Members of the African American community tend to be inadequately educated in personal financial scenarios. This problem influences personal indebtedness and financial crises later in life. Research suggests that with proper education African Americans will be able to make more informed financial choices that help individuals and their entire community. The purpose of this phenomenological study was to understand African Americans’ perception of financial literacy. This study was conducted to examine the financial literacy of African Americans. Snowball sampling and purposive sampling were used to find 11 African Americans from Akron, Ohio, who had had no financial education courses and unmanageable debt. Research questions addressed how African American consumers define financial education, the extent to which financial education is available to African American consumers, how well-equipped African Americans are to make financial decisions, the determinants of financial illiteracy among African Americans, and how this information can aid educators to incorporate financial education into their classroom. Results suggested a need for financial literacy or financial education in Akron, Ohio stemming from the negative effects of unemployment, low wage employment, medical conditions, divorces, and lack of financial education. If individuals do not invest in a financial education course, they may continue to make poor financial decisions that could affect them for the rest of their lives.
|Commitee:||Dereshiwsky, Mary, Johnston, Charles|
|School:||Baker College (Michigan)|
|Department:||Center for Graduate Studies|
|School Location:||United States -- Michigan|
|Source:||DAI-A 78/07(E), Dissertation Abstracts International|
|Subjects:||Education finance, African American Studies, Education|
|Keywords:||African American, Financial education, Financial education and community, Financial impact, Lack of financial education, Low income and education|
Copyright in each Dissertation and Thesis is retained by the author. All Rights Reserved
The supplemental file or files you are about to download were provided to ProQuest by the author as part of a
dissertation or thesis. The supplemental files are provided "AS IS" without warranty. ProQuest is not responsible for the
content, format or impact on the supplemental file(s) on our system. in some cases, the file type may be unknown or
may be a .exe file. We recommend caution as you open such files.
Copyright of the original materials contained in the supplemental file is retained by the author and your access to the
supplemental files is subject to the ProQuest Terms and Conditions of use.
Depending on the size of the file(s) you are downloading, the system may take some time to download them. Please be