재무교육 및 재무상담에 대한 소비자요구와 선호분석

Abstract

Financial education and financial counseling are useful tools for improvement of financial capability and financial well-being. However, financial education and counseling have not only similarities but also differences in their goals, the relationships between the educators or counselors and clients, and their effects, Because of the differences, education may be more appropriate for some topics or some consumers while counseling may be better way for the other topics or consumers. The purpose of this study was to compare the needs for financial education and financial counseling in their subject areas. The results can give useful information on what subjects are needed by education and counseling. The results will also give the answer the question, “which is the better way between education and counseling for each subject and consumers with different characteristics?”The data of the study came from the 2008 Fund Investor Survey of Korea Investors Protection Foundation. Total number of the sample was 2,530 who lived in Seoul and 6 metropolitan areas of Korea. The sample was consisted of relatively large proportions of young, unmarried and high income consumers compared the census result. The need level was measured by 4score Likert scale for 11 financial subject areas ; saving, fund investment, stock and bond investment, credit management, tax management, risk management, retirement planning, money preparation for business, real estate investment, income and expense management, and estate planning. For the statistical analysis, paired t-test, correlation, multiple regression analysis and multinomial logistic analysis were utilized using SPSS. The main results are as follows: The need levels for both education and counseling are high. The ranks of the topic needs for financial education and financial counseling are very similar. The education and counseling needs for retirement planning, tax management and real estate investment are the highest. But the need level for education is greater than that of counseling. For all topics, the need for education is greater than the need for counseling. This result implies that education can be more effective. The correlations between the needs for education and counseling are very high, which means that counseling need is also high if education need is high. Even though education need is generally greater than counseling need, counseling also may be more effective for some subject areas and for some clients. Credit management is an example topic for which counseling need is greater than other topics. The factors affecting the need for financial education are very similar with those affecting the need for financial counseling. Age, educational level, marital status, number of household members, home ownership, financial assets, debt and financial counseling experience are significant factors for both needs. The need is greater for the younger, educated and married persons with larger sized family, greater financial assets and debt, and financial counseling experience. The percentage of the consumer group that prefers financial education to counseling is the biggest in general whereas the percentage of the group with no preference is the highest for each topic. The factors influencing the preferences for education and counseling are different. The probability to belong to the consumer group who prefer for education is increased if the age of the consumers are over 50s, their financial assets are greater and they have no counseling experience. On the other hands, the probability to belong to the consumer group who prefer for counseling is higher for the consumer who is female, wage earner and living in a small family. This result shows that different consumer characteristics can be considered to plan the financial education and counseling.