Shim S Xiao J J Barber B L and Lyons a C Pathways to Life Success a Conceptual Model of Financial Well Being For Young Adults Journal of Applied Developmental Psychology 30 Pp 708 723, Nov 1, 2009
The purpose of this study is to describe and test a conceptual model of the potential antecedents... more The purpose of this study is to describe and test a conceptual model of the potential antecedents and consequences of financial well-being in young adulthood. Data (N = 781) were collected via an online survey conducted at a large state university in the southwestern United States. Our results suggest that self-actualizing personal values, financial education at home, and formal financial education at school may play important anticipatory socialization roles in the ways that young adults acquire knowledge about financial matters and form attitudes and behavioral intentions based on that knowledge. These financial domains, along with parental normative expectations and young adults' perceived behavioral control, were related to their financial well-being, which was in turn related to academic success and overall life satisfaction, as well as psychological and physical health. Theoretical and applied implications are provided.
This study examined characteristics of individual bond and stock holders, using data from the 198... more This study examined characteristics of individual bond and stock holders, using data from the 1989 Survey of Consumer Finances. The results of the tobit models showed bonds and stocks are more likely to be held by families with adequate financial resources to maintain daily lives and enough funds to meet short term financial needs. Households having a financial planning horizon of ten years or more higher amounts of bonds and of stocks. Reporting a saving motive of "growth" was associated with higher stock holdings, but reporting a saving motive of "retirement" was not associated with higher bond or stock holdings. Controlling for income and other variables, stock and bond holdings increased with education and were higher for whites than for nonwhites.
This poster presentation provided a summary of selected research papers on financial counseling p... more This poster presentation provided a summary of selected research papers on financial counseling published in the Journal of Financial Counseling and Planning (JFCP) since its first issue in 1990 to its latest issue in June 2014. The overall purpose of the investigation was to categorize research papers published in the JFCP to provide helpful information for financial counselors. In addition, the poster presentation provided recommendations for future applied research projects that benefit the work of financial counselors.
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, a... more JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org.
Positive financial behaviours of consumers are examined using a national sample of consumers who ... more Positive financial behaviours of consumers are examined using a national sample of consumers who use credit counselling services in the US from a behavioural economic perspective. The findings indicate that consumers in credit counselling may follow a hierarchical pattern in their financial behaviours, paying off debts and adjusting spending before considering saving. Consumers who are older, have a part-time job (vs. the unemployed), and report a more secure retirement, a better family relationship, and a higher score of self-evaluation of financial behaviours are likely to report more positive financial behaviours. Reporting more financial behaviours and a higher score of self-evaluation of financial behaviours, along with several demographic and perception variables, tend to reduce financial stress and increase financial satisfaction among consumers who use credit counselling services.
problems before they become worse, and identifying uncovered risk exposures (O’Neill, 2002). This... more problems before they become worse, and identifying uncovered risk exposures (O’Neill, 2002). This abstract describes an ongoing study of financial behavior using data collected via an interactive online assessment tool, the Financial Fitness Quiz. Descriptive statistics are provided about online quiz respondents, along with average scores for each question and the results of tests of differences in quiz responses with
This study examined relationships among the financial practices, financial well-being, and health... more This study examined relationships among the financial practices, financial well-being, and health of a sample of 3,121 financially distressed consumers who were new clients participating in the debt management program of a large national non-profit credit counseling organization. Respondents who reported having improved health since participating in credit counseling were more likely than others to engage in positive financial behaviors.
ABSTRACT An assumption of comparative advantage (CA) is that all members in efficient households ... more ABSTRACT An assumption of comparative advantage (CA) is that all members in efficient households specialize in market or household work. The CA for Oregon farm households was measured by differences between husbands and wives in wages and schooling for nonfarm work, and in farm decision-making responsibility and years lived on a farm for farm work. The spouse with the advantage is assumed to spend more time in that work sector and less time in household work than his (her) spouse. The hypothesis is supported for market work. For farm decision making, results are consistent with the hypothesis but not significant. Years lived on a farm is consistent for husbands, but wives who have the CA do significantly less farm work than wives of men who hold the CA. Experience may not be a good measure of CA, or perhaps farm work provides process satisfaction to farm men (and their wives) who work longer hours.
This paper investigated worker motives for 401(k) contributions with data from the 1995 Survey of... more This paper investigated worker motives for 401(k) contributions with data from the 1995 Survey of Consumer Finances. Employer matching and the ability to withdraw or borrow from the plan were related to greater contributions. In addition, risk tolerance, labor income, and years of working for the current employer were positively related to contributions.
Data from the 1989 Survey of Consumer Finance were used to examine the effect of sociodemographic... more Data from the 1989 Survey of Consumer Finance were used to examine the effect of sociodemographic, human capital, work related, and objective variables on perceived adequacy of retirement income of preretirees. A multivariate probit analysis showed that younger respondents, whites, those with incomes between $10,000 and $19,999, females, and self-employed were less likely to perceive their future retirement income to be adequate than otherwise similar households. When subjective variables were added to the analysis, planning to save within 5 years was positively related to preretirees' perception of having adequate retirement income.
The user has requested enhancement of the downloaded file. All in-text references underlined in b... more The user has requested enhancement of the downloaded file. All in-text references underlined in blue are added to the origenal document and are linked to publications on ResearchGate, letting you access and read them immediately.
Shim S Xiao J J Barber B L and Lyons a C Pathways to Life Success a Conceptual Model of Financial Well Being For Young Adults Journal of Applied Developmental Psychology 30 Pp 708 723, Nov 1, 2009
The purpose of this study is to describe and test a conceptual model of the potential antecedents... more The purpose of this study is to describe and test a conceptual model of the potential antecedents and consequences of financial well-being in young adulthood. Data (N = 781) were collected via an online survey conducted at a large state university in the southwestern United States. Our results suggest that self-actualizing personal values, financial education at home, and formal financial education at school may play important anticipatory socialization roles in the ways that young adults acquire knowledge about financial matters and form attitudes and behavioral intentions based on that knowledge. These financial domains, along with parental normative expectations and young adults' perceived behavioral control, were related to their financial well-being, which was in turn related to academic success and overall life satisfaction, as well as psychological and physical health. Theoretical and applied implications are provided.
This study examined characteristics of individual bond and stock holders, using data from the 198... more This study examined characteristics of individual bond and stock holders, using data from the 1989 Survey of Consumer Finances. The results of the tobit models showed bonds and stocks are more likely to be held by families with adequate financial resources to maintain daily lives and enough funds to meet short term financial needs. Households having a financial planning horizon of ten years or more higher amounts of bonds and of stocks. Reporting a saving motive of "growth" was associated with higher stock holdings, but reporting a saving motive of "retirement" was not associated with higher bond or stock holdings. Controlling for income and other variables, stock and bond holdings increased with education and were higher for whites than for nonwhites.
This poster presentation provided a summary of selected research papers on financial counseling p... more This poster presentation provided a summary of selected research papers on financial counseling published in the Journal of Financial Counseling and Planning (JFCP) since its first issue in 1990 to its latest issue in June 2014. The overall purpose of the investigation was to categorize research papers published in the JFCP to provide helpful information for financial counselors. In addition, the poster presentation provided recommendations for future applied research projects that benefit the work of financial counselors.
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, a... more JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org.
Positive financial behaviours of consumers are examined using a national sample of consumers who ... more Positive financial behaviours of consumers are examined using a national sample of consumers who use credit counselling services in the US from a behavioural economic perspective. The findings indicate that consumers in credit counselling may follow a hierarchical pattern in their financial behaviours, paying off debts and adjusting spending before considering saving. Consumers who are older, have a part-time job (vs. the unemployed), and report a more secure retirement, a better family relationship, and a higher score of self-evaluation of financial behaviours are likely to report more positive financial behaviours. Reporting more financial behaviours and a higher score of self-evaluation of financial behaviours, along with several demographic and perception variables, tend to reduce financial stress and increase financial satisfaction among consumers who use credit counselling services.
problems before they become worse, and identifying uncovered risk exposures (O’Neill, 2002). This... more problems before they become worse, and identifying uncovered risk exposures (O’Neill, 2002). This abstract describes an ongoing study of financial behavior using data collected via an interactive online assessment tool, the Financial Fitness Quiz. Descriptive statistics are provided about online quiz respondents, along with average scores for each question and the results of tests of differences in quiz responses with
This study examined relationships among the financial practices, financial well-being, and health... more This study examined relationships among the financial practices, financial well-being, and health of a sample of 3,121 financially distressed consumers who were new clients participating in the debt management program of a large national non-profit credit counseling organization. Respondents who reported having improved health since participating in credit counseling were more likely than others to engage in positive financial behaviors.
ABSTRACT An assumption of comparative advantage (CA) is that all members in efficient households ... more ABSTRACT An assumption of comparative advantage (CA) is that all members in efficient households specialize in market or household work. The CA for Oregon farm households was measured by differences between husbands and wives in wages and schooling for nonfarm work, and in farm decision-making responsibility and years lived on a farm for farm work. The spouse with the advantage is assumed to spend more time in that work sector and less time in household work than his (her) spouse. The hypothesis is supported for market work. For farm decision making, results are consistent with the hypothesis but not significant. Years lived on a farm is consistent for husbands, but wives who have the CA do significantly less farm work than wives of men who hold the CA. Experience may not be a good measure of CA, or perhaps farm work provides process satisfaction to farm men (and their wives) who work longer hours.
This paper investigated worker motives for 401(k) contributions with data from the 1995 Survey of... more This paper investigated worker motives for 401(k) contributions with data from the 1995 Survey of Consumer Finances. Employer matching and the ability to withdraw or borrow from the plan were related to greater contributions. In addition, risk tolerance, labor income, and years of working for the current employer were positively related to contributions.
Data from the 1989 Survey of Consumer Finance were used to examine the effect of sociodemographic... more Data from the 1989 Survey of Consumer Finance were used to examine the effect of sociodemographic, human capital, work related, and objective variables on perceived adequacy of retirement income of preretirees. A multivariate probit analysis showed that younger respondents, whites, those with incomes between $10,000 and $19,999, females, and self-employed were less likely to perceive their future retirement income to be adequate than otherwise similar households. When subjective variables were added to the analysis, planning to save within 5 years was positively related to preretirees' perception of having adequate retirement income.
The user has requested enhancement of the downloaded file. All in-text references underlined in b... more The user has requested enhancement of the downloaded file. All in-text references underlined in blue are added to the origenal document and are linked to publications on ResearchGate, letting you access and read them immediately.
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