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Financial Knowledge among Educated Women: Room for Improvement
Author(s) -
MAHDAVI MAHNAZ,
HORTON NICHOLAS J.
Publication year - 2014
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/joca.12032
Subject(s) - bachelor , sample (material) , cohort , bachelor degree , liberal arts education , higher education , demographic economics , finance , psychology , business , economics , political science , management , economic growth , medicine , chemistry , chromatography , law
We examined financial knowledge among educated women with at least a bachelor's degree by analyzing the results from a 2009 survey representing a well‐defined sample ( N = 4,344) of alumnae from a highly selective liberal arts college for women. This study found modest levels of financial knowledge with wide variation. Specifically, in the sample of alumnae, respondents in an older cohort, with higher household income, and those who obtained an MBA degree exhibit higher levels of financial knowledge. These results highlighted the need for effective financial education for many college‐educated women.