Table 5 FWB model knowledge and...

Table 5

FWB model knowledge and experience factors

Sub-components	Variables (see Kempson, 2017)	Retired athletes	Ireland*	Australia*	New Zealand*
Money management experience	Three variables related to ability to past experiences and time allocated to managing finances	99	89	87	86
Financial product experience	Two variables related to ability past usage of financial products (e.g. loans, mortgages, insurance) and comfort in their use	73	28	35	36
Financial product knowledge	Six variables related to understanding of the various financial products available	72	61	57	56
Understanding of risk	Three variables related to knowledge of risk in financial planning	79	71	68	71
Overall Knowledge and Experience Score (weighted average)		73	62	62	62

Sub-components	Variables (see Kempson, 2017)	Retired athletes	Ireland*	Australia*	New Zealand*
Money management experience	Three variables related to ability to past experiences and time allocated to managing finances	99	89	87	86
Financial product experience	Two variables related to ability past usage of financial products (e.g. loans, mortgages, insurance) and comfort in their use	73	28	35	36
Financial product knowledge	Six variables related to understanding of the various financial products available	72	61	57	56
Understanding of risk	Three variables related to knowledge of risk in financial planning	79	71	68	71
Overall Knowledge and Experience Score(weighted average)		73	62	62	62

Note(s): *Weighted PCA Scores; Ireland (Kempson and Poppe, 2018) and Australia and New Zealand (ANZ Banking Group Ltd, 2018). Used for comparison purposes. **Weighted PCA Score from available data

Source(s): Created by the authors

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