Research and Analysis by John L. Murphy
Psychosocial Factors and Financial Literacy
from Social Security Bulletin, Vol. 73 No. 1 (released February 2013)
This article explores how psychosocial variables relate to financial literacy. Although prior research has examined mainstay economic variables, this study examines whether previously unexplored variables—financial satisfaction, hopelessness, and religiosity—impact financial literacy. The study uses Health and Retirement Study data and finds that financial satisfaction and religiosity are associated with financial literacy.