Financial Stress and Financial Literacy: Gender and College Status

Abstract

This study aimed to examine various demographic factors affecting both financial stress and financial literacy in students and non-students. Sixty-nine participants were recruited using convenient sampling. Financial stress was assessed using a modified Financial Distress Scale and a modified Financial Literacy Survey. Participants filled out a 26-item questionnaire. One of two hypotheses was supported, with women having higher financial stress than men. However, higher educational status was not found to correlate with greater levels of financial literacy.