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Financial Capability: Literacy, Behavior, and Distress

Dr. Janine K. Scott, Assistant professor and Director of Financial Planning, College of Business

April 12th, 11am to Noon: Robert C. Byrd Center Auditorium

We inspect the influence of individual financial knowledge and financial behavior on the probability of experiencing financial distress. Using the 2015 National Financial Capability Study, we examine three measures of financial distress related to bill payment, retirement saving, and being late with a mortgage payment. Financial literacy and financial behavior indices are constructed using questions from the survey that pertain to financial knowledge (ranging in complexity) and financial decision-making. In addition to the influence of socioeconomic factors, the conclusion suggests that financial literacy and positive behavior reduces financial distress stemming from simple financial matters. However, the opposite is observed for more complex financial decisions.


Dr. Scott is completing her second year at Shepherd University as an Assistant Professor and the Director of the Financial of Planning program in the College of Business. Dr. Scott thoroughly enjoys teaching financial planning courses as well as engaging in research on financial education and financial capability. Since Fall 2018, Dr. Scott has been training and equipping students n the Financial Planning Club here at Shepherd to deliver basic (yet very worthwhile) financial planning presentations to students on campus as well as to high school students in WV. Additionally, Dr. Scott currently serves as the President-Elect for the Academy of Financial Services.