TY  - JOUR
A1  - Siegfried, Christin
A1  - Wuttke, Eveline
T1  - What influences the financial literacy of young adults? A combined analysis of socio-demographic characteristics and delay of gratification
T2  - Frontiers in psychology
N2  - The current economic landscape is complex and globalized, and it imposes on individuals the responsibility for their own financial security. This situation has been intensified by the COVID-19 crisis, since short-time work and layoffs significantly limit the availability of financial resources for individuals. Due to the long duration of the lockdown, these challenges will have a long-term impact and affect the financial well-being of many citizens. Moreover, it can be assumed that the consequences of this crisis will once again particularly affect groups of people who have already frequently been identified as having low financial literacy. Financial literacy is therefore an important target for educational measures and interventions. However, it cannot be considered in isolation but must take into account the many potential factors that influence financial literacy alone or in combination. These include personality traits and socio-demographic factors as well as the (in)ability to defer gratification. Against this background, individualized support offers can be made. With this in mind, in the first step of this study, we analyze the complex interaction of personality traits, socio-demographic factors, the (in-)ability to delay gratification, and financial literacy. In the second step, we differentiate the identified effects regarding different groups to identify moderating effects, which, in turn, allow conclusions to be drawn about the need for individualized interventions. The results show that gender and educational background moderate the effects occurring between self-reported financial literacy, financial learning opportunities, delay of gratification, and financial literacy.
KW  - financial literacy
KW  - financial well-being
KW  - moderator
KW  - delay of gratification
KW  - structural equation modeling
KW  - influencing factors
Y1  - 2021
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/73836
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-738365
SN  - 1664-1078
N1  - The raw data supporting the conclusions of this article will be made available by the authors, without undue reservation.
VL  - 12
IS  - art. 663254
SP  - 1
EP  - 14
PB  - Frontiers Research Foundation
CY  - Lausanne
ER  -