Changes in Debt and Change in Marital Satisfaction

 

Dew, J. (2007). The relationship between debt change and marital satisfaction change in recently married couples. Family Relations, 57 (1), 60-71.

Brief Description: Recently married couples report debt as one of their top concerns. This study assesses how changes in consumer debt (e.g., credit card debt) relate to changes in marital satisfaction. Consumer debt assumption is associated with recently married couples’ cutting back on spending time together and arguing about money more frequently. These changes predict declines in marital satisfaction. …

Financial Education for Bankrupt Families

 

Thorne, D. & Porter, K. (2007) Financial education for bankrupt families: Attitudes and needs. Journal of Consumer Education 24, 15-27.

Brief Description: The study examines bankrupt families’ attitudes toward financial education courses and the expenses with which they are most likely to struggle after bankruptcy. Results reveal that a majority of respondents believed that a money or debt management course would have helped them avoid bankruptcy. However, respondents with college degrees, who were white, or who were older (especially 65 …

Financial Risk-taking Behavior

 

Grable, J. E., Britt, S. L. & Webb, F. J. (2008). Environmental and biopsychosocial profiling as a means for describing financial risk taking behavior. Financial Counseling and Planning, 19 (2), 3-18.

Brief Description: The study applied an intervention model of risky adolescent behavior to risky financial behaviors of adult money managers. The researchers explored the role of one’s level of affluence (referred to as the environmental profile) and his/her self-esteem and age (called the biopsychosocial profile) in financial risk-taking behavior. …

Mortgage Professionals’ Perspectives on Abusive and Predatory Lending

 

Delgadillo, L. Erickson, L.V. & Piercy K.W. (2008). Disentangling the differences between abusive and predatory lending: Professionals’ perspectives. The Journal of Consumer Affairs 42 (3), 313-334.

Brief Description: This study describes how mortgage professionals differentiate abusive from predatory lending. The results indicate that some users of this term do not always adhere to a strict definition of predatory lending, but rather use it as a term for any general mortgage abuse and mortgage fraud. Existing laws at the federal and …

Identifying Weaknesses in Practitioners’ Housing Affordability Indices

 

Jewkes, M. D. & Delgadillo, L. M. (2010). Weaknesses of housing affordability indices used by practitioners. Journal of Financial Counseling and Planning Education, 21 (1), pp. 43-52.

Brief Description:  Three housing affordability indices are commonly used to assess one’s ability to qualify for mortgages and for housing programs. Strengths and weaknesses are presented. Weaknesses include use of gross income instead of take-home pay, and no consideration of household size or preferences. The affordability ratio, paying 30 percent of one’s income …

Consumer Preferences for Car Loan Features

 

Wonder, N., Wilhelm, W., & Fewings, D. (2008). The financial rationality of consumer loan choices: revealed preferences concerning interest rates, down payments, contract length, and rebates. The Journal of Consumer Affairs, 42(2), 243-270.

Brief Description: This work studied consumer preferences for car loan features. The results revealed preferences that conflicted with traditional financial rationality. For example, participants avoided choosing long term (six- or seven-year) loans even when the interest rate was zero. In addition, the consumers, particularly those with …

Consumer Debt Repayment and Bankruptcy

 

Moorman, D. & Garasky, S. (2008) Consumer debt repayment behavior as a precursor to bankruptcy. Journal of Family and Economic Issues, 29(2), 219-233.

Brief Description: This study explores the extent to which households seek bankruptcy protection without first attempting to restructure their debt or experiencing financial distress. As was expected, results indicate that a significant relationship exists between having prior financial problems and filing for bankruptcy. Households that obtained consolidation loans were equally likely to file for bankruptcy as …

Completing Debt Management Plans

 

Xiao, J. J. & Wu, J.( 2008). Completing debt management plans in credit counseling: An application of the theory of planned behavior. Journal of Financial Counseling and Planning, 19 (2), 29-45.

Brief Description: Debt management plans offered by credit counseling agencies have the potential to benefit the consumers, the creditors, and the agencies involved. Although debtors are screened by the agencies for their likelihood of being successful, not all of the participants in debt management are able to complete the …

How Financial Assets and Consumer Debt Influence Marital Conflict

 

Dew, J. (2007) Two sides of the same coin? The differing roles of assets and consumer debt in marriage. Journal of Family and Economic Issues, 28(1), 89-104.

Brief Description: This study assessed how financial assets (e.g., savings, investments, etc.) and consumer debt (e.g., credit card debt) influence the frequency of marital conflict. Assets indirectly decrease marital conflict by decreasing feelings of financial pressure. Although consumer debt adds to feelings of financial pressure, it also directly relates to increased frequency …

Consumers’ Accuracy in Estimating their Credit Ratings

Perry, V. G. (2008), Is Ignorance Bliss? Consumer Accuracy in Judgments about Credit Ratings, The Journal of Consumer Affairs, 42(2), Summer, 189-205.

Brief Description: This study examines the accuracy of consumers’ self-assessments of their credit ratings. Findings suggest that approximately 32 percent of consumers overestimate their credit ratings while only 4 percent underestimate them. Those who overestimate their credit ratings are less knowledgeable about financial matters, are more likely to have acquired their financial knowledge from difficult past experiences, …