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Keith A. Moreland

Advice from financial counselors is one potential source for improving financial behaviors and well-being among clients and within their communities. This study examined whether obtaining financial advice is associated with other personal financial behaviors. Analysis of National Financial Capability Study data showed that obtaining advice is positively associated with financial... Read More >

Judith Aboagye and Ji Young Jung

This study examined factors associated with financial satisfaction and found that financial behaviors/attitudes provide the strongest explanation for the total variance in financial satisfaction. While overspending had a strong negative association with financial satisfaction, having a higher risk tolerance, no difficulty with monthly bill payments, and savings in an emergency... Read More >

Mathieu Despard, Michal Grinstein-Weiss, Anna deRuyter, Shenyang Guo, Jane E. Oliphant, and Terri Friedline

Being unbanked makes it difficult for low and moderate-income (LMI) households to manage finances, save, and access credit. 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. Treatment group participants had... Read More >

Tao Guoa and Michael Finke

Many who want to save more for retirement are tripped up by short-run temptations. Yet, some can still achieve their goals by using commitment devices to limit suboptimal behavior. Defined contribution plans in the United States resemble a commitment device because they are framed as savings for the future and... Read More >

Che Cheong Poona and Fuk Kin Joe Wong

This article argues for the establishment of a defined benefit and partially funded universal pension system. The characteristics of this system represent a publicly managed mandatory contributory pension plan and the coverage of its benefits for all Hong Kong elderly aged above 65. By applying a mathematical model which links... Read More >

Ashley B. LeBaron, Christina M. Rosa-Holyoak, L. Ashley Bryce, E. Jeffrey Hill, and Loren D. Marks

Many Millennials (aged 18–30 in 2016) are struggling with financial capability and independence. As efforts unfold to address this issue by improving financial education, Millennials themselves can offer helpful family-centered ideas for children’s financial learning. As part of the Whats and Hows of Family Financial $ocialization project, this qualitative study... Read More >

Emily J. Huang, Reka A. Lassu, and Kenny K. Chan

This study investigated Millennials’ source selection while searching for financial information to improve financial well-being. Results from an online survey of 488 business students at a Western U.S. university showed that Millennials used multiple sources when looking for financial information, but only sources whose perceived attributes fit the seekers’ preferences... Read More >

Julie Szendrey and Laci Fiala

This research examined how perceived economic mobility (PEM) relates to domain-specific behaviors of financial management, specifically cash management, credit management, and savings and investment, for a sample of 1,245 young adults age 18–34. Using data collected by an online survey administration organization, research results indicated a significant positive relationship between... Read More >

Rui Yao and Xiangyi Meng

Credit cards have become a common method of payment for college students in China. It is important that they form good credit card usage behaviors and build a good credit history early in their financial life. Using data collected from 10 universities in China, results of this study found that... Read More >

Katherine (Kate) S. Mielitz, Maurice MacDonald, and Meghaan Lurtz

We obtained 180 pre- and post-test surveys to investigate how an established financial literacy program may have increased financial knowledge of residents in a work release program in Augusta, Georgia. Paired t tests analyzed changes in subjective and objective financial knowledge, understanding of banking and credit, and financial attitudes. OLS... Read More >

Alex Yue Feng Zhu and Kee Lee Chou

This study investigated the relationship between retirement saving needs estimation and the amount of self-reported private retirement savings amassed by working-age adults in Hong Kong, China, by focusing on the mediating role of retirement saving needs estimation between retirement goal clarity and the amount of private retirement savings. Based on... Read More >

Michelle Reyers

Concerns regarding the adequacy of retirement savings have contributed to the move to encourage better savings behavior. One area of research focuses on understanding the profile of individuals who believe they are preparing adequately for retirement. The current study uses data from a national survey of South Africans to determine... Read More >