Household Financial Management: The Connection between Knowledge and Behavior

Kansas, prepared this article. Across the decade of the 1990s to the present, the issue of financial education has risen on the agendas of educators, community groups, businesses, government agencies, and policymakers. 1 This increased interest in financial education has been prompted by the increasing complexity of financial products and the increasing responsibility on the part of individuals for their own financial security. Well-informed, financially educated consumers are better able to make good decisions for their families and thus are in a position to increase their economic security and well-being. Financially secure families are better able to contribute to vital, thriving communities and thereby…