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Author: Mitchell, Olivia S.
Resulting in 1 citation.
1. Lusardi, Annamaria
Mitchell, Olivia S.
Curto, Vilsa
Financial Literacy Among the Young
Journal of Consumer Affairs 44,2 (Summer 2010): 358-380.
Cohort(s): NLSY97
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Assets; College Education; Educational Attainment; Family Income; Financial Investments; Financial Literacy; Gender Differences; High School Dropouts; Wealth

Permission to reprint the abstract has not been received from the publisher.

We examined financial literacy among the young using the most recent wave of the 1997 National Longitudinal Survey of Youth. We showed that financial literacy is low; fewer than one-third of young adults possess basic knowledge of interest rates, inflation and risk diversification. Financial literacy was strongly related to sociodemographic characteristics and family financial sophistication. Specifically, a college-educated male whose parents had stocks and retirement savings was about 45 percentage points more likely to know about risk diversification than a female with less than a high school education whose parents were not wealthy. [ABSTRACT FROM AUTHOR]

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Bibliography Citation
Lusardi, Annamaria, Olivia S. Mitchell and Vilsa Curto. "Financial Literacy Among the Young." Journal of Consumer Affairs 44,2 (Summer 2010): 358-380.