Financial Literacy, Risk Preference, and Personal Financial

Haiyi Liu

doi:10.47297/wspceWSP2516-251930.20250902

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Financial Literacy, Risk Preference, and Personal Financial

Volume 9, Issue 2

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Financial Literacy, Risk Preference, and Personal Financial
Financial Literacy, Risk Preference, and Personal Financial
International Business School , Shandong Technology and Business University, Yantai, Shandong, 264000 , China
Vol. 9, Issue 2, Pages: 173-178(2025)
Published：28 April 2025
DOI：10.47297/wspceWSP2516-251930.20250902
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Liu Haiyi.Financial Literacy, Risk Preference, and Personal Financial[J].Creative Economy,2025,09(02):173-178.
DOI：

Liu Haiyi.Financial Literacy, Risk Preference, and Personal Financial[J].Creative Economy,2025,09(02):173-178. DOI： 10.47297/wspceWSP2516-251930.20250902.

摘要

Abstract

Against the backdrop of an increasingly complex global economy and continuous innovation in financial products

financial literacy

this is important for people's ability to cope with financial difficulties and has a significant impact on the quality of financial decision-making and personal finances.. However

current research on how financial literacy and risk preference jointly influence personal financial behavior is still insufficient. This study focuses on working people aged 30 to 60 in China. Through a questionnaire survey

149 valid samples were collected. The study employed multiple linear regression

ANOVA

and t-tests to analyze the relationships among financial literacy

risk preference

and personal financial outcomes.Empirical findings confirm that financial literacy significantly improves both monthly income and personal savings.This indicates that individuals with stronger financial knowledge are more likely to make informed financial decisions

which support improved financial well-being. Additionally

risk preference is another critical factor influencing personal financial outcomes. Individuals with a higher risk tolerance often achieve higher savings and income levels. Further analysis reveals that financial literacy and risk preference interact in ways that jointly influence financial behavior.Individuals with greater financial literacy typically demonstrate stronger understanding of financial principles and are more likely to accept financial risk

which may enhance their overall financial status.

关键词

Keywords

references

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