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This study examined the relationship between financial knowledge and credit card behavior of college students. The widespread availability of credit cards has raised concerns over how college students might use those cards given the negative consequences (both immediate and long-term) associated with credit abuse and mismanagement. Using a sample of 1,354 students from a major southeastern university, results suggest that financial knowledge is a significant factor in the credit card decisions of college students. Students with higher scores on a measure of personal financial knowledge are more likely to engage in more responsible credit card use. Specific behaviors chosen have been associated with greater costs of borrowing and adverse economic consequences in the past.

An analysis of College students’ subjective well-being (SWB) and persistence behavior was conducted with an emphasis on financial stress and individuals’ perceptions of financial situation, controlling for a number of health, financial, and demographic factors. Data were taken from a sample of 324 undergraduate students from a major Midwestern university. Results indicated that students experiencing higher reported financial stress scored lower on a measure of SWB, and were also significantly more likely to report difficulty maintaining enrollment or number of academic hours enrolled. Individuals’ financial self-efficacy was positively associated with SWB and negatively associated with reductions in enrolled hours, though was not significant as a predictor of student persistence attitudes. Implications for student well-being and healthy campus initiatives are discussed.

Using data collected by the National Financial Capability Study, a survey recently commissioned by the Financial Industry Regulatory Authority, this paper investigates the correlations between subjectively and objectively assessed measures of financial knowledge, and the probability of having savings adequate to cover 3 months of typical expenses. Results indicate that households who are more financially knowledgeable or more confident in their financial ability are significantly more likely to report having emergency funds. These findings support the growing literature on the relationship between financial knowledge and economic behaviors and have wide policy implications.

The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally representative sample of 1,488 participants and are analyzed using multiple regression analysis. Findings suggest that both objective and subjective financial knowledge influence financial behavior, with subjective knowledge having a larger relative impact. Other variables that have a significant impact on financial behavior include financial satisfaction, income, education, age, race, and ethnicity. [PUBLICATION ABSTRACT]

The increasing pervasiveness of high-cost alternative financial services (AFS) has captured the attention of policymakers, consumer educators, and financial counselors. Using data from the 2009 to 2012 waves of the National Financial Capability Study (NFCS), this article investigates AFS borrowing behaviors through the lens of a boundedly rational choice framework, with an emphasis on overconfidence. Through repeated testing of isolated samples of individuals with characteristics that make them less likely to objectively need such products, the roles of actual (objective) and perceived (subjective) financial knowledge in the decision-making process are explored. Consistent results indicate that individuals with lower objective financial knowledge and those that are overconfident in their self-assessed knowledge level are significantly more likely to utilize AFS instruments. These results suggest that a significant portion of AFS users may select these products without conducting adequate search, resulting in less than optimal financial decisions holding all else equal.

This research examined the influence of student loan debt on financial satisfaction using a sample of adults ages 18–54 from the 2015 National Financial Capability Study (NFCS). The study took advantage of the expanded set of variables related to student loan debt that was added to the 2015 wave of the NFCS survey. Results provided mixed evidence of student loan debt serving as an influential factor on consumer financial satisfaction. Whereas borrowing from multiple sources (federal and private) or private lenders only was associated with a lower likelihood of respondents indicating that they would make the same borrowing decisions, having student loan debt was not significantly associated with financial satisfaction. Implications for policy are considered.

Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relatively higher levels of financial knowledge were not significantly different from students with relatively lower levels in terms of the probability of having a credit card balance. Contrary to expectations, those with higher levels of financial knowledge had significantly higher credit card balances. Overall, the present findings highlight the complex nature of the relationship between personal financial knowledge and credit card behavior. [PUBLICATION ABSTRACT]

This study examines the correlation between resource protection and the intrahousehold distribution of bargaining power. Using data from the Health and Retirement Study, the analysis quantifies potential changes in the surviving individual's living standard to evaluate the adequacy of resource protection. Individuals who generate a larger share of family income, are more financially knowledgeable, or have the \"final say\" in family decisions leverage their bargaining power to secure higher protection of their hypothetical widowhood living standard. Consequently, spouses with more bargaining power are less likely to experience declines of their living standard in the event of their spouse passing away and are more likely to be overprotected.

This paper provides an in-depth study of credit card markets from a Sharia perspective, focusing on the challenges of aligning this financial instrument with Islamic principles. The author explains the growing importance of credit cards in modern economies as a primary means of payment, consumption, and short-term borrowing, but highlights the inherent Sharia concerns due to their reliance on interest charges and financing fees. The study examines the economic effects of widespread credit card use, noting that while they enhance liquidity and stimulate consumer spending, they also encourage debt accumulation and impose financial burdens on individuals, contradicting the Sharia objective of preventing harm and exploitation. It further stresses that profits for issuing institutions are predominantly derived from interest and debt-related charges, rendering conventional credit cards incompatible with the prohibition of riba. The paper discusses potential alternatives, such as debit cards linked to current accounts, cards structured on kafalah or murabaha contracts, and prepaid cards that allow users to benefit from technological convenience without incurring Sharia violations. The author emphasizes that the key challenge is reconciling consumer needs with religious compliance through innovative financial products that balance efficiency and ethics. Ultimately, the paper concludes that credit card markets can expand in Islamic economies if products are redesigned to eliminate riba and adopt service- and transparency-based models, thereby making them safe, beneficial, and socially responsible tools. Abstract Written by Dar AlMandumh, 2025, Using AI

The purpose of this research was to examine relationships between food insecurity and selected financial indicators among college students living off campus (n = 395), using an online survey. The prevalence of food insecurity was 38.4%. Students who used food assistance programs, experienced exogenous economic shocks, and owed more than $10,000 in financial aid were more likely to be food insecure than their counterparts. High rates of food insecurity among students living off campus would suggest a need for additional student services.