#ResearchWednesday: The Gap in Financial Literacy in the Latinx Community
BackgroundMigration is primarily an economic phenomenon and occurs in stages; first geographical which takes little time, and then cultural which may take decades; it’s called assimilation. Assimilating the ways by which Americans manage their money has proven to be particularly difficult for Hispanics and contributes to the significant wealth gap...
October 12, 2022Read More >
#ResearchWednesday: Public Service Loan Forgiveness…Has this program been redeemed?
This article was written before Biden announced the loan forgiveness executive order. Quick Summary With millions of baby boomers approaching retirement age and thereby leaving the workforce, the Public Service Loan Forgiveness Program (PSLF) was created to increase the applicant pool for government and non-profit jobs. PSLF is a federal...
October 05, 2022Read More >
#ResearchWednesday: Financial stress and depression in adults: A systematic review
Can financial counseling be used as a tool to help alleviate financial-related depression symptoms in adults? Quick Summary The literature examined by the authors considered the relationship between financial stressors and mood disorders–specifically, depression. They found that generally financial stress is positively related to depression symptoms. In addition, three key...
June 15, 2022Read More >
To Robo or not to Robo, is that the question?
#ResearchWednesday New! AFCPE’s Research to Practice Task Force is now contributing regular articles to AFCPE’s blog. These articles are designed to summarize research, share personal realizations from a practitioner point of view, and encourage dialogue between researchers, practitioners, and educators. As you read research, ask yourself: What’s your “Aha moment?”...
March 24, 2021Read More >
#ResearchWednesday: Research Shouldn’t Be on the Naughty List
Guest Contributor: Sasha Grabenstetter Continue the Conversation: Tell us what you think in the comments below or on Twitter.
December 16, 2020Read More >
#ResearchWednesday: Retaining Clients
The shift from traditional defined benefit plans to defined contribution plans has changed the personal financial planning landscape significantly. Today, many individuals look to financial professionals such as advisors for guidance on establishing financial goals, investing, and identifying the right financial products for protection against an uncertain future. The services...
February 19, 2020Read More >
#ResearchWednesday: Financial ratios and financial satisfaction
Exploring associations between objective and subjective measures of financial well-being among older Americans.Financial planners and counselors use various methods to measure individuals’ financial situations. One method is to calculate financial ratios and compare them to benchmarks recommended by financial professionals.This study examines three financial ratios including the liquidity ratio, the...
February 12, 2020Read More >
#ResearchWednesday: Financial Knowledge, Confidence, Credit Use, & Financial Satisfaction
In our article, “Financial Knowledge, Confidence, Credit Use, and Financial Satisfaction” we investigate the associations between consumers’ confidence in their financial knowledge and their financial behaviors and financial satisfaction. We observe that in order for customers to use their financial knowledge when making credit card use decisions, they must be...
February 05, 2020Read More >
#ResearchWednesday: How do money-lessons taught by family at an early age affect the development of money habits and skills?
Financial literacy has become a popular topic of study and research. For several years now, academics have advocated for more financial literacy education in schools, and public funding for other such programs. At face value, this seems like a good thing: the more financial education the better. But this assumes...
December 04, 2019Read More >
#ResearchWednesday: Your money or your values? Young Adults’ Relationship Choice
Today, more couples are delaying marriage. Many are choosing to cohabit before marriage or instead of marrying, and this is especially true among young adults. Money, specifically not enough of it, is often cited as a reason for this decision. Our study explored this possibility with survey data from 424...
October 23, 2019Read More >
#ResearchWednesday: Counselors share lessons about working with diverse clients
At times financial counseling with culturally diverse clients may seem daunting and counselors may be unsure of how best to connect with their clients and help them effectively. This was true for some of the counselors we interviewed as part of our research, "Financial Counselors’ Experiences Working with Clients of...
October 09, 2019Read More >
#ResearchWednesday: Risk Tolerance and the Financial Satisfaction of Credit Card Users
What makes people unhappy with their credit cards? Surprisingly, it’s not the interest charges. This paper finds that what causes people stress and dissatisfaction with their credit cards has to do with how they use the cards more than how much the cards actually wind up costing. Being late on...
July 03, 2019Read More >