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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, 2022

The college year has begun, and social media is filled with images of happy parents, happy kids, decorated dorm rooms, and maybe a few tears. However, for first-generation college students, the picture can be much different. Many don't "go away" to college or have the typical four-year college experience. Instead,...

October 27, 2021

#ResearchWednesday Family Communication, Resources, and Income in Adolescence and Financial Behaviors in Young Adulthood Quick Summary: Researchers Szendrey and Fiala at Walsh University looked at the relationship between family communication and resources related to financial management behaviors of young adults ages 18 to 34. They found that parents act as...

September 01, 2021

Active-duty military members, including reservists serving under active orders, face special challenges in the timely servicing of their student loans. In recognition of this, Congress has provided legislative and regulatory relief both specific to military service as well as to public service in general. While some of these provisions are...

June 30, 2021

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, 2020

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, 2020

 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, 2019

 This study develops a general method for evaluating changes in response relating to students’ perceptions of personal finance and financial products using data from a sample of 1,250 students aged 16-18 who participated in a financial capability education study in the UK. We find significant changes in the responses of...

June 26, 2019

 In Volume 30 (1) of the Journal of Financial Counseling and Planning (JFCP), Hoa Thi Nguyen’s paper presents the development and validation of a Financial Self-Efficacy Scale that was tested with women in the United States. The Women's Financial Self-Efficacy Scale (WFSES) showed good evidence of reliability and validity. Its...

June 19, 2019

Being unbanked makes it difficult for low and moderate-income (LMI) households to manage finances, save, and access credit. In this study, we assessed effects of an online tax-time savings intervention on savings account openings in the 6 months following tax filing among a sample of 4,692 LMI tax filers. New research...

May 15, 2019