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Full-Text Articles in Business
Association Between Financial Education, Affective And Cognitive Financial Knowledge, And Financial Behaviors, Lucy M. Delgadillo, Yoon Lee
Association Between Financial Education, Affective And Cognitive Financial Knowledge, And Financial Behaviors, Lucy M. Delgadillo, Yoon Lee
Applied Sciences, Technology and Education Faculty Publications
Using data from the 2018 National Financial Capability Study, this paper examined the relationship between financial education participation and affective and cognitive financial knowledge. Involvement in financial education yielded statistically significant associations between affective and cognitive domains. The results showed that participation in financial education was associated with both cognitive and affective financial knowledge as well as long-term financial behaviors. The findings supported the case for life-long learning of financial education for young adults, Blacks and Hispanics, and women. One important implication was the need to include both the affective and cognitive domains when teaching or researching financial education.
Investigating Financial Biases That Can Increase Impact On Paying Bills And Saving, Lucy M. Delgadillo
Investigating Financial Biases That Can Increase Impact On Paying Bills And Saving, Lucy M. Delgadillo
Applied Sciences, Technology and Education Faculty Publications
This article explores financial biases and their relation to financial management behaviors. Using cognitive, evolutionary psychology, and behavioral finance theories, this study suggests that biases can be intentionally used to our benefit. The study shows statistically significant associations between some biases and financial management practices such as paying bills on time and saving regularly in the surveyed sample. The study provides insights into intentionally using financial biases to increase impact and success by helping individuals commit to the best course of action or choose the least costly financial alternative.