Table 3.
Standardized regression weights for the structural equation model for the two facets of financial literacy, control and budgeting.
| Control (R2=0.40) | Delay of gratification (R2=0.08) | Budgeting (R2=0.28) | Delay of gratification (R2=0.08) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| B | SE B | β | B | SE B | β | B | SE B | β | B | SE B | β | |
| Gender (0=male, 1=female) | 0.24 | 0.08 | 0.25** | 1.07 | 0.92 | 0.09 | 0.04 | 0.10 | 0.04 | 1.02 | 0.92 | 0.08 |
| Educational background (0=vocational, 1=academic) | −0.16 | 0.09 | −0.17* | 2.12 | 1.01 | 0.17* | 0.18 | 0.11 | 0.14 | 2.18 | 1.01 | 0.18* |
| Migration background (0=without, 1=with) | −0.01 | 0.08 | −0.01 | 1.47 | 1.02 | 0.11 | −0.06 | 0.11 | −0.04 | 1.46 | 1.03 | 0.11 |
| Age | 0.00 | 0.01 | 0.02 | −0.08 | 0.13 | −0.04 | −0.03 | 0.02 | −0.17* | −0.08 | 0.13 | −0.04 |
| OTL in finance (0=no, 1=yes) | −0.06 | 0.07 | −0.07 | 0.24 | 0.84 | 0.02 | 0.05 | 0.09 | 0.04 | 0.23 | 0.84 | 0.02 |
| Self-reported FL (1=low-4=high) | 0.04 | 0.05 | 0.06 | −0.61 | 0.64 | −0.07 | −0.13 | 0.07 | −0.14 | −0.59 | 0.64 | −0.07 |
| Delay of gratification | 0.05 | 0.01 | 0.586** | 0.04 | 0.01 | 0.41** | ||||||
| Modelfit | χ2 =119,775, df=91,p =0.02, CFI=0.94, RMSEA=0.039, PCLOSE=0.826 | χ2 =88,624, df=62, p=0.02, CFI=0.94, RMSEA=0.046, PCLOSE=0.613 | ||||||||||
*
p<0.05,
**
p<0.01.