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Friday, May 18 • 8:00am - 8:50am
114-The Financial Skill Scale: An Application of Item Response Theory to Establish a Complete View of Financial Literacy

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Dee Warmath, David Zimmerman - The lopsided view of financial literacy as explicit financial knowledge limits our perspective on what is possible and desired in financial education. This study, conducted in partnership with the CFPB, defines a new construct - financial skill, develops a scale to measure it, and validates its contribution to explanations of financial behavior and well-being. While financial knowledge has a role, it represents only part of the story. Financial skill offers an important construct to consider in the development of financial education programs. Findings in our study demonstrate that knowing how and when to obtain reliable financial information, and being able to process and apply that information when making financial decisions is an important consideration in supporting higher levels of financial well-being and money management.


Dee Warmath

Assistant Professor, University of Georgia

Friday May 18, 2018 8:00am - 8:50am
Island 1