Sam Allgood|William B. Walstad
The Effects of Perceived and Actual Financial Knowledge on Credit Card Behavior
University of Nebraska–Lincoln|University of Nebraska–Lincoln
study uses combined measure financial literacy financial knowledge includes test score actual financial knowledge selfassessment overall financial knowledge combined measure provides greater understanding financial knowledge affects financial behavior study uses large national survey us adults households n28146 investigate financial knowledge affects typical behaviors related credit card use five behaviors include paying credit card balances time carrying balance paying interest making minimum payment credit card charged late fee going credit card limit results probit analysis show actual financial knowledge perceived financial knowledge significantly influence credit card behavior