Alisia G.T.T. Tran

This study examined attitudes about the relevance of retirement planning and affect associated with it (retirement involvement) of adults (18-65-years-old), taking racial/ethnic status into consideration. Drawing on online survey data, between-group significance testing revealed that racial/ethnic minority (REM; n=355) and White (n=543) participants did not differ in mean levels of... Read More >

Leslie E. Green, and Narang Park

Negative home equity is due to declines in home values, largely driven by economic factors, and increases in mortgage debt, a decision made by individuals. Yet, empirical research assessing the individual’s role in the occurrence of negative home equity is limited. This study used the 2018 National Financial Capability Study... Read More >

Jack Marley-Payne, Philip Dituri, and Andrew Davidson

A significant ongoing initiative is to identify the conditions under which financial education is most effective, as it has been shown to work much better in some circumstances than others. One factor to consider is mathematical capability, as it has been linked to improved financial knowledge and financial outcomes. In... Read More >

Gao Niu, James Bishop, and John T. Quinn

The focus of this paper is to quantitatively evaluate and compare three of the most popular defined benefit plan types based on various variable assumptions. The decision of when to retire and take a pension, or being given the option to change plans, often happens only once. This makes the... Read More >

Zibei Chen

Financial literacy scales are often used as a diagnostic tool to assess financial knowledge levels among various populations, although few of them have undergone empirical testing. This study utilized exploratory factor analysis (EFA) with a sample of Chinese rural migrant workers to identify the underlying structure of a financial literacy... Read More >

Blain Pearson, and Jae Min Lee

This study investigated the association between student debt and healthcare service usage utilizing pooled data collected from the 2015 and 2018 waves of the National Financial Capability Study. The findings of this study suggest that, when compared to those without student debt, student debt holders have a lower likelihood of... Read More >

Zibei Chen, and Terri Friedline

When the COVID-19 pandemic caused businesses to close and triggered high unemployment in 2020, millions of unbanked U.S. households, those without a bank account, had to wait for weeks and months for their stimulus checks to arrive. The delayed delivery of stimulus checks issued by the Coronavirus Aid, Relief, and... Read More >

Kyoung Tae Kim, Sunwoo Lee, and Sherman D. Hanna

This study explores financial knowledge patterns from 2009 to 2018, focusing on objective and subjective knowledge, overconfidence in financial knowledge, and “Don’t know” responses. We used four waves of National Financial Capability Study (NFCS) datasets. Objective financial knowledge was lower in 2018 than in 2009, and the proportion of individuals... Read More >

Yoon G. Lee, Paula A. Lopez, and Heather H. Kelley

Using data from the 2018 National Financial Capability Study (NFCS), this study examined the associations between financial stressors and financial behaviors, and how these associations differ by race/ethnicity. The descriptive results showed that Black and Hispanic individuals reported higher financial stressors than White and Asian/Other individuals. The regression results showed... Read More >

Yu Zhang, and Lu Fan

This study used the 2015 National Financial Capability Study to investigate the relationships among financial capability, financial education, and student loan debt outcomes. Specifically, this study examines four student loan outcomes: delinquency, stress, preparation, and satisfaction among borrowers who obtained loans for themselves. Three forms of financial capability (objective financial... Read More >

Miranda Reiter, Martin Seay, Maurice MacDonald, Sonya Lutter, and Ajamu Loving

The purpose of this study was to examine the likelihood of consumers hiring a financial planner based on race and gender utilizing an experimental design. Using a sample of Black and White MTurk respondents, cumulative logistic regression was employed to determine the effects of race and gender on the likelihood... Read More >

Julie Birkenmaier, and Qiang (John) Fu

This study examined the U.S. household financial access trends during 2012–2018 after the Great Recession of 2007–2009. Data was from a nationally representative sample (n=2,094) of adults from the American Life Panel who completed questions from the National Financial Capability Study (NFCS) in 2012 and 2018. Latent transition analysis (LTA)... Read More >