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Financial attitudes, knowledge, and habits of chiropractic students: A descriptive survey

Publication ,  Journal Article
Lorence, J; Lawrence, DJ; Salsbury, SA; Goertz, CM
Published in: Journal of the Canadian Chiropractic Association
January 1, 2014

Objective: Our purpose was to describe the financial knowledge, habits and attitudes of chiropractic students. Methods: We designed a cross-sectional survey to measure basic financial knowledge, current financial habits, risk tolerance, and beliefs about future income among 250 students enrolled in business courses at one US chiropractic college. Descriptive statistical analyses were performed. Results: We received 57 questionnaires (23% response rate). Most respondents would accumulate over $125,000 in student loan debt by graduation. Financial knowledge was low (mean 77%). Most respondents (72%) scored as average financial risk takers. Chiropractic students reported recommended short-term habits such as having checking accounts (90%) and health insurance (63%) or paying monthly bills (88%) and credit cards (60%). Few saved money for unplanned expenses (39%) or long-term goals (26%), kept written budgets (32%), or had retirement accounts (19%). Conclusion: These chiropractic students demonstrated inadequate financial literacy and did not engage in many recommended financial habits.

Duke Scholars

Published In

Journal of the Canadian Chiropractic Association

EISSN

1715-6181

ISSN

0008-3194

Publication Date

January 1, 2014

Volume

58

Issue

1

Start / End Page

58 / 65

Related Subject Headings

  • 1104 Complementary and Alternative Medicine
 

Citation

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MLA
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Lorence, J., Lawrence, D. J., Salsbury, S. A., & Goertz, C. M. (2014). Financial attitudes, knowledge, and habits of chiropractic students: A descriptive survey. Journal of the Canadian Chiropractic Association, 58(1), 58–65.
Lorence, J., D. J. Lawrence, S. A. Salsbury, and C. M. Goertz. “Financial attitudes, knowledge, and habits of chiropractic students: A descriptive survey.” Journal of the Canadian Chiropractic Association 58, no. 1 (January 1, 2014): 58–65.
Lorence J, Lawrence DJ, Salsbury SA, Goertz CM. Financial attitudes, knowledge, and habits of chiropractic students: A descriptive survey. Journal of the Canadian Chiropractic Association. 2014 Jan 1;58(1):58–65.
Lorence, J., et al. “Financial attitudes, knowledge, and habits of chiropractic students: A descriptive survey.” Journal of the Canadian Chiropractic Association, vol. 58, no. 1, Jan. 2014, pp. 58–65.
Lorence J, Lawrence DJ, Salsbury SA, Goertz CM. Financial attitudes, knowledge, and habits of chiropractic students: A descriptive survey. Journal of the Canadian Chiropractic Association. 2014 Jan 1;58(1):58–65.

Published In

Journal of the Canadian Chiropractic Association

EISSN

1715-6181

ISSN

0008-3194

Publication Date

January 1, 2014

Volume

58

Issue

1

Start / End Page

58 / 65

Related Subject Headings

  • 1104 Complementary and Alternative Medicine