Social and Behavioral Sciences Commons^™

Financial Literacy: A Growing Concern In Modern Society, Sonia Marcolin, Anne Abraham

Faculty of Commerce - Papers (Archive)

This paper highlights the ongoing need for financial literacy research in a rapidly changing society with deregulated markets, new financial products, .ready availability of credit and an emphasis on self-reliance. A discussion of the importance of financial literacy for both individuals and the economy is followed by a review of studies conducted in Australia, the United States and the United Kingdom. The studies are compared and analysed to determine areas of both commonality and inconsistency. As a result of this analysis, the paper presents recurrent themes that could be extended, together with potential new areas for financial literacy research.