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The Connection Between Financial Literacy And Numeracy: A Case Study From India, J.D Jayaraman, Saigeetha Jambunathan, Kenneth Counselman
The Connection Between Financial Literacy And Numeracy: A Case Study From India, J.D Jayaraman, Saigeetha Jambunathan, Kenneth Counselman
Numeracy
Making financial decisions involves mathematical calculations, both simple and complex. It is a well-documented fact that financial literacy levels among young people all over the world are quite low and that these low levels contribute to various undesirable outcomes with respect to personal financial well-being and the economy as a whole. This study explores the relationship between financial literacy and numeracy by measuring and modeling the relationship between financial literacy and numeracy levels among high school students (N = 586) in India. The results show a strong relationship between numeracy and financial literacy skills. Low numeracy is associated with …
Numeracy, Financial Literacy, And Financial Decision-Making, Annamaria Lusardi
Numeracy, Financial Literacy, And Financial Decision-Making, Annamaria Lusardi
Numeracy
Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for …
Quantitative Literacy At Michigan State University, 2: Connection To Financial Literacy, Dennis Gilliland, Vince Melfi, Alla Sikorskii, Edward Corcoran, Eleanor Melfi
Quantitative Literacy At Michigan State University, 2: Connection To Financial Literacy, Dennis Gilliland, Vince Melfi, Alla Sikorskii, Edward Corcoran, Eleanor Melfi
Numeracy
The lack of capability of making financial decisions has been recently described for the adult United States population. A concerted effort to increase awareness of this crisis, to improve education in quantitative and financial literacy, and to simplify financial decision-making processes is critical to the solution. This paper describes a study that was undertaken to explore the relationship between quantitative literacy and financial literacy for entering college freshmen. In summer 2010, incoming freshmen to Michigan State University were assessed. Well-tested financial literacy items and validated quantitative literacy assessment instruments were administered to 531 subjects. Logistic regression models were used to …
Four Popular Books On Consumer Debt: A Context For Quantitative Literacy, Andrew J. Miller
Four Popular Books On Consumer Debt: A Context For Quantitative Literacy, Andrew J. Miller
Numeracy
The topics of credit cards, mortgages, subprime lending, and fringe banking are rich sources of problems and discussions for classes focused on quantitative literacy. In this theme book review, we look at four recent books on the consumer debt industry: Credit Card Nation, by Robert Manning; Maxed Out, by James Scurlock; Collateral Damaged, by Charles Geisst; and Broke, USA, by Gary Rivlin. Credit Card Nation takes a scholarly look at the history of credit in America with a focus on the genesis and growth of the credit card industry up to the turn of the 20th century. Maxed Out also …