The present study examined the relationships among credit counseling, financial behaviors, financial stressor events, perceived financial well-being, and health. Data were collected from clients of a large credit counseling organization on two occasions, once in June 2000 and again in January 2002. Path analysis was employed to assess relationships among the variables. Credit counseling and debt management program directly affect financial stressor events in a helpful way and indirectly affect perceived financial well being and health of the participants after 18 months. Results provide some evidence of the effectiveness of credit counseling in improving financial health variables. Key Words: credit counseling, financial well being, stress.

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