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Robin Henager  and Brenda J. Cude

The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18–24, 25–34, 35–44, 45–54, 55–64, and... Read More >

Radha Bhattacharya, Andrew Gill, and Denise Stanley

We examine improvements in financial knowledge for 8th-grade participants in our financial fitness camp, part of our multifaceted financial literacy program. Eighty-three students enrolled in the camp, and 59 had individual development accounts (IDA). We address several issues raised in the literature by focusing on low-income, predominantly Hispanic students, varying... Read More >

Crystal C. Hall and Jennifer L. Romich

Low- and moderate-income tax filers often receive refund and tax credit checks that easily total a fifth or more of their total annual income. This study uses data collected in 2009 and 2010 from 79 clients of a volunteer income tax assistance (VITA) program to compare filers’ estimates of their... Read More >

Kimberlee Davis and Rodney C. Runyan

The purpose of this study was to explore personality determinants of financial satisfaction using the Metatheoretic Model of Motivation and Personality (3M Model) as a theoretical framework. Such a framework can help researchers identify traits associated with financial satisfaction and ultimately assist practitioners working with clients on debt management and... Read More >

Sharon M. Danes, Jennifer Garbow, and Becky Hagen Jokela

Study investigates distal and proximal contextual influences of the American Indian culture that affect financial decisions and behaviors. Primary household financial managers were interviewed. Study was grounded in Deacon and Firebaugh’s Family Resource Management theory. Findings indicated that American Indians view many concepts differently than conventional disciplinary meanings. Most critical... Read More >

Stephanie Heuring Horner, Catherine A. Solheim, Virginia Solis Zuiker, and Jaime Ballard

This study examined the link between overindulgence and buying impulsiveness and the link between buying impulsiveness and credit card misuse among undergraduate students from 2 Midwestern universities. Hierarchical multiple regression was used to examine these relationships. Overindulgence predicted buying impulsiveness when controlling for the effects of age, race, gender, public... Read More >

Shan Lei and Rui Yao

Using data from the 2013 Survey of Consumer Finances, this study evaluates the potential effect of using financial planners on household portfolio performance, which was measured by Sharpe Ratio. Results revealed that households that reported using financial planners demonstrated better portfolio performance than those that did not. This lends empirical... Read More >

Jr-Tsung Huang, Xin Xu, and Tsun-Feng Chiang

The purpose of this study is to examine factors associated with households’ willingness to take financial risks, particularly the effect of households’ expectations. The data used in this study are the Survey of Consumer Finances 2007 by which researchers can examine the household financial issues before the financial crisis. By... Read More >

Travis L. Jones, Steve P. Fraser, and J. Howard Finch

Financial planners face a consistent challenge to help clients understand the trade-off between risk and return. Most clients relate to the idea of a targeted level of expected return to achieve specific wealth goals but with limited understanding of the required risk. Extended investment horizons require client discipline when market... Read More >

Leon Chen and Roger Severns

We conducted an annual survey of undergraduate students taking finance courses over the past 5 years (2009–2014). Our results showed that although more than 70% of students considered the financial planning profession to some extent, the percentage of students who had seriously considered it declined over time, despite the increasing... Read More >