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Yingxia Caoa and Jeanny Liu

Social media play a role in the lives of young adults (18–25 years old), but motivators and influences of this and similar sources on their money handling are not well-understood. This study examined their personal finance information source choices using a non-random online survey ( N 5 229). Results of... Read More >

Mélanie L. Saari, Eileen Wood, and Katherine Wood

Work and negotiation experiences were examined among early adolescents (12–15 years) through a survey ( N 5 157) and follow-up interview ( N 5 89) conducted in two Canadian cities. Key findings, based on a mixed-method research approach, were (a) gifts were the primary income source; (b) females completed more... Read More >

Billy J. Hensley, Jesse B. Jurgenson, and Lisa-Anne Ferris

Financial education is an important area of study due in part to the need for improved understanding of how to navigate an ever more complex financial decision-making environment, thus the need for effective classroom instruction. The purpose of this study is to examine a “teacher-as-learner” professional development program that is... Read More >

Lekhnath Chalise and Sophia Anong

This study investigated whether spending habits before and during the Great Recession predicted financial distress. Financial distress was defined as failing to make mortgage and non-mortgage loan payments on time. Data from the 2007–2009 panel of the Survey of Consumer Finances revealed that one’s prerecession spending habit did not seem... Read More >

Masha Ksendzova, Grant E. Donnelly, and Ryan T. Howell

Money management is essential for financial health, and more research is needed to better assess people’s money management practices. Therefore, we factor-analyzed 205 scaled questions from previous money management measures to select the best items and examined their internal consistency and convergent validity. Our resulting 18-item Brief Money Management Scale... Read More >

Hanna Carlsson, Stefan Larsson, Lupita Svensson, and Fredrik Åström

This literature review seeks to map the state of research on the effects of digitization on personal financial behavior and management through a bibliometric analysis and a systematic literature review. The findings indicate that current knowledge is primarily based on perspectives of actors in commerce and systems development. More research... Read More >

Lu Fan and Swarn Chatterjee

This study uses the 2009 National Financial Capability Study dataset to examine the factors associated with information search behavior by consumers when applying for a loan. The results indicate that financial literacy, perceived financial knowledge, educational attainment, and engaging the services of a financial professional are positively associated with the... Read More >

Qianwen Bi, Michael Finke, and Sandra J. Huston

Financial software offers an appealing substitute for an investment in complex financial knowledge to help individuals make better financial decisions. Little is known, however, about which consumers use financial software and whether the use of financial software results in improved financial outcomes. Using data from the 2008 National Longitudinal Survey... Read More >

Michael A. Guillemette and Jesse B. Jurgenson

The purpose of this study is to investigate whether a professional designation affects consumer choice behavior within the area of investment decision making. Forty-six participants were endowed with real money and received hypothetical investment advice from a certified financial planner (CFP) Professional and a stockbroker. Among low-income households, advice from... Read More >

Abed G. Rabbani, John E. Grable, Wookjae Heo, Liana Nobre, and Stephen Kuzniak

This study investigated the degree to which the financial risk tolerance of individuals was influenced by volatility in the U.S. equities market during the period of the Great Recession. Based on data from a valid and reliable risk tolerance scale and return information for the Standard and Poor’s (S&P) 500... Read More >

Irene McIvor Mason, Amanda Izenstark, and Jing Jian Xiao

Since its first issue published in 1990, Journal of Financial Counseling and Planning (JFCP) has been expanding its impact and reach by connecting financial educators, counselors, coaches, and planners to important scholarly research related to the financial decision-making of consumers in a complex and continuously evolving financial climate. JFCP’s publications... Read More >