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Title: Self-control, Financial Literacy, and the Financial Behaviors of Young Adults
Resulting in 1 citation.
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Letkiewicz, Jodi C. |
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Self-control, Financial Literacy, and the Financial Behaviors of Young Adults Ph.D. Dissertation, The Ohio State University, 2012 Cohort(s): NLSY97 Publisher: ProQuest Dissertations & Theses (PQDT) Keyword(s): Assets; Debt/Borrowing; Financial Literacy; Personality/Ten-Item Personality Inventory-(TIPI); Self-Regulation/Self-Control Permission to reprint the abstract has not been received from the publisher. The objective of this study is to determine whether financial literacy is able to moderate the effects of self-control on financial outcomes. Financial literacy is an oft cited solution to the myriad financial complexities faced by consumers. If financial literacy is effective it should help consumers overcome issues of self-control to encourage more fiscally responsible behaviors. Both economic and psychological theories of self-control are explored, and a conceptual model using the Big Five personality trait of conscientiousness as a measure of self-control is utilized. Data for this study come from the 1997 National Longitudinal Survey of Youth (NLSY) and the sample used in the study is comprised of 5,892 respondents. The measure of conscientiousness was collected in Round 13 as part of the Ten-Item Personality Inventory (TIPI). Financial literacy was assessed using three questions, collected in Round 11, on compounding interest, inflation, and stock risk. The five dependent variables modeled in this study are net worth, illiquid assets, liquid assets, credit card debt, and negative financial events. Multivariate linear and logistic regressions are used to analyze the data and an interaction term (financial literacy*conscientiousness) is used to test for moderating effects. |
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Bibliography Citation
Letkiewicz, Jodi C. Self-control, Financial Literacy, and the Financial Behaviors of Young Adults. Ph.D. Dissertation, The Ohio State University, 2012. |