Financial management knowledge of the low-income population: Characteristics and needs

Research output: Contribution to journalArticlepeer-review


While financial management programs for the low-income population have developed in recent years, little is known about financial knowledge levels of participants in these programs. This study examines pre-training financial knowledge and related participant characteristics among participants in one large financial management training program for low-income people. Results indicate that knowledge deficiencies exist on basic financial management issues, especially with respect to public and work-related benefits and savings and investing. Results from regression analyses also indicate that participants' education, English proficiency, race/ethnicity and banking experience are among the factors associated with financial knowledge levels. Policy and practice implications for developing effective financial management training for low-income audiences are discussed.

Original languageEnglish (US)
Pages (from-to)93-106
Number of pages14
JournalJournal of Social Service Research
Issue number1
StatePublished - Nov 29 2006


  • Financial knowledge
  • Financial management training
  • Low-income audience
  • Welfare reform

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Sociology and Political Science


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