Objective

Decades of research have established how to measure metacognition (i.e., awareness of one’s cognitive abilities), whereas relatively little is known about how to assess the integrity of financial awareness (FA; awareness of one’s financial abilities), a related construct with practical implications for vulnerable older adults. The current study’s goal was to apply established metacognitive frameworks to identify an objective measure of FA.

Methods

Metacognitive ratings were integrated into two financial decision making (FDM) assessments in order to derive two types of FA metrics: absolute accuracy (calibration) and relative accuracy (resolution) in each FDM task. Associations between each FA metric, demographic variables, FDM performances, and metamemory were examined.

Design & setting

Cross-sectional, community-based, prospective study.

Participants

93 individuals with mean age = 59 years (SD = 15.12); mean education = 15.70 (SD = 2.39); 60% females.

Measures

FA was calculated using the Financial Competency Assessment Inventory (FCAI) and Decision Making Competence Assessment Tool, Finance Module (DMC-F), and memory awareness was calculated using an objective metamemory test.

Results

None of the FA metrics was associated with age, education or gender. FCAI calibration was inversely associated with FDM, and positively correlated with DMC-F calibration and metamemory calibration. None of the FA metrics for DMC-F was associated with metamemory.

Conclusions

Mirroring findings from metamemory studies, overconfidence in FDM was associated with lower FDM accuracy in healthy adults. Moreover, calibration scores on the FCAI and metamemory were related, suggesting that FA taps into metacognitive abilities. Our findings provide preliminary evidence for how to measure FA in both clinical and research contexts.

中文翻译：

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健康成年人财务决策能力的自我意识。

 客观的

数十年的研究已经确定了如何测量元认知（即，对一个人的认知能力的认识），而对于如何评估财务意识（FA；对一个人的财务能力的认识）的完整性知之甚少，这是一个对金融领域具有实际意义的相关概念。弱势老年人。当前研究的目标是应用已建立的元认知框架来确定 FA 的客观衡量标准。

 方法

元认知评级被整合到两项财务决策 (FDM) 评估中，以便得出两种类型的 FA 指标：每个 FDM 任务的绝对准确性（校准）和相对准确性（分辨率）。检查了每个 FA 指标、人口统计变量、FDM 性能和元记忆之间的关联。

 设计与设定

横断面、基于社区的前瞻性研究。

 参加者

93 人，平均年龄 = 59 岁 (SD = 15.12)；平均教育程度 = 15.70 (SD = 2.39)； 60%为女性。

 措施

使用财务能力评估清单（FCAI）和决策能力评估工具、财务模块（DMC-F）计算 FA，并使用客观元记忆测试计算记忆意识。

 结果

FA 指标均与年龄、教育程度或性别无关。 FCAI 校准与 FDM 呈负相关，与 DMC-F 校准和元记忆校准呈正相关。 DMC-F 的 FA 指标均与元记忆无关。

 结论

与元记忆研究的结果相呼应，健康成年人对 FDM 的过度自信与 FDM 准确性较低有关。此外，FCAI 和元记忆的校准分数相关，表明 FA 可以利用元认知能力。我们的研究结果为如何在临床和研究环境中测量 FA 提供了初步证据。