Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy
Recent years have brought a gradual shift of responsibility for pension provisions, financial planning, health care and various insurances from governmental institutions and firms to individuals. To tackle this challenge, individuals need applied financial literacy and not merely theoretical knowled...
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Online Access: | http://dx.doi.org/10.1111/ecno.12110 https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fecno.12110 https://onlinelibrary.wiley.com/doi/pdf/10.1111/ecno.12110 |
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crwiley:10.1111/ecno.12110 2024-09-15T18:13:39+00:00 Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy Oehler, Andreas Horn, Matthias Wendt, Stefan Reisch, Lucia A. Walker, Thomas J. 2017 http://dx.doi.org/10.1111/ecno.12110 https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fecno.12110 https://onlinelibrary.wiley.com/doi/pdf/10.1111/ecno.12110 en eng Wiley http://onlinelibrary.wiley.com/termsAndConditions#vor Economic Notes volume 47, issue 2-3, page 305-330 ISSN 0391-5026 1468-0300 journal-article 2017 crwiley https://doi.org/10.1111/ecno.12110 2024-08-13T04:17:14Z Recent years have brought a gradual shift of responsibility for pension provisions, financial planning, health care and various insurances from governmental institutions and firms to individuals. To tackle this challenge, individuals need applied financial literacy and not merely theoretical knowledge about financial products and mechanisms that does not reflect real‐life situations. We survey 448 business students in Canada, Denmark, Germany and Iceland to examine how financial literacy is expressed in their financial portfolios. We contrast these findings with the respondents' own expectations and needs. The results show that most respondents exhibit good financial literacy as well as a realistic assessment of risk and return and their impact on (financial) well‐being. Article in Journal/Newspaper Iceland Wiley Online Library Economic Notes 47 2-3 305 330 |
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Wiley Online Library |
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English |
description |
Recent years have brought a gradual shift of responsibility for pension provisions, financial planning, health care and various insurances from governmental institutions and firms to individuals. To tackle this challenge, individuals need applied financial literacy and not merely theoretical knowledge about financial products and mechanisms that does not reflect real‐life situations. We survey 448 business students in Canada, Denmark, Germany and Iceland to examine how financial literacy is expressed in their financial portfolios. We contrast these findings with the respondents' own expectations and needs. The results show that most respondents exhibit good financial literacy as well as a realistic assessment of risk and return and their impact on (financial) well‐being. |
format |
Article in Journal/Newspaper |
author |
Oehler, Andreas Horn, Matthias Wendt, Stefan Reisch, Lucia A. Walker, Thomas J. |
spellingShingle |
Oehler, Andreas Horn, Matthias Wendt, Stefan Reisch, Lucia A. Walker, Thomas J. Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy |
author_facet |
Oehler, Andreas Horn, Matthias Wendt, Stefan Reisch, Lucia A. Walker, Thomas J. |
author_sort |
Oehler, Andreas |
title |
Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy |
title_short |
Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy |
title_full |
Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy |
title_fullStr |
Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy |
title_full_unstemmed |
Young Adults and Their Finances: An International Comparative Study on Applied Financial Literacy |
title_sort |
young adults and their finances: an international comparative study on applied financial literacy |
publisher |
Wiley |
publishDate |
2017 |
url |
http://dx.doi.org/10.1111/ecno.12110 https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fecno.12110 https://onlinelibrary.wiley.com/doi/pdf/10.1111/ecno.12110 |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Economic Notes volume 47, issue 2-3, page 305-330 ISSN 0391-5026 1468-0300 |
op_rights |
http://onlinelibrary.wiley.com/termsAndConditions#vor |
op_doi |
https://doi.org/10.1111/ecno.12110 |
container_title |
Economic Notes |
container_volume |
47 |
container_issue |
2-3 |
container_start_page |
305 |
op_container_end_page |
330 |
_version_ |
1810451407486058496 |