2010/06/01 by DAVID L. REMUND · 1 citation
paper · doi:10.1111/j.1745-6606.2010.01169.x
crossref issued 2010/06/01 · crossref published 2010/06/01 · crossref published-online 2010/06/01 · crossref published-print 2010/06/01 · crossref created 2010/06/02 · crossref deposited 2023/09/11 · crossref indexed 2026/08/05
This study explicates the concept of financial literacy, which has blossomed in use this century. Scholars, policy officials, financial experts and consumer advocates have used the phrase loosely to describe the knowledge, skills, confidence and motivation necessary to effectively manage money. As a result, financial literacy has varying conceptual definitions in existing research, as well as diverse operational definitions and values. This study dissects the differing financial literacy definitions and measures, urging researchers toward common ground. A clearer definition should improve future research, in turn helping consumers better understand and adapt to changing life events and an increasingly complex economy.