The relationship between objective financial knowledge, financial management, and financial self-efficacy among African American students
DOI:
https://doi.org/10.61190/fsr.v29i3.3455Keywords:
Financial self- efficacy, Financial management, Financial knowledge, Financial literacy, African AmericanAbstract
Research consistently shows the positive associations of objective financial knowledge, man- agement, and self-efficacy on college students’ financial literacy. However, there is a need for a more nuanced examination of the factors contributing to African American college students’ fi- nancial literacy. Using the National Student Financial Wellness Study and structural equation modeling, findings suggest that for African American students, objective financial knowledge is not directly or indirectly associated with financial self-efficacy. Only financial management is significantly associated with increased financial self-efficacy. These findings indicate that expe- riential learning may be effective for improving African American students’ financial literacy.
Downloads
Downloads
Published
Issue
Section
License
Copyright (c) 2021 Academy of Financial Services
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Author(s) retain the copyright and full publishing rights without restriction.
Author(s) grant the Journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows reusers to distribute, remix, adapt, and build upon the material in any medium or format, for noncommercial purposes only. Reusers must acknowledge the work's authorship and initial publication in this Journal.
Noncommercial means not primarily intended for or directed towards commercial advantage or monetary compensation.
In addition, FSR grants to the UGA Libraries a worldwide, non-exclusive license to all content published by the Journal, including metadata, that is necessary to publish, transmit, and index the Journal and to preserve its content over time.
