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Money Matters of African Americans

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Handbook of Consumer Finance Research

Abstract

This chapter highlights studies involving African Americans and money matters. Four themes are covered: money knowledge, wealth, spending choices, and retirement. Albeit slow, as a group African Americans or Blacks are making progress on the journey to financial security. Like the rest of the nation, financial knowledge could be improved. Their participation in the stock market has increased, yet it still trails the participation rates of other racial groups. Their spending power is expected to rise with their increased education level. They are as confident as all American workers about their retirement security although their savings and other preparations could be improved.

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Author information

Authors and Affiliations

  1. Department of Agricultural and Extension Education, The Pennsylvania State University, 323 Agricultural Administration, University Park, PA 16802, USA

    Cathy Faulcon Bowen

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  1. Cathy Faulcon Bowen
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Editors and Affiliations

  1. University of Rhode Island Transition Center, 2 Lower College Rd., Kingston, RI 02881, USA

    Jing Jian Xiao Ph.D.

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Bowen, C.F. (2008). Money Matters of African Americans. In: Xiao, J.J. (eds) Handbook of Consumer Finance Research. Springer, New York, NY. https://doi.org/10.1007/978-0-387-75734-6_17

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