Comparative analysis of financial competencies among Adventists from American and Hispanic church in the Greater New York Conference
DOI:
https://doi.org/10.37354/reej.2025.3.1.001Keywords:
financial literacy, financial education, Seventh-day Adventists, gender gap, financial inclusionAbstract
This study examines the financial literacy of Hispanic and Anglo-Saxon members of the Seventhday Adventist Church in the Greater New York Conference (GNYC) in 2023. Using a quantitative and comparative approach, significant differences were found between the groups, influenced by factors such as gender, educational level, income, and place of birth. Results show that men and participants with higher educational levels and incomes demonstrate better financial competencies. The findings highlight the importance of financial education in addressing observed disparities and promoting financial inclusion across diverse populations.
References
Al-Bahrani, A., Weathers, J. & Patel, D. (2019). Racial differences in the returns to financial literacy education. Journal of Consumer
Affairs, 53(2), 572-599. https://doi.org/10.1111/joca.12205
Álvarez Espiño, M., Fernández-Lopez, S., Rey-Ares, L. & Castro-Gonzalez, S. (2020). Financial capability and financial behaviour of the
millennial generation in Spain. Revista Galega de Economía, 29(3), 1-20. http://dx.doi.org/10.15304/rge.29.3.7045
Angrisani, M., Barrera, S., Blanco, L. y Contreras, S. (2021). The racial/ethnic gap in financial literacy in the population and by income.
Contemporary Economic Policy 39(3), 524-536. https://doi.org/10.1111/COEP.12507
Bucher-Koenen, T., Lusardi, A., Alessie, R. & Van Rooij, M. (2017). How financially literate are women? An overview and new insights.
Journal of Consumer Affairs, 51(2), 255-283. https://doi.org/10.1111/joca.12121
Chen, H. & Volpe, R. P. (2002). Gender differences in personal financial literacy among college students. Financial Services Review, 11(3),
-307.
Fernandes, D., Lynch, J. G., Jr., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors.
Management Science, 60(8), 1861–1883. https://doi.org/10.1287/mnsc.2013.1849
Fonseca, R., Mullen, K. J., Zamarro, G. y Zissimopoulos, J. (2012). What explains the gender gap in financial literacy? The role of
household decision making. Journal of Consumer Affairs, 46(1), 90-106. https://doi.org/10.1111/j.1745-6606.2011.01221.x
Fornero, R. A. (2017, septiembre). Finanzas personales y educación financiera: ¿hilar delgado o trazar grueso? [Ponencia]. XXXVII Jornadas
Nacionales de Administración Financiera, Córdoba, Argentina. https://www.academia.edu/38896457/Finanzas_personales_y_
educacion_financiera
García Vilches, R. A. (2013). El efecto de la educación en la participación en el mercado financiero : evidencia para Chile [Working paper
01]. Instituto de Economía, Pontificia Universidad Católica de Chile. https://doi.org/10.7764/tesisUC/ECO/14985
Díaz-Fernández, M., Llorente-Marrón, M. del M. y Méndez-Rodríguez, M. P. (2019). Envejecimiento y finanzas: un modelo de
comportamiento a largo plazo en España. Revista CEA, 5(10), 35-48. https://doi.org/10.22430/24223182.1442
Gudjonsson, S., Minelgaite, I., Kristinsson, K. & Paldosotir, S. (2022). Financial literacy and gender differences: Women choose people
while men choose things? Administrative Sciences, 12(4), 179, 1-9. https://doi.org/10.3390/admsci12040179
Hastings, J. S., Madrian, B. C. & Skimmyhorn, W. L. (2013). Financial literacy, financial education, and economic outcomes. Annual
Review of Economics, 5(1), 347-373. https://doi.org/10.1146/annurev-economics-082312-125807
Hernández Rivera, A. (2020). La educación financiera como mecanismo para disminuir la desigualdad social. El Cotidiano, 36(223), 37-
https://ariadnahernandezrivera.com/wp-content/uploads/2022/11/223-38-47.pdf
Jerrim, J., Lopez-Agudo, L. A. y Marcenaro-Gutierrez, O. D. (2022). The link between financial education and financial literacy: A crossnational analysis. The Journal of Economic Education, 53(4), 307-324. https://doi.org/10.1080/00220485.2022.2111383
Jurkseviciute, G., Morkuniene, V., Zvironiene, A. y Danielyte, J. (2023). Students’ financial literacy knowledge research: The case of
Kauno Kolegija Higher Education Institution. Environment. Proceedings of the International Scientific and Practical Conference,
, 119-125. https://doi.org/10.17770/etr2023vol2.7266
Keyser, N. y Duvenhage, C. (2019). Construct validity of a financial literacy instrument. Journal of Psychology in Africa, 29(5), 460-465.
https://doi.org/10.1080/14330237.2019.1667151
Kim, K. T. y Xiao, J. J. (2021). Racial/ethnic differences in consumer financial capability: The role of financial education. International
Journal of Consumer Studies, 45(3), 379-395. https://doi.org/10.1111/ijcs.12628
Koomson, I., Ansong, D., Juma, M. & Achulo, S. (2022). Effect of financial literacy on poverty reduction across Kenya, Tanzania, and
Uganda. Global Social Welfare, 10, 93-103. https://doi.org/10.1007/s40609-022-00259-2
Kumari, S. (2023). Financial literacy and women empowerment. International Journal of Applied Research, 9(5), 29-31.
https://doi.org/10.22271/allresearch.2023.v9.i5a.10784
Gobierno de Colombia. (2002). Ley 71 de 1988, reglamentado por el decreto nacional 1073. https://www.funcionpublica.gov.co/eva/
gestornormativo/norma.php?i=307
Lusardi, A. (2019). Financial literacy and the need for financial education: Evidence and implications. Swiss Journal of Economics and
Statistics, 155(1), 1-8. https://doi.org/10.1186/s41937-019-0027-5
Lusardi, A. & Mitchell, O. S. (2008). Planning and financial literacy: How do women fare? American Economic Review, 98(2), 413-417.
https://doi.org/10.1257/aer.98.2.413
McKenzie, V. M. (2010). The financial literacy of university students: A comparison of graduating seniors’ financial literacy and debt level
[Doctoral dissertation, University of South Florida]. Repositorio institucional. https://digitalcommons.usf.edu/etd/2094
Moreno-García, E., García-Santillán, A. y Gutiérrez-Delgado, L. (2017). Nivel de educación financiera en escenarios de educación
superior. Un estudio empírico con estudiantes del área económico-administrativa. Revista Iberoamericana de Educación Superior,
(22), 163-183. https://www.redalyc.org/articulo.oa?id=299151245009
Moten, J. M. Jr. (2011). Examining the disparity in financial literacy between high school seniors of different ethnicities and income level
[Doctoral dissertation, Northcentral University]. ProQuest Dissertation Publishing. https://www.proquest.com/openview/516e
d9e8df085eda78d692a6052f0c4f/1?cbl=18750&loginDisplay=true&pq-origsite=gscholar
Nano, D. & Cani, S. (2013). The differences in students’ financial literacy based on financial education. Academicus: International
Scientific Journal, 4(8), 149-160. https://doi.org/10.7336/ACADEMICUS.2013.08.09
Ndou, A. (2023). The relationship between demographic factors and financial literacy. Research in Business & Social Science, 12(1), 155-
https://orcid.org/0000-0001-7103-0184
OECD. (2017). PISA 2015 results: Students’ financial literacy (Vol. 4). OECD Publishing. https://doi.org/10.1787/9789264270282-en
Porto, N. (2016). Financial issues of Hispanic Americans. In J. Xiao (Ed.), Handbook of consumer finance research (pp. 205-214). Springer.
https://doi.org/10.1007/978-3-319-28887-1_17
Resnick, S., Chernikovskaya, M. & Sazykina, O. (2023). Gender features of financial literacy formation in students of Russian
universities. Population, 26(2), 176-188. https://doi.org/10.19181/population.2023.26.2.15
Sahabuddin, Z. A., & Hadianto, B. (2023). Gender, financial literacy, and financial behavior among students. Humanities and Social
Sciences Letters, 11(2), 203–212. https://doi.org/10.18488/73.v11i2.3367
Spivak, I., Mihus, I. & Greben, S. (2024). Financial literacy and government policies: An international study. Public Administration and
Law Review, 2(18), 21-33. https://doi.org/10.36690/2674-5216-2024-2-21-33
Supo Condori, J. A. y Zacarías Ventura, H. R. (2024). Metodología de la investigación científica (4a. ed.). Cincie.
Tinghög, G., Ahmed, A., Barrafrem, K., Lind, T., Skagerlund, K. & Västfjäll, D. (2021). Gender differences in financial literacy: The role of
stereotype threat. Journal of Economic Behavior and Organization, 192, 405-416. https://doi.org/10.1016/J.JEBO.2021.10.015
