This study analyzed the relation between financial knowledge and household saving behavior using the 2016 Survey of Consumer Finances (SCF) dataset. The results from a hierarchical model showed that both objective and perceived financial knowledge were related positively to the likelihood of...

Cryptocurrency has been increasingly popular with investors in US financial market. Using the 2018 National Financial Capability Study Investor survey, this study examined the association between investment literacy and cryptocurrency investment. About 13% of investors invested in cryptocurrency...

This study used data from the 2015 National Financial Capability Study to analyze the adoption of mobile payments by U.S. households. While 24% of respondents used mobile payments, the mean rate for those under age 25 was 11 times the rate for those 65 and older. State rates ranged from about 9%...

It has been well established in the literature that financial advice leads to informed decision‐making and improved financial outcomes. However, there is limited evidence regarding the link between financial planner use and attitudes toward retirement saving. As financial planners provide...

We analyzed factors related to the financial risk tolerance of Chinese households, using the 2011 China Household Finance Survey (CHFS). The risk tolerance question was similar to one in the U.S. Survey of Consumer Finances (SCF), and we found that CHFS respondents had slightly higher risk...

We tested whether Asian American parents place more importance on helping their children with college costs than parents with other racial/ethnic groups. Our logistic regression controlling for household characteristics shows that among households with at least one child age 13 to 17, Asian...

This study investigated the effect of objective and subjective financial literacy on mortgage payment delinquency using the 2015 National Financial Capability Study dataset. A hierarchical model showed a substantial negative effect of objective literacy on delinquency, but subjective literacy...

It has been well established in the literature that financial advice leads to informed decision making and improved financial outcomes. However, there is limited evidence regarding the link between financial planner use and attitudes towards retirement saving. As financial planners provide...