期刊名称：Journal of Economics and Sustainable Development
印刷版ISSN：2222-2855
电子版ISSN：2222-2855
出版年度：2013
卷号：4
期号：8
页码：118-126
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：The study examined the impact of selected socioeconomic factors on financial education. Using a questionnaire, data were obtained from a convenience sample of 204 participants from several Alabama Black Belt Counties, and analyzed using descriptive statistics and logit analysis. The results showed that a majority had not taken financial education classes; therefore, many were willing to take the classes. In line with the preceding finding, therefore, only a few (nearly 21%) got at least, 25% of financial term literacy questions correct. In addition, two socioeconomic factors, number of persons in household and educational level, had a statistically significant effect on whether or not participants had taken prior financial education classes. Educational level, however, had a greater effect than number of persons in household ( p = 0.000 versus p = 0.018). Consequently, it was recommended that policies and programs that encourage financial education in particular and higher education in general be put in place for residents in the study area. This is likely to significantly improve financial knowledge or literacy, ultimately leading to better personal finance decision making. Key resources to use in this effort are the community-based organizations, research institutions, and government agencies.
关键词：Financial education; Socioeconomic factors; Black Belt; Rural communities
