In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior
Data from the FINRA Foundation National Financial Capability Study revealed that women with low levels of financial literacy were more likely to engage in costly credit card behaviors—like incurring late and over-the-limit fees—than men with low financial literacy. There were, however, no difference...
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| Format: | Article |
| Language: | English |
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National Numeracy Network
2013-07-01
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| Series: | Numeracy |
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| Online Access: | http://scholarcommons.usf.edu/numeracy/vol6/iss2/art4/ |
| _version_ | 1819115978420649984 |
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| author | Gary R. Mottola |
| author_facet | Gary R. Mottola |
| author_sort | Gary R. Mottola |
| collection | DOAJ |
| description | Data from the FINRA Foundation National Financial Capability Study revealed that women with low levels of financial literacy were more likely to engage in costly credit card behaviors—like incurring late and over-the-limit fees—than men with low financial literacy. There were, however, no differences in behavior between men and women with high financial literacy. Further, women and low financial literacy respondents reported paying higher interest rates on their credit cards. These findings suggest that increasing financial literacy may help reduce some gender-based differences in credit card behavior and lower credit card interest rates for both men and women. |
| first_indexed | 2024-12-22T05:09:47Z |
| format | Article |
| id | doaj.art-b3a9bb17f482439bad3306cc911740f5 |
| institution | Directory Open Access Journal |
| issn | 1936-4660 |
| language | English |
| last_indexed | 2024-12-22T05:09:47Z |
| publishDate | 2013-07-01 |
| publisher | National Numeracy Network |
| record_format | Article |
| series | Numeracy |
| spelling | doaj.art-b3a9bb17f482439bad3306cc911740f52022-12-21T18:38:01ZengNational Numeracy NetworkNumeracy1936-46602013-07-01624http://dx.doi.org/10.5038/1936-4660.6.2.4In Our Best Interest: Women, Financial Literacy, and Credit Card BehaviorGary R. MottolaData from the FINRA Foundation National Financial Capability Study revealed that women with low levels of financial literacy were more likely to engage in costly credit card behaviors—like incurring late and over-the-limit fees—than men with low financial literacy. There were, however, no differences in behavior between men and women with high financial literacy. Further, women and low financial literacy respondents reported paying higher interest rates on their credit cards. These findings suggest that increasing financial literacy may help reduce some gender-based differences in credit card behavior and lower credit card interest rates for both men and women.http://scholarcommons.usf.edu/numeracy/vol6/iss2/art4/financial literacygendercredit cards |
| spellingShingle | Gary R. Mottola In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior Numeracy financial literacy gender credit cards |
| title | In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior |
| title_full | In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior |
| title_fullStr | In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior |
| title_full_unstemmed | In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior |
| title_short | In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior |
| title_sort | in our best interest women financial literacy and credit card behavior |
| topic | financial literacy gender credit cards |
| url | http://scholarcommons.usf.edu/numeracy/vol6/iss2/art4/ |
| work_keys_str_mv | AT garyrmottola inourbestinterestwomenfinancialliteracyandcreditcardbehavior |