Microsoft Word Ed Horwitz Post Dissertation Fina docx

 Subjective Financial Knowledge 
Self-assessed financial knowledge has been found to be one of the most significant 
factors in determining financial behavior (Courchane, 2005; Robb & Woodyard, 2011; Seay & 
Robb, 2013). One question was included in the survey related to self-reported financial 
knowledge. Respondents were asked to agree or disagree according to a seven-point Likert-type 
scale where 1=very low and 7=very high. Answers of don’t know or refuse to answer were coded 
with values of zero. The mean subjective financial knowledge score was 5.40 with a standard 
deviation of 1.08. The survey question was as follows: 
1.  On a scale from 1 to 7, where 1 means very low and 7 means very high, how 
would you assess your overall financial knowledge?