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- Publisher
- Springer Journals
- Copyright
- Copyright © Springer Science+Business Media, LLC, part of Springer Nature 2019
- Subject
- Social Sciences; Sociology, general; Family; Personality and Social Psychology; Social Policy
- ISSN
- 1058-0476
- eISSN
- 1573-3475
- DOI
- 10.1007/s10834-019-09649-9
- Publisher site
- See Article on Publisher Site
Abstract
This study investigated the relationship between financial knowledge and financial well-being and included the moderating role of propensity to plan. This study used the Consumer Financial Protection Bureau’s measure of financial well-being as it explains consumers’ subjective sense of it. Results from the 2016 National Financial Well-Being Survey showed that financial knowledge and a propensity to plan were associated positively with financial well-being. This study also confirmed that the propensity to plan plays a moderating role that enhances the positive association between financial knowledge and financial well-being. Results from this study provide insights for financial practitioners, educators, and policymakers who help US households improve their financial well-being.
Journal
Journal of Family and Economic Issues – Springer Journals
Published: Jun 22, 2020