Teen Financial Knowledge, Self-Efficacy, and Behavior: A Gendered View

Abstract

A social constructionist perspective was taken in the current investigation of 5,329 male and female high school students. Gender differences were investigated in financial knowledge, self-efficacy, and behavior after studying a financial planning curriculum. Females gained more knowledge on credit, auto insurance, and investments, although males had more knowledge entering the course. Females believed that managing money affected their future more than males, but males felt more confident making money decisions. After studying the curriculum content, males reported achieving financial goals more than females, whereas females reported using budgets, comparing prices, and discussing money with family more than males. In sum, male teens reinforced their existing knowledge, whereas female teens learned significantly more about finances in areas in which they were unfamiliar with prior to the curriculum.

Keywords: evaluation, financial behavior, financial knowledge, gender, self-efficacy, teens