Financial capability across generations and technology

Authors

  • Abeba Mussa aDepartment of Economics, Farmingdale State College, State University of New York
  • Meeghan Rogers Department of Business Management, Farmingdale State College, State University of New York
  • Xu Zhang aDepartment of Economics, Farmingdale State College, State University of New York

DOI:

https://doi.org/10.61190/fsr.v30i4.3164

Keywords:

Generational disparity, Tech-savvy, Financial capability

Abstract

Financial capability is critical for individuals to survive economic hardship. As the first attempt in the literature, our research explores how being technology savvy is relevant in explaining individ- uals’ short-term and long-term financial behavior. Specifically, we use the 2018 National Financial Capability Study (NFCS) to uncover the mixed roles of technology in personal financial manage- ment. Being technology savvy was consistently associated with less desired short-term financial behavior while positively related to good long-term financial behavior after controlling for individual financial constraints and other socio-economic variables. Moreover, our study demonstrates the gen- erational disparity of being technology savvy related to financial behavior.

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Published

2023-08-11

How to Cite

Mussa, A., Rogers, M., & Zhang, X. (2023). Financial capability across generations and technology. Financial Services Review, 30(4), 273–296. https://doi.org/10.61190/fsr.v30i4.3164

Issue

Vol. 30 No. 4 (2022): Winter 2022

Section

New Original Submission

License

Copyright (c) 2022 Abeba Mussa, Meeghan Rogers, Xu Zhang

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