Sheraton Uptown, Albuquerque, NM, USA
Saturday, April 22 • 8:00am - 9:00am
101-Financial Confidence, Credit Card Use and Financial Satisfaction

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This paper investigates the impact of confidence about financial knowledge on financial behaviors. On one hand confidence is necessary to make proactive decisions, yet overconfidence has been associated with a range of negative financial behaviors and outcomes. The role of confidence in credit card choices is unclear. This paper analyzes data from the 2009 National Financial Capability Survey to examine how financial confidence relates with financial knowledge and credit card behaviors. We find evidence that confidence is associated with healthy credit card use and this contributes to financial satisfaction. We also find strong interactions with knowledge to find that confidence increases return of knowledge on healthy credit card use and overall financial satisfaction.

Speakers & Presenters

Stephen A. Atlas

Assistant Professor, University of Rhode Island

Jialing Lu

Research Assistant, University of Rhode Island
avatar for Nilton Porto

Nilton Porto

Assistant Professor, University of Rhode Island

Saturday April 22, 2017 8:00am - 9:00am

Attendees (3)