User-Source Fit And Financial Information Source Selection Of Millennials

Keywords

Financial counseling; Financial education; Financial information search; Financial well-being; Millennials; User-source fit

Abstract

This study investigated Millennials’ source selection while searching for financial information to improve financial well-being. Results from an online survey of 488 business students at a Western U.S. university showed that Millennials used multiple sources when looking for financial information, but only sources whose perceived attributes fit the seekers’ preferences were considered; respondents favored family, employer/ university, and government sources. Associations between personal characteristics (personal financial well-being, financial issue involvement, financial health self-efficacy, gender, and perception of source attributes) and financial information source selection were examined. Findings suggest financial practitioners, universities, and employers can improve their “fit” as financial information sources for Millennials by cocreating financial information with them, tailoring the communication channels, and enhancing the accessibility of information.

Publication Date

1-1-2018

Publication Title

Journal of Financial Counseling and Planning

Volume

29

Issue

2

Number of Pages

272-289

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1891/1052-3073.29.2.272

Socpus ID

85064426335 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/85064426335

This document is currently not available here.

Share

COinS