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Lu Fan and HanNa Lim

This study used the 2017 National Financial Well-Being Survey to investigate the relationship between cognitive ability and seeking financial advice. Three aspects of cognitive ability were examined: memory, objective numeracy, and subjective numeracy. The results showed that in general, the three were not associated with seeking financial advice. However, after... Read More >

Samantha Brady, Julie Miller, Alexa Balmuth, Lisa A. D’Ambrosio, and Joseph F. Coughlin

Financial self-efficacy is associated with positive financial behaviors. This study investigates factors associated with financial self-efficacy among student loan borrowers based on original data collected through an online national survey of student loan borrowers between age 25 to 75. Results revealed that perceived student loan literacy prior to accruing higher... Read More >

Lance Palmer, Evin Winkelman Richardson, Joseph Goetz, Ted G. Futris, Jerry Gale, and Karen DeMeester

Both self-efficacy and self-regulation have been connected to financial behaviors and financial outcomes of households; however, their associations have been studied independently. This study examined the association between general self-regulation (i.e., mindfulness practice, self-care behaviors, and conflict management) and financial management behavior, mediated by financial self-efficacy. Data was gathered from... Read More >

Shane Enete, Martin Seay, Sarah Asebedo, David Wang, and Megan McCoy

The purpose of this paper is to show that emotions matter when predicting the financial wellbeing of U.S. households. The broaden and build theory was used to predict that positive emotions would be positively associated with financial wellbeing and negative emotions would be negatively associated with financial wellbeing. Using a... Read More >

Edward Horwitz, Martin C. Seay, Kristy Archuleta, and Somer G. Anderson

This exploratory study employed quasi-experimental research methods to investigate the relationship between adult participation in a comprehensive workplace financial education program and changes in financial knowledge levels. Results revealed a positive association between participation in the education program and changes in financial knowledge levels, even when controlling for demographic and... Read More >

Kate Mielitz and Maurice MacDonald

There are numerous factors associated with successful reentry, but one that has not yet been addressed is financial behavior after release. This study used a primary data set collected in the fall of 2017. The theory of planned  behavior was applied to investigate post-release financial behavioral intentions of men and... Read More >

Donald Bruce Ross, Jerry Gale, Kandauda Wickrama, Joseph Goetz, Matthew James Vowels, and Yabin Tang

The deleterious nature of U.S. economic recessions over the last several decades highlight a need to investigate the role of family economic strain on families. The current study explored the impact of family economic strain on marital quality and marital stability through dyadic associations of marital support and work–family conflict... Read More >

Abed G. Rabbani, Zheying Yao, Christina Wang, and John E . Grable

Financial risk tolerance is an important personal characteristic that is widely used by financial professionals to guide the development and presentation of client-centered recommendations. As more baby boomers enter retirement, research on how these individuals perceive their willingness to take financial risks has gained importance, particularly as the focus of... Read More >

Stuart J. Heckman and Jodi C. Letkiewicz

This exploratory study examines academic and labor market risks associated with investments in higher education by synthesizing the literature regarding risky higher education choices and extending the research using the 2014 National Student Financial Wellness Study, a national sample of college students. Three phenomena are analyzed to support the notion... Read More >

Frank M. Magwegwe and HanNa Lim

Despite the importance of retirement savings, many individuals retire with lack of adequate retirement savings. While calculating retirement savings needs was found to enhance retirement savings, little is known about what underlies this enhancement. Applying the theory of planned behavior (TPB), we developed a model in which psychological factors influence... Read More >

Yiting Li, Virginia S . Zuiker, Tai J . Mendenhall, and Catherine P. Montalto

Paying for college expenses can be stressful for anyone, regardless of citizenship status. Asian American students and their parents may be negotiating with each other who will shoulder these expenses, while international Asian students often enter this country with their parents’ financial support already established. This is the first study... Read More >

Michael P. Ryan and Brenda J. Cude

Most private sector employees have access to defined contribution retirement plans while public sector employees often may choose defined benefit or defined contribution plans. This research utilized a survey of faculty to analyze retirement plan satisfaction. Advice from a financial planner was positively associated with satisfaction with portability. Retirement plan... Read More >