Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for...

This research analyzed Financial Literacy among University lecturers. A sample of 132academics were selected from the largest university in the national university system in Sri Lanka to collect data using a structured questionnaire, consisting of 44 questions. Main objective of the study was to...

The concept of financialization has emerged as a powerful vehicle for framing questions related to the effects on nations, corporations and households of increasingly complex financial arrangements and narratives. This paper will explore the ways in which (in)equities of health, education,...

Complex mortgages became a popular borrowing instrument during the bullish housing market of the early 2000s but vanished rapidly during the subsequent downturn. These non-traditional loans, including interest-only and negative-amortization loans, enable households to postpone loan repayment in...

This study investigates the financial self-assessments and households' well-being using a national survey of 2,567 households in Turkey. We use Maslow's hierarchy of needs framework through households' views for their ability to meet current living expenses in the short-term as well as their...

This paper uses a simple model based on the board game Monopoly to analyze the drivers of house prices and wealth inequality. Simulations show that the inequality depends on the timing and distribution of home ownership, house price growth and wage growth. An extension of the classical game with...

Using data from the Health and Retirement Study and the Survey of Consumer Finances, we show that households that experience adverse financial shocks worry more about the adequacy of their financial resources in retirement, even after controlling for the effects of these shocks on overall...

Complex mortgages exhibit deferred amortization and enable households to postpone loan repayment in contrast to fully amortizing traditional mortgages. Unlike the low income population targeted by subprime mortgages, complex mortgages are used by households with high income levels and prime...

This study quantifies financial well-being and its determinants, including financial literacy, in Romania. It addresses the main factors driving the low levels of financial inclusion and the inter-dependence between financial system development and financial education. To uncover what...

Globalisation has a major impact on the levels and distribution of wealth. The financial markets are highly integrated, and valuations of financial assets follow international patterns, which has contributed to large increases in financial wealth over the past 25 years. Nonetheless, this has not...