Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study
This study examines the relationships between financial knowledge, confidence, learning capacity, education and other sociodemographic information and financial behavior. A structural equation model is used to analyze the relationships between the study variables and to obtain a more comprehensive u...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2022-12-01
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| Series: | Cogent Social Sciences |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1080/23311886.2021.1996919 |
| _version_ | 1819364537809240064 |
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| author | Tania Morris Stephanie Maillet Vivi Koffi |
| author_facet | Tania Morris Stephanie Maillet Vivi Koffi |
| author_sort | Tania Morris |
| collection | DOAJ |
| description | This study examines the relationships between financial knowledge, confidence, learning capacity, education and other sociodemographic information and financial behavior. A structural equation model is used to analyze the relationships between the study variables and to obtain a more comprehensive understanding of the factors linked to poor financial behavior among a large Canadian sample. The main findings showed that financial confidence plays a crucial role in explaining financial behavior and that learning capacity explains financial confidence. Overall, our results suggest that financial education should be considerably improved and that additional focus should be placed on financial confidence and individual’s learning capacity in order to mitigate existing financial difficulties, prevent new problems from arising, and develop and implement constructive strategies to achieve specific financial goals. This study contributes to previous research on financial literacy by demonstrating the influence of learning capacity on financial confidence and financial behavior. |
| first_indexed | 2024-12-24T23:00:31Z |
| format | Article |
| id | doaj.art-83d7b8c9b65d4b8ca7dfe9667741adf7 |
| institution | Directory Open Access Journal |
| issn | 2331-1886 |
| language | English |
| last_indexed | 2024-12-24T23:00:31Z |
| publishDate | 2022-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Social Sciences |
| spelling | doaj.art-83d7b8c9b65d4b8ca7dfe9667741adf72022-12-21T16:35:09ZengTaylor & Francis GroupCogent Social Sciences2331-18862022-12-018110.1080/23311886.2021.19969191996919Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian studyTania Morris0Stephanie Maillet1Vivi Koffi2Université De MonctonUniversité De MonctonUniversité De MonctonThis study examines the relationships between financial knowledge, confidence, learning capacity, education and other sociodemographic information and financial behavior. A structural equation model is used to analyze the relationships between the study variables and to obtain a more comprehensive understanding of the factors linked to poor financial behavior among a large Canadian sample. The main findings showed that financial confidence plays a crucial role in explaining financial behavior and that learning capacity explains financial confidence. Overall, our results suggest that financial education should be considerably improved and that additional focus should be placed on financial confidence and individual’s learning capacity in order to mitigate existing financial difficulties, prevent new problems from arising, and develop and implement constructive strategies to achieve specific financial goals. This study contributes to previous research on financial literacy by demonstrating the influence of learning capacity on financial confidence and financial behavior.http://dx.doi.org/10.1080/23311886.2021.1996919financial knowledgefinancial confidencelearning capacityfinancial behaviorfinancial literacycanada |
| spellingShingle | Tania Morris Stephanie Maillet Vivi Koffi Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study Cogent Social Sciences financial knowledge financial confidence learning capacity financial behavior financial literacy canada |
| title | Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study |
| title_full | Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study |
| title_fullStr | Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study |
| title_full_unstemmed | Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study |
| title_short | Financial knowledge, financial confidence and learning capacity on financial behavior: a Canadian study |
| title_sort | financial knowledge financial confidence and learning capacity on financial behavior a canadian study |
| topic | financial knowledge financial confidence learning capacity financial behavior financial literacy canada |
| url | http://dx.doi.org/10.1080/23311886.2021.1996919 |
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