EconPapers    
Economics at your fingertips  
 

An intersectional approach to evaluating consumer financial literacy

Mohammad G. Nejad () and Genevieve O’Connor ()
Additional contact information
Mohammad G. Nejad: Fordham University
Genevieve O’Connor: Fordham University

Journal of Financial Services Marketing, 2016, vol. 21, issue 4, 308-324

Abstract: Abstract This study applies a novel approach to explore consumer financial literacy—the necessary skills and knowledge to make personal financial decisions—across different demographic groups. Rather than exploring demographic variables independently of each other, an intersectional approach is employed to identify the most critical and vulnerable consumer groups in light of financial literacy. A survey of 1047 respondents from a panel of consumers residing in the United States demonstrates that identifying the most critical and vulnerable consumer groups is achieved using an intersectional approach. For example, although we find Generation Y exhibits lower financial literacy compared with previous generations, by examining the demographic variables simultaneously, we find that Generation Y females who are members of ethnical minorities are at the greatest risk of being financially vulnerable. Implications for research and financial literacy programs are discussed.

Keywords: financial literacy; intersectionality; consumer vulnerability; generations; consumer demographics; consumer well-being; financial capability (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1057/s41264-016-0014-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:jofsma:v:21:y:2016:i:4:d:10.1057_s41264-016-0014-1

Ordering information: This journal article can be ordered from
https://www.palgrave.com/gp/journal/41264

DOI: 10.1057/s41264-016-0014-1

Access Statistics for this article

Journal of Financial Services Marketing is currently edited by Tina Harrison

More articles in Journal of Financial Services Marketing from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2020-03-07
Handle: RePEc:pal:jofsma:v:21:y:2016:i:4:d:10.1057_s41264-016-0014-1