Financial Information: Is it Related to Savings and Investing Knowledge and Financial Behavior of Teenagers?

10 Pages Posted: 1 Mar 2013

See all articles by Joan Koonce Lewis

Joan Koonce Lewis

University of Georgia - Department of Housing and Consumer Economics, Cooperative Extension

Yoko Mimura

California State University, Northridge - Department of Family and Consumer Sciences

Teresa Mauldin

University of Georgia

Michael Rupured

University of Georgia - Department of Housing and Consumer Economics, Cooperative Extension

Jenny Jordan

College of Agriculture and Environmental Sciences, Cooperative Extension

Abstract

General linear model procedures were used to investigate the association between financial behavior and sources of financial information, the association between savings and investing knowledge and financial information sources, and the association between financial behavior and savings and investing knowledge. The study participants were 253 teenagers aged 14 to 19 who attended a state-wide 4-H event in Georgia in December 2006. Setting financial goals and saving some or all of their earnings were associated with obtaining more financial information from parents. Having spending plans was associated with using the media/Internet as information sources. White teens reported obtaining less information from the media/Internet and educators than did non-Whites.

Keywords: financial behavior, investing knowledge, savings knowledge, teenagers

Suggested Citation

Koonce Lewis, Joan and Mimura, Yoko and Mauldin, Teresa and Rupured, Michael and Jordan, Jenny, Financial Information: Is it Related to Savings and Investing Knowledge and Financial Behavior of Teenagers?. Journal of Financial Counseling and Planning, Vol. 19, No. 2, 2008, Available at SSRN: https://ssrn.com/abstract=2226475

Joan Koonce Lewis (Contact Author)

University of Georgia - Department of Housing and Consumer Economics, Cooperative Extension

Athens, GA 30602-6254
United States

Yoko Mimura

California State University, Northridge - Department of Family and Consumer Sciences ( email )

18111 Nordhoff Street
Northridge, CA 91330-8308
United States

Teresa Mauldin

University of Georgia ( email )

Athens, GA 30602-6254
United States

Michael Rupured

University of Georgia - Department of Housing and Consumer Economics, Cooperative Extension ( email )

Athens, GA 30602-6254
United States

Jenny Jordan

College of Agriculture and Environmental Sciences, Cooperative Extension ( email )

Athens, GA 30602-6254
United States

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