Financial literacy in the family context: The Role of Spousal Education and Gender Among Older Couples
Financial literacy in the family context: The Role of Spousal Education and Gender Among Older Couples
We examine cross-spouse associations between education and financial literacy among older couples, net of own education, and whether the cross-spouse associations differ by gender. Using data from the Cognitive Economics Study, we employ multilevel actor–partner interdependence regression models to examine both the actor and partner associations between education and financial literacy (N = 205 dyads) and the moderating role of gender. Findings indicate that the partner association between education and financial literacy was moderated by gender. Husbands’ education was associated with wives’ financial literacy, net of own education and controls, but wives’ education was not associated with husbands’ financial literacy. The study adds to our knowledge of the role of the family context in financial literacy, net of own education. Results suggest that factors shaping financial knowledge may spill over from husbands to wives. Interventions to enhance older adults’ financial knowledge should take into account the family context and consider couple-based approaches.
actor–partner interdependence model, aging, cognitive economics study, human capital, linked lives
Li, Yang
4789a098-30e5-4197-8082-e467601b7a52
Mutchler, Jan
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Miller, Edward Alan
db0cff51-748f-4eec-bc8f-fd880d12c9ee
Tucker-Seeley, Reginald
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Xiao, Jing Jian
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Li, Yang
4789a098-30e5-4197-8082-e467601b7a52
Mutchler, Jan
5e6775ff-d7e8-4955-9220-ba9558dce418
Miller, Edward Alan
db0cff51-748f-4eec-bc8f-fd880d12c9ee
Tucker-Seeley, Reginald
c9cc54ee-3e22-413f-8e58-f87811090092
Xiao, Jing Jian
710ff928-5051-40f7-9613-7aaed2502e34
Li, Yang, Mutchler, Jan, Miller, Edward Alan, Tucker-Seeley, Reginald and Xiao, Jing Jian
(2022)
Financial literacy in the family context: The Role of Spousal Education and Gender Among Older Couples.
Journal of Family Issues.
(doi:10.1177/0192513X221105244).
Abstract
We examine cross-spouse associations between education and financial literacy among older couples, net of own education, and whether the cross-spouse associations differ by gender. Using data from the Cognitive Economics Study, we employ multilevel actor–partner interdependence regression models to examine both the actor and partner associations between education and financial literacy (N = 205 dyads) and the moderating role of gender. Findings indicate that the partner association between education and financial literacy was moderated by gender. Husbands’ education was associated with wives’ financial literacy, net of own education and controls, but wives’ education was not associated with husbands’ financial literacy. The study adds to our knowledge of the role of the family context in financial literacy, net of own education. Results suggest that factors shaping financial knowledge may spill over from husbands to wives. Interventions to enhance older adults’ financial knowledge should take into account the family context and consider couple-based approaches.
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0192513x221105244
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Accepted/In Press date: 2022
e-pub ahead of print date: 25 May 2022
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Keywords:
actor–partner interdependence model, aging, cognitive economics study, human capital, linked lives
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Local EPrints ID: 471659
URI: http://eprints.soton.ac.uk/id/eprint/471659
ISSN: 0192-513X
PURE UUID: 941a7155-761f-470e-bd71-25ee0982a5f7
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Date deposited: 15 Nov 2022 18:30
Last modified: 16 Mar 2024 22:50
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Author:
Yang Li
Author:
Jan Mutchler
Author:
Edward Alan Miller
Author:
Reginald Tucker-Seeley
Author:
Jing Jian Xiao
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