Young Adults’ Management of Money: Is Knowledge Enough for This Challenge?

• In Event: Roundtable Session 40
  In Roundtable Session: Technology, Instruction, Cognition and Learning SIG Roundtable 1: Issues in Knowledge Representation

Abstract

Managing the personal financial resources becomes a challenge for young people at the start of self-determined life. Most young adults succeed in this mission. However a rising number go into debt. The claim for fostering financial literacy in compulsory schools arises. A question is whether knowledge provides the basis for the desired ability. The development of a conceptualization of financial problem-solving is our challenge. We consider impacts from different characteristics of human beings. From a quasi-experimental study first results indicate consistent differences between groups of participants and a significant change of variables over time. They too support the orientation that knowledge is not a sufficient basis for solving financial every-day problems. The dimensions of the attitude scales are under evaluation.

Authors

• Klaus U. Breuer, Johannes Gutenberg University of Mainz

• Nina Bender, Johannes Gutenberg University of Mainz

• Daniela Barry, Johannes Gutenberg University