Financial literacy in college undergraduates following the 2008-2009 recession.

摘要

In the wake of the deep recession of 2008 and 2009, there has been increased concern over the current level of financial literacy among American citizens. For many, this concern extends to our college students getting ready to enter the real world as they leave college life behind. This study looks at the preparedness of college students to manage their financial affairs both as young adults and as citizens able to effectively plan for typical life-changing events. This body of knowledge usually includes a solid understanding of investing, insurance, risk, credit, debt, buying a home, retirement planning, wills and living wills, and cash management. The focus of this study was undergraduates at two smaller private higher education institutions in New England and a public community college in South Carolina. This study evaluated the financial literacy skills of college students as measured by a well-regarded questionnaire developed and used by the Jump;Keywords: financial literacy, personal finance, college students.