Table 4.
Income Sub-Sample Analysis: Marginal Effects from Probit Models
| OFK | SFK | FC | SAV | N | |
|---|---|---|---|---|---|
| 2009 Study | |||||
| Under $50,000 | 0.006 | 0.040*** | 0.019*** | 0.228*** | 12,847 |
| $50—$99,000 | 0.001 | 0.093*** | 0.028*** | 0.348*** | 7,997 |
| $100 k and higher | 0.014 | 0.075*** | 0.024*** | 0.270*** | 4,250 |
| 2012 Study | |||||
| Under $50,000 | 0.001 | .028*** | 0.021*** | 0.211*** | 11,113 |
| $50—$99,000 | 0.003 | 0.069*** | 0.040*** | 0.250*** | 7,275 |
| $100 k and higher | 0.002 | 0.056*** | 0.029** | 0.203*** | 4,308 |
| 2015 Study | |||||
| Under $50,000 | 0.014** | 0.041*** | 0.035*** | 0.259*** | 11,307 |
| $50—$99,000 | 0.007 | 0.075*** | 0.058*** | 0.300*** | 8,618 |
| $100 k and higher | 0.012 | 0.048*** | 0.031* | 0.203*** | 4,721 |
| 2018 Study | |||||
| Under $50,000 | 0.010* | 0.052*** | 0.036*** | 0.256*** | 10,700 |
| $50—$99,000 | 0.005 | 0.056*** | 0.046*** | 0.263*** | 8,328 |
| $100 k and higher | 0.011 | 0.048*** | 0.034*** | 0.221*** | 4,944 |
OFK objective financial knowledge, SFK subjective financial knowledge, FC financial confidence, SAV savings account ownership
Marginal effects are calculated at sample means * p < .05; ** p < .01; *** p < .001