Research Findings from the AFCPE Symposium
A study of college students’ money management behaviors found that they lack financial knowledge and tend to over-estimate their knowledge of personal finance.
Another study found evidence that financial knowledge is negatively related to financial stress. Knowledge about inflation and taxes was significantly associated with lower financial stress levels.
A third research study found statistically significant relationships between diet (eating habits), sleep, and physical activity, respectively, with an index of 10 financial management practices.
A fourth symposium workshop discussed differences between male and female finances. For example, the average monthly Social Security benefit for female retirees is 79% of what it is for male retirees.
Another session discussed research that found that indicators of financial knowledge and their application had a significant impact on financial well-being.
What can be learned from these AFCPE Symposium presentations?