Which spouse is more knowledgeable about the household's finances in mixed‐sex married couple households? The answer to this question can be inferred from the Survey of Consumer Finances (SCF), which assigns the title of “respondent” to the person the household indicates is more...

Which spouse is more knowledgeable about the household’s finances in mixed-sex married couple households? The answer to this question can be inferred from the Survey of Consumer Finances (SCF), which assigns the title of “respondent” to the person the household indicates is more...

Early distributions from retirement accounts could endanger future retirement income security, and the U.S. has restrictions to discourage them, including possible tax penalties. On the other hand, tapping one's retirement assets may be rational when an individual encounters financial hardship....

This study explores financial knowledge patterns from 2009 to 2018, focusing on objective and subjective knowledge, overconfidence in financial knowledge, and “Don’t know” responses. We used four waves of National Financial Capability Study (NFCS) datasets. Objective financial knowledge...

We examined the association between financial knowledge overconfidence and the perception of emergency fund needs using the 2016 Survey of Consumer Finances (SCF) dataset. Only 28% of respondents reported a perceived amount of emergency funds needed that would cover at least 3 months of...

Analyses of the 2016 Survey of Consumer Finances (SCF) dataset found that 33% of households had comprehensive financial assets (excluding retirement funds) sufficient to cover 3 months of spending. We conducted a hierarchical model and found that objective literacy (score on a financial...

Early distributions from retirement accounts could endanger future retirement income security, and the U.S. has restrictions to discourage them, including possible tax penalties. On the other hand, tapping one's retirement assets may be rational when an individual encounters financial hardship....

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...