Metacognitive confidence about credit correlates with financial behaviors and advice giving, but knowledge performance does not correlate with behavior¶

Claim · All claims
Evidence · 1 study · causal r2 · q2
Currency · newest study 2023 · not yet checked against its sources · not reviewed by a person

Subclaims¶

q2 i? Subjective confidence in knowledge and ability was positively correlated with good financial behaviors and advice giving; knowledge performance correlated with confidence (r = .24) but not significantly with behavior. → Kang 2023

Evidence¶

Kang 2023¶

Kang, S. H. K., Eglington, L. G., Schuetze, B. A., Lu, X., Hinterstoisser, T. M., & Huaco, J. (2023). Using Cognitive Science and Technology to Enhance Financial Education: The Effect of Spaced Retrieval Practice. Journal of Financial Counseling and Planning, 34(1), 20–31. https://doi.org/10.1891/JFCP-2021-0032

q2 · i? · causal · r2

Pearson bivariate correlational analyses among the outcome variables (Table 3) in the same sample. Confidence–knowledge correlation was r = .24 (significant at .01); knowledge did not significantly correlate with behavior. Exploratory analysis; no effect sizes for the behavior correlations are printed in the quoted text.

"In general, participants’ subjective metacognitive confidence in their own knowledge and ability regarding credit was positively correlated with good financial behaviors and advice giving. Although the performance on the knowledge questions in the final assessment also correlated positively with confidence in one’s knowledge, it did not significantly correlate with behavior."

Discussion¶

Learner Variables¶

• Self-Efficacy — predictor: learners who differ on it differ in outcomes
• Metacognition — predictor: learners who differ on it differ in outcomes

Related Claims¶

• Practice condition did not significantly affect learners' subjective confidence about credit knowledge or ability to manage credit — related
• Practice condition showed no significant association with self-reported financial behaviors about credit — related
• The majority of students lacked confidence in their experimental results because they could not solicit the behaviors or obtained unexpected results — related
• Metacognitive confidence triggers intention offloading independently of objective memory need — related
• Learners' task-specific self-efficacy beliefs predict whether they initiate, persist through, and recover from difficulty on academic tasks. — related