Literature Review Through different studies on evaluating people’s financial management, it is easy to find that financial knowledge produces significant effects on the effectiveness of people’s financial behaviors. On the one hand, the level of people’s financial knowledge will affect their financial investment and financial management. Chen and Volpe surveyed 924 college students to examine their financial literacy and the relationship between financial literacy and student’s characteristics. They found that the level of personal financial literacy could affect the students’ personal perspective of finance and further influence their financial decisions. According to their study, college students with less financial knowledge had negative
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Unfortunately, it is found that college students are not knowledgeable about personal finance (Chen and Volpe, 1998). Varcoe et al. showed that teenagers had access to and were spending a large amount of money each year, but their financial literacy was low (Varcoe et al., 2001). Sabri et al. made a research on financial behaviors and problems among college students in Malaysia, and they pointed out that “students were using the education fund for purposes other than their academic expenses.” Specifically, most of them did not know where the money was spent. They even skipped meals to save money (Sabri et al., 2008). Therefore, it is necessary to take some methods to improve the quality of college financial education and promote students ' financial awareness. In conclusion, there are still some discussions about college students’ financial knowledge and behaviors, and the role of financial education has also been concerned by different countries and educators. Then, what is the situation in China? How do Chinese college students master financial knowledge and skills? Is there any factors might affect the effectiveness of their financial behaviors? This study trys to figure out these …show more content…
"Financial behavior and problems among college students in Malaysia: Research and education implication." Consumer Interests Annual 54 (2008): 167-170. Web. 30 Nov. 2016. Professors from Iowa State University and University Putra Malaysia conducted a research on financial behaviors and problems among college students in Malaysia. The results showed that most of the students were poor in cash management. The findings of this study provided an important implication that getting extra helps from social agents like parents, peers, schools and media was also necessary.
Varcoe, Karen P., et al. "What Teens Want to Know about Financial Management." Journal of Family and Consumer Sciences 93.2 (2001): 30-4. ProQuest. Web. 29 Nov. 2016. This study aimed to discover what teens wanted to know about financial management. A short questionnaire which including different sub-areas of financial management, was used to collect information about teens’ interests. The authors pointed out that most of the teens thought money important to them because they had to use their money to buy the things they needed. This study provided educators with the information about how to find effective financial education sources from the teens’
Unfortunately, it is found that college students are not knowledgeable about personal finance (Chen and Volpe, 1998). Varcoe et al. showed that teenagers had access to and were spending a large amount of money each year, but their financial literacy was low (Varcoe et al., 2001). Sabri et al. made a research on financial behaviors and problems among college students in Malaysia, and they pointed out that “students were using the education fund for purposes other than their academic expenses.” Specifically, most of them did not know where the money was spent. They even skipped meals to save money (Sabri et al., 2008). Therefore, it is necessary to take some methods to improve the quality of college financial education and promote students ' financial awareness. In conclusion, there are still some discussions about college students’ financial knowledge and behaviors, and the role of financial education has also been concerned by different countries and educators. Then, what is the situation in China? How do Chinese college students master financial knowledge and skills? Is there any factors might affect the effectiveness of their financial behaviors? This study trys to figure out these …show more content…
"Financial behavior and problems among college students in Malaysia: Research and education implication." Consumer Interests Annual 54 (2008): 167-170. Web. 30 Nov. 2016. Professors from Iowa State University and University Putra Malaysia conducted a research on financial behaviors and problems among college students in Malaysia. The results showed that most of the students were poor in cash management. The findings of this study provided an important implication that getting extra helps from social agents like parents, peers, schools and media was also necessary.
Varcoe, Karen P., et al. "What Teens Want to Know about Financial Management." Journal of Family and Consumer Sciences 93.2 (2001): 30-4. ProQuest. Web. 29 Nov. 2016. This study aimed to discover what teens wanted to know about financial management. A short questionnaire which including different sub-areas of financial management, was used to collect information about teens’ interests. The authors pointed out that most of the teens thought money important to them because they had to use their money to buy the things they needed. This study provided educators with the information about how to find effective financial education sources from the teens’