Skip to main content
logo

2023 Annual Conference

May 16–18, 2023

Palace Station Hotel & Casino, Las Vegas, NV, US

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.

Scroll down to search by the Submitter or Author Name, by Date/Time, or by Keywords.

Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.

B1d They Just Add Up: Combined Math and Financial Knowledge Tied to Better Financial Outcomes

Tuesday, May 16, 2023 at 5:15 PM–6:45 PM PDT
Room 1
Short Description

Improving knowledge is a valuable strategy for improving financial outcomes for adults in the United States. Prior work has identified two key areas: personal finance and mathematics. Higher levels of financial knowledge are associated with better financial behaviors. Similarly, mathematics knowledge has been connected to improved financial behavior. However, what is not yet well understood is the relationship between the two types of knowledge. In this paper, we identify key financial behaviors and look at their connection to financial and mathematical knowledge, both independently and jointly. We find that in all cases, greater financial and math knowledge is associated with better financial behaviors. Notably, respondents with a high level of both math and finance knowledge are more likely to engage in positive financial behavior and less likely to engage in negative financial behaviors than those with high knowledge of only one area. The findings suggest that higher levels of both financial and math knowledge may be optimal for sound financial decision making. This has implications for the development of a more well-rounded and systematic strategy for improving financial outcomes in the U.S.

Type of presentation

Accepted Oral Presentation

Submitter

Jack Marley-Payne, Financial Life Cycle Education Corp (FiCycle)

Authors

Jack Marley-Payne, Financial Life Cycle Education
Olivia Valdes, FINRA Foundation
Gary Mottola, FINRA Foundation
Angela Fontes, Fontes Research LLC
Loading…