Week5BlogPostAssignment2

This week, my research question is still in the developing stage and I hope it will get approved. However since my first question did not, I am hoping my change in direction with it will suffice for a solid research foundation. Focusing more on the levels of financial literacy within different societies instead of on a stagnant subject of financial education for entrepreneurs has broaden my scope. Through my empirical research assignment this week, I have found that many factors can adversely effect business decision making for the good and the bad. By having not only basic financial knowledge but current societal financial knowledge, a entrepreneur can make better decisions. Risk taking is a volatile way to handle business on any level when uninformed about the current financial market state. The article cites that in 2008 financial illiteracy is increasingly widespread among the American population, particularly in special demographic groups. Typically, financial literacy is especially low in the case of those with a lower education, women, Hispanics, and Afro-Americans. This is really interesting to me and I would love to do a deeper analysis on this subject. This other article that mentioned this information was written by another author which I would also like to look up and read more of her studies. I think my topic can go a number of ways which is why I need to stay focused on my question at hand and not get side tracked by other issues within financial literacy. Overall, I am very happy with what I have learned and found through my research and I think my skills have gotten better through reading supplementary tips for this week. It has helped me to sharpen my skills and helped me to be more efficient when searching for reliable sources and articles. I think I still have more to learn but I am definitely on the right track.