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Psychosocial factors and financial literacy.

Year: 2013

Type: article

Abstract: This study uses data from the Health and Retirement Study (HRS) to analyze the psychological and social variables associated with financial literacy. The HRS is a nationally representative longitudinal survey of individuals older than age 50 and their spouses. An ordinary least squares linear regression analysis explores the relationship between financial literacy and several economic and psychosocial variables. After controlling for earnings, level of education, and other socioeconomic variables in this exploratory study, I find that financial satisfaction and religiosity are correlated with financial literacy.

Source: PubMed

Author: John L Murphy

Institutions: United States Social Security Administration, Government of the United States of America

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2164881400

FWCI: 2.198

Cites: 37

Cited by: 40

Related to: 10