MacKinnon, Marion (2009) Financial Literacy and Occupation: Exploring the Relationship between Financial Literacy and Holland's Theory of Vocational Choice. Honours thesis, University of Southern Queensland. (Unpublished)
Abstract
Previous research confirmed low levels of financial literacy lead to personal financial mismanagement and contributes to economic destabilisation. This study investigated the relationship between measures of financial literacy and demographic characteristics of gender, age, education, years in the workforce, income and financial experience, measured by purchase of a home, car, shares and possession of financial qualifications. Individual difference factors using Holland’s (1985) theory of vocational personality was examined for additional variance in financial literacy measures, after controlling for demographic characteristics. Interests were measured using Realistic, Investigative, Artistic, Social, Enterprising and Conventional types. A financial literacy instrument comprising 25 questions, an interest and occupation inventory comprising 30 questions each and a demographic questionnaire was administered by web to 228 psychology students, and some members of the public, at the University of Southern Queensland. Data used in this study was archival. Consistent with previous studies, a positive relationship between demographic variables and financial literacy scores was obtained for gender, education, years in the workforce, income and financial experience, excluding financial qualifications. The mean financial literacy score was 61.39, higher than in previous studies, possibly due to the range of socio-economic backgrounds, age levels, work experience and education levels in the sample. No significant difference was found between conventional and enterprising types with measures of financial literacy. Investigative types were found to have a relationship with financial literacy, however due to low effect size, results were interpreted with caution. More positive findings may be obtained from an occupationally diverse population Overall, demographic factors contributed to 40% of the variance, and occupation contributed 5% of incremental variance, once demographic factors were controlled. Clearly, individual difference factors contribute to financial behaviour, alongside financial skills and knowledge. Directions for future research are discussed and include a focus on qualitative studies to identify motivation and emotional factors.
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| Item Type: | Thesis (Non-Research) (Honours) |
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| Item Status: | Live Archive |
| Additional Information: | Current UniSQ staff and students can request access to this thesis. Please email research.repository@unisq.edu.au with a subject line of SEAR thesis request and provide: Name of the thesis requested and Your name and UniSQ email address |
| Faculty/School / Institute/Centre: | Historic - Faculty of Sciences - Department of Psychology (Up to 30 Jun 2013) |
| Supervisors: | Gerry Fogarty |
| Qualification: | Bachelor of Science (Honours) |
| Date Deposited: | 03 Dec 2025 00:36 |
| Last Modified: | 03 Dec 2025 00:36 |
| Fields of Research (2008): | 17 Psychology and Cognitive Sciences > 1799 Other Psychology and Cognitive Sciences > 179999 Psychology and Cognitive Sciences not elsewhere classified |
| Fields of Research (2020): | 52 PSYCHOLOGY > 5299 Other psychology > 529999 Other psychology not elsewhere classified |
| URI: | https://sear.unisq.edu.au/id/eprint/52522 |
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