Consumer Knowledge and Financial Decisions [electronic resource] : Lifespan Perspectives /
Lamdin, Douglas J.editor.
It's no secret that financial literacy skills are crucial to consumers' lives: between today's complex picture regarding credit and mortgages and the many changes in health insurance and pension programs, failure to follow the money can be devastating. But not all consumers learn the skills-and not all experts agree on a definition for financial literacy. Covering a wide range of perspectives including family/consumer science, law, sociology, and public policy as well as finance and economics, Consumer Knowledge and Financial Decisions offers an accurate picture of American financial literacy and sets out real-world steps toward its improvement. The book starts by tackling methodological challenges to measuring financial competence, and takes a developmental approach to decision-making, such as encouraging responsibility in school children, reducing risky credit behaviors in young adults, and navigating Social Security and Medicare issues in elders. Each chapter focuses on what individuals need to know about a subject, the relationship of that knowledge to financial security, and programs that can improve decision-making or outcomes in that area. Among the topics covered:   Cognitive development and children's financial understanding. Financial education for college students. Homebuyer counseling for diverse buyers. Debtors' assessment of bankruptcy education. Stock market investing: lessons from history. Financial preparedness for long-term care needs.   This combination of timely data and practical ideas makes Consumer Knowledge and Financial Decisions a vital resource for a vital resource for professors, students, and policy analysts who study financial decisions.
Description based upon print version of record.
Consumer Knowledgeand Financial Decisions; Preface; Acknowledgments; Contents; Contributors; Part I: Understanding and Furthering Financial Knowledge; Chapter 1: Coming to Terms with Financial Literacy; Defining Financial Literacy; Financial Knowledge as a Construct; Literacy, Knowledge, and Behavior; References; Chapter 2: Cultivating Financial Mindfulness: A Dual-Process Theory; A Dual-Process Theory of Financial Functioning: Wherein the Left Brain May Not Know or Like How the Right Brain Spends Their (Shared) Money; A Dual-Process Model of Financial Functioning: The Evidence
Mindfulness and the Dual-Process Theory of Financial BehaviorPaths to Mindfulness; The Eastern Path: Meditation; The Western Path: Talk Therapy, Financial Counseling, and Awareness Exercises; What's Next? Toward a True Dual-Process Theory of Financial Mindfulness; Summary and Conclusion; References; Chapter 3: Cognitive Development and Children's Understanding of Personal Finance; Theories of Children's Conceptual Development; Piaget; Theory-Theory/Core Knowledge; Brain/Executive Function Development; Development of Personal Finance Concepts: Numbers; Piaget; Theory-Theory/Core Knowledge
Development of Personal Finance Concepts: TimePiaget; Theory-Theory/Core Knowledge; Brain/Executive Function; Development of Personal Finance Concepts: Money and Income; Piaget; Theory-theory/Core Knowledge; Development of Personal Finance Concepts: Markets and Exchange; Piaget; Theory-Theory/Core Knowledge; Development of Personal Finance Concepts: Institutions; Piaget; Theory-Theory/Core Knowledge; Development of Personal Finance Concepts: Choice; Piaget; Theory-Theory/Core Knowledge; Brain Development/Executive Function; Conclusions; References
Chapter 4: Financial Education for College StudentsFinancial Education for College Students; Previous Research Related to Financial Education for College Students; Models of Financial Education Programs on College Campuses; How Do Colleges and Universities Address Financial Literacy? A Survey; Personal Financial Education Course Requirements; Types of Personal Financial Education Offerings; Sponsorship of Personal Financial Education Programs; Personal Financial Education Programs for Targeted Groups; Promotion of Personal Financial Education to Students
Number of Students Reached and Program EvaluationMandates for State Universities; Conclusions and Limitations; Appendix 1: Participating Universities; Appendix 2: Financial Education for College Students; References; Chapter 5: The Current State of Financial Education in the US: How is Higher Education Helping?; The Issue; Losing the Educational Battle; Education is Key; Surveying Higher Education; Personal Finance Outline; Conclusion; References; Chapter 6: An Overview of Contemporary Financial Education Initiatives Aimed at Minority Populations
Formal Sources of Financial Education May Improve Financial Literacy
Includes bibliographical references and index.
It's no secret that financial literacy skills are crucial to consumers' lives: between today's complex picture regarding credit and mortgages and the many changes in health insurance and pension programs, failure to follow the money can be devastating. But not all consumers learn the skills-and not all experts agree on a definition for financial literacy. Covering a wide range of perspectives including family/consumer science, law, sociology, and public policy as well as finance and economics, Consumer Knowledge and Financial Decisions offers an accurate picture of American financial literacy and sets out real-world steps toward its improvement. The book starts by tackling methodological challenges to measuring financial competence, and takes a developmental approach to decision-making, such as encouraging responsibility in school children, reducing risky credit behaviors in young adults, and navigating Social Security and Medicare issues in elders. Each chapter focuses on what individuals need to know about a subject, the relationship of that knowledge to financial security, and programs that can improve decision-making or outcomes in that area. Among the topics covered:   Cognitive development and children's financial understanding. Financial education for college students. Homebuyer counseling for diverse buyers. Debtors' assessment of bankruptcy education. Stock market investing: lessons from history. Financial preparedness for long-term care needs.   This combination of timely data and practical ideas makes Consumer Knowledge and Financial Decisions a vital resource for a vital resource for professors, students, and policy analysts who study financial decisions.
Psychotherapy.
Counseling.
Sociology.
Economics.
Management science.
Psychotherapy and Counseling.
Sociology, general.
Economics, general.
International Series on Consumer Science