The above mentioned is still subject to debate. Any comments or suggestions for further reading. Cheers.
Dear,
Thanks for sharing. In my opinion, from the publications in my country, this occurs. Most of the authors who support the bibliographies on the subject, present it based on their professional performance. However, only a research with defined methodological procedures can confirm this.
I wish success in your proposition!
knowledge skills and attitudes is a standard paradigm of any competency building. In that canvas your thinking - composition is in correct direction, but maybe there is slightly aberration, especially if the 'behaviors' and attitudes seem to overlap..
So I would stake at financial skills instead.
Hello Thien:
I hope my work will help you with this. In my study, I propose a framework for describing what it means to be financially literate. That includes gaining financial knowledge or skills, re-imagining financial possibilities and what could be accomplished, taking action (behaviours - as you mentioned), realizing the impact on their family relationships, and being able to describe how the program (in this case) helped them to improve their financial literacy. These five are further described in Table 4, and detailed examples are given in the findings and conclusion. I hope you enjoy this paper, and that it relates closely to what you would like to study. cheers
Lorraine
Article Financial Literacy with Families: Opportunity and Hope
Dear Thien Sang Lim,
Good morning!
Let me add to the great comments above with some insights.
I am particularly interested in numeracy and financial literacy. My lab has research applied to the field of health care comprehension. If you could see the connection of numeracy, despite the application in other area/field, you might find valuable to consider our framework presented in Figure 1 (paper attached).
In addition to the variables already mentioned, you might consider "risk perception", depending on what are you studying (if applicable). Quite often we see two different pathways bridging the perceived risk. One, more "cognitive/comprehension", that can be encoded in terms of gist (evaluative/qualitative categories, see: Fuzzy-Trace Theory) and verbatim (e.g., the recall of the numbers themselves), and another pathway in terms of affect response. For example, sometimes if you color-code some information, you might find that participants do not understand the numbers and meaning, but yet have the correct risk perception associated with the colors.
We have an empirical test of this model (Figure 1), with data from cholesterol and diabetes test results. However, the paper is currently under submission/review process, so I can just share with you the design at this point.
From a cognitive science/psychology perspective, you might want to include measures of processing capacity/fluid abilities (e.g., tasks of pattern comparison, letter comparisons), working memory, domain-knowledge (that helps to control education and expertise beyond numeracy), as well general education level.
I will also recommend you to check the work of Rocio Garcia-Retamero, E. Peters and P. Slovic. They have a lot of good work in numeracy, decision-making and graphical literacy.
Example:
E. Peters. Beyond comprehension the role of numeracy in judgments and decisions
Curr. Direct. Psychol. Sci., 21 (1) (2012), pp. 31-35
Hope that helps!
Best,
Renato
Dear Thien,
This approach was used in the OECD / International Network on Financial Education (INFE) Pilot Study. It is a common approach in many studies.
Best regards,
Jasmina.
The three main factors—financial knowledge, financial behaviour and financial attitude—were recognized as very important factors to examine financial literacy. The outcome of the research work explains that financial attitude of working women is highly associated with financial literacy level.
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