This article examined the relationship of household financial behaviors and accesses. Using the 2015 National Financial Capability Study, the current study conducted latent class analysis of financial behaviors to identify latent classes (N = 27,564). The distribution of access was investigated among latent classes, which were regressed on the…

This study explores the association between financial knowledge and financial fragility. Data from the 2015 National Financial Capability Study were used to create an index of financial fragility. Relationships between this index and three different measures of financial knowledge were assessed. To mitigate potential endogeneity in the financial…

Why do people give away their money? Charitable giving has traditionally been modeled using socioeconomic (i.e., age, income, education) and psychographic variables (i.e., self-esteem, guilt, pity). However, given that charitable giving is, inherently, a financial activity, would financial variables with a psychographic element (i.e., financial…

Using consumer socialization theory, this study examined the associations between perceived influence of parents, peers, employment, and media and spending behaviors of emerging adult college students from three different regions of the US: Northeast, South Atlantic, and Mountain regions. Data from the Emerging Adult Financial Capability Study (N…

This article describes the current status and trends in the past three decades (1990-2019) of the Journal of Financial Counseling and Planning (JFCP). Since its first issue published in 1990, JFCP has become a major research outlet in consumer finance. The journal publishes cutting-edge, peer-reviewed, original research papers on consumer…

This article examines potential consumer harm that may arise due to regulating modern financial services communication technology with rules written in the early 20th century. It is argued that disparities in record keeping regulation across communication mediums disincentivizes the use of technology capable of generating records for consumer…

A large fraction of South African consumers are highly leveraged, inadequately insured, and/or own little to no assets of value, which increases their exposure not only to idiosyncratic risk but also to severe indebtedness and/or default. This scenario can present negative ramifications that lead well beyond the confines of individual households.…

This study develops a conceptual framework to investigate the relationship between households' information search behavior and financial management outcomes. Consumers' information search behavior is examined from both internal and external perspectives. The internal information sources include human capital and psychological and attitudinal…

This position article proposes that bankruptcy counseling and education should be tailored so that bankrupts and consumer debtors can attain "solvency literacy," a new construct developed for this initiative. They need to (a) handle their financial affairs "during" the insolvency process while (b) concurrently striving for a…

Using the 2007-2009 Survey of Consumer Finances panel dataset, we investigate whether and how changes in perceived income and saving motives are related to demand for household savings in the United States after the Great Recession. Households that perceive their current income as lower, relative to normal years are less likely to save than those…

This article investigates associations between confidence about financial knowledge and two outcome variables, financial behaviors and financial satisfaction. On one hand, subjective financial knowledge (confidence) is necessary to make proactive decisions, yet overconfidence has been associated with a range of negative financial behaviors and…

This article uses a random digit dial probability sample (N = 328) to examine the relationship between credit card use behaviors and household well-being during a period of severe economic recession: The Great Recession. The ability to measure the role of credit card use during a period of recession provides unique insights to the study of credit…

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 is…

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…

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…