact on the saving intentions of Generation Z university students in Vietnam, with attitude having the stronger impact.
referenceRai K., Dua S., and Yadav M. utilized a structural equation modeling approach to analyze the association between financial attitude, financial behavior, and financial knowledge in their 2019 study.
referenceDwiastanti A. authored the article 'Analysis of financial knowledge and financial attitude on locus of control and financial management behavior', published in Management and Business Review in 2017.
Analysing the behavioural, psychological, and demographic ... - OUCI ouci.dntb.gov.ua 3 facts
referenceJohnson's research, 'The impact of financial attitudes and knowledge on financial management and satisfaction of recently married individuals', analyzes how financial attitudes and knowledge affect the financial management and satisfaction of newlyweds.
claimMette investigated the role of materialism, impulsivity, and financial knowledge as explanatory mechanisms for the decision to buy on credit.
referenceRai's study, 'Association of financial attitude, financial behaviour and financial knowledge towards financial literacy: a structural equation modeling approach', uses structural equation modeling to examine the relationship between financial attitude, behavior, knowledge, and literacy.
Financial Literacy: The Guide to Managing Your Money - Annuity.org annuity.org 1 fact
measurement70% of people with disabilities perceive their financial knowledge positively, compared to an 81% national average, according to a study by the National Disability Institute and FINRA.
Influence of behavioral biases on investment decisions. The ... revistas.usc.gal 1 fact
claimIndividuals with higher levels of financial knowledge exhibit a lower presence of cognitive biases in their investment decisions.
Biases in Behavioral Finance - World Scholars Review worldscholarsreview.org Sep 15, 2024 1 fact
claimFinancial knowledge and experience do not affect the rate of herding bias among investors.