Ability, Educational Attainment, and Household Financial Distress

Using register data on the Finnish population, we show that both ability (measured with comprehensive school GPA) and educational attainment are relevant predictors of financial distress, even after accounting for childhood family environment. Low GPA is an especially useful predictor of financial d...

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Bibliographic Details
Published in:Journal of consumer policy 2022-12, Vol.45 (4), p.655-672
Main Authors: Luotonen, N., Puttonen, V., Rantapuska, E.
Format: Article
Language:English
Subjects:
Academic achievement
Accounting
Childhood
Cognitive ability
Commercial Law
Decision making
Economic Policy
Economics education
Educational attainment
Families & family life
Home environment
Households
Marketing
Mathematics
Original Paper
Parents & parenting
Psychological distress
Siblings
Skills
Social Sciences
Socioeconomic factors
Teenagers
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Summary:Using register data on the Finnish population, we show that both ability (measured with comprehensive school GPA) and educational attainment are relevant predictors of financial distress, even after accounting for childhood family environment. Low GPA is an especially useful predictor of financial distress years later for those who attain a secondary-level education at most. Our results suggest that any societal interventions to mitigate financial distress should particularly focus on low GPA individuals, and especially those unlikely to continue their studies after completing comprehensive school.
ISSN:0168-7034
1573-0700
DOI:10.1007/s10603-022-09528-1