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Adolescents' financial literacy: The role of financial socialization agents, financial experiences, and money attitudes in shaping financial literacy among South Korean youth

Title
Adolescents' financial literacy: The role of financial socialization agents, financial experiences, and money attitudes in shaping financial literacy among South Korean youth
Authors
Sohn S.-H.Joo S.-H.Grable J.E.Lee S.Kim M.
Ewha Authors
주소현
SCOPUS Author ID
주소현scopus
Issue Date
2012
Journal Title
Journal of Adolescence
ISSN
0140-1971JCR Link
Citation
vol. 35, no. 4, pp. 969 - 980
Indexed
SSCI; SCOPUS WOS scopus
Abstract
The purpose of this study was to test the relationships between financial socialization agents, financial experiences, money attitudes, demographic characteristics, and the financial literacy of Korean adolescents. Using the 2006 Korean National Financial Literacy Test Survey for Adolescents (N = 1185), a series of regression analyses were performed to determine the factors related to financial literacy. It was found that those who chose media as their primary financial socialization agent, and those who had a bank account, exhibited higher levels of financial literacy. Among the sample, those who saw money as good or as a reward for efforts tended to report higher levels of financial literacy, while those perceiving money in terms of avoidance or achievement had lower levels of financial literacy. Students with mid-range monthly allowances showed higher levels of financial literacy compared to the highest allowance group. Implications for financial educators, policy makers, and researchers are provided. © 2012 The Foundation for Professionals in Services for Adolescents.
DOI
10.1016/j.adolescence.2012.02.002
Appears in Collections:
사회과학대학 > 소비자학전공 > Journal papers
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