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Financial Management Knowledge of the Low-Income Population
- Source :
- Journal of Social Service Research. 33:93-106
- Publication Year :
- 2006
- Publisher :
- Informa UK Limited, 2006.
-
Abstract
- While financial management programs for the low-income population have developed in recent years, little is known about financial knowledge levels of participants in these programs. This study examines pre-training financial knowledge and related participant characteristics among participants in one large financial management training program for low-income people. Results indicate that knowledge deficiencies exist on basic financial management issues, especially with respect to public and work-related benefits and savings and investing. Results from regression analyses also indicate that participants' education, English proficiency, race/ethnicity and banking experience are among the factors associated with financial knowledge levels. Policy and practice implications for developing effective financial management training for low-income audiences are discussed.
Details
- ISSN :
- 15407314 and 01488376
- Volume :
- 33
- Database :
- OpenAIRE
- Journal :
- Journal of Social Service Research
- Accession number :
- edsair.doi...........18a6fbd687d3f78955d4f1e8b99f529d