Testing the Role of Parental Debt Attitudes, Student Income, Dependency Status, and Financial Knowledge Have in Shaping Financial Self-Efficacy among College Students

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  • Additional Information
    • Availability:
      Project Innovation, Inc. P.O. Box 8508 Spring Hill Station, Mobile, AL 36689-0508. Tel: 251-343-1878; Fax: 251-343-1878; Web site: http://www.projectinnovation.biz/csj.html
    • Peer Reviewed:
      Y
    • Source:
      14
    • Education Level:
      Higher Education
    • Subject Terms:
      Self Efficacy; Income; College Students; Debt (Financial); Money Management; Role; Parent Attitudes; Correlation; Questionnaires; Knowledge Level
    • ISSN:
      0146-3934
    • Abstract:
      This study was designed to evaluate the determinants of personal finance knowledge among college students and to test how this knowledge affects students' perceived self-efficacy beliefs in dealing with personal financial issues. In this study, a test of parental attitudes towards debt, students' income level, and dependency status related to levels of personal finance knowledge was conducted. The relationship between personal finance knowledge and self-efficacy was then examined. A questionnaire measuring these variables was completed by 80 participants at a Midwestern U.S. university. A significant positive relationship between level of income and personal finance knowledge was found. It was also noted that financial knowledge was significantly positively associated with self-efficacy. Students who were more knowledgeable had higher levels of self-efficacy. (Contains 1 table and 2 figures.)
    • Abstract:
      As Provided
    • Number of References:
      21
    • Publication Date:
      2013
    • Accession Number:
      EJ996348