Jing Jian Xiao|Barbara O’Neill
Consumer financial education and financial capability
University of Rhode Island|Virginia Cooperative Extension|Rutgers, The State University of New Jersey
abstract purpose study explore potential effects financial education financial capability american consumers data 2012 national financial capability study used test hypothesis financial education positively associated financial capability four financial literacy behaviour variables used form financial capability index multivariate linear regression results showed controlling demographic financial variables respondents ever received financial education higher scores financial capability indicators objective financial literacy subjective financial literacy desirable financial behaviour perceived financial capability financial capability index addition high school college workplace financial education variables showed positive associations financial capability indicators additional state comparison analyses provided evidence suggesting high school financial education may direct impacts spillover effects consumer financial capability