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Shannon Tumataroa and David O’Hare

The efficacy of family budgeting programs is often measured purely in terms of financial outcomes. There has been less research on its potential impacts on cognitive outcomes. The present study investigated whether an existing financial counseling intervention could help people improve their deliberative cognitive capacity. A community sample of participants... Read More >

Hoa Thi Nguyen

Lack of standardized measurement is one of the main factors that inhibits rigorous evaluations of financial literacy programs. However, although several scholars have developed financial self-efficacy measurements, none have been tailored for women. This article aims to develop and validate a Women’s Financial Self-Efficacy Scale (WFSES). Results showed that the... Read More >

Jamie Wagner

This study examines associations between financial education and financial literacy among people with different levels of education and income using a large, national data set, the 2015 National Financial Capability Study. This study estimates whether financial education in high school, college, or through an employer, is associated with a person’s... Read More >

Jacob A. Williams, and Russell N. James

Recent research demonstrates that personal mortality salience from annuity contemplation generates an avoidance response, reducing interest in purchasing annuities. However, theoretical models of mortality salience also predict an increased desire for investment in the future circumstances of surviving others (“symbolic immortality”), such as that provided by bequest provisions in an... Read More >

Patrick Payne, Charlene M. Kalenkoski, and Christopher Browning

This study tests whether risk tolerance mitigates the effects of credit card mismanagement on users’ financial satisfaction. We used data from the Health and Retirement Study and found results showing that credit card mismanagement reduces the financial satisfaction of lower-risk-tolerance users only. The results also suggest that the psychic costs... Read More >

Rebecca G. Chambers, Carlos J. Asarta, and Elizabeth N. Farley-Ripple

This study examines the gender gap in financial literacy by using the Financial Literacy Assessment from the OECD’s Programme for International Student Assessment (PISA). The analysis focuses on the influence of parents on their children’s understanding of financial concepts, utilizing multilevel modeling procedures to examine variance among students, within schools,... Read More >

Veronica Deenanath, Sharon M. Danes, and Juyoung Jang

Using the family financial socialization theory, this study investigated the financial knowledge and behavior of high school students’ contextualizing unintentional and purposive family financial socialization. The sample of 4,473 high school students were 51% females, 45% seniors, and ethnically diverse. A path analysis tested conceptual relationships between variables. Results indicated... Read More >

Alessandro Bucciol and Luca Zarri

We use data from a Dutch data set, the DNB Household Survey, annually covering the period 1996􂚶2015, to study the relationship between informal parental saving education received when people were children or adolescents and two variables aimed to capture adult individuals’ concerns for their future: planning horizon and future orientation.... Read More >

Xin Shi, Pauline Prevett, Valerie Farnsworth, Koo Chun Kwong, Wanggen Wan, Feng He, Qingqing Zhai, and Lu Zhen

This study develops a general method for modeling changes in response to items relating to students perceptions of personal finance and financial products. The new method is illustrated to analyze data from a sample of 1,250 students aged 16􂚶18 who participated in a financial capability education study in the UK.... Read More >

Dhannajay Bapat

In terms of future revenue stream, the potential of young adults is considered to be significant. The study is relevant to India as the segment dominates the population. The objective of the study is to examine the antecedents to financial management behavior for young adults. One hundred and sixty responses... Read More >

Mackenzie M. Festa, D. Kip Holderness Jr., A. A. Neidermeyer, and Presha E. Neidermeyer

This study explored how an alternative presentation of loan information affects financial-aid decisions among students (n = 204) at a large public university. Building from decision-aid literature and using an experimental design, we found that when financial-aid forms were formatted in a way that makes interest rates more accessible and... Read More >

Victoria M. Shelton, Thomas E. Smith, and Lisa S. Panisch

Financial therapy is used to address the psychological, emotional, and behavioral components involved in the process of learning and utilizing new financial literacy skills. This study describes the use of a manualized financial therapy financial therapy intervention, the Five-Step Model, as it is piloted in a group setting. Current economic... Read More >