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, …

Credit Card Ownership by High School Seniors

Scott, R. H., Jr. (2010). Credit Card Ownership Among American High School Seniors: 1997-2008. Journal of Family and Economic Issues, 31, 151-160.

Brief Description: High school is when many students get their first credit cards. Jump$tart for Financial Literacy has tested the personal financial knowledge of high school students from across the U.S. since 1997. Using data from the Jump$tart surveys, this study compared the characteristics of various groups of high school students with and without credit cards. Students with …

Forbearance Plans for Credit Card Accounts

Agarwal, S., Chomsisengphet, S. & Mielnicki, L. (2008). Do forbearance plans help mitigate credit card losses? Journal of Family and Economic Issues, 29(2), 191-209.

Brief Description: Credit cards are the means of payment for millions of routine transactions, with the volume of credit card debt increasing dramatically in the last few years. This has led secondary market agencies, investors, and insurers of credit cards to employ forbearance options such as lengthening repayment terms, lowering interest rates, and permitting card …

Barbara O’Neill

Barbara O'Neill

Dr. Barbara O’Neill is Rutgers Cooperative Extension’s Specialist in Financial Resource Management.  Barbara is eXtension’s leader for the Personal Finance Ask an Expert and Frequently Asked Questions (FAQs) resources.

Dr. O’Neill earned her Ph.D. in Resource Management and Family Economics from Virginia Tech University. She also holds a master’s degree in consumer economics from Cornell University and a bachelor’s degree in home economics from the State University of New York-Oneonta. Barbara holds numerous professional certifications including certified financial planner (CFP), …

Michael Gutter

Michael Gutter

Michael conducts research into factors that influence financial behaviors. He is particularly interested in how financial education and financial socialization are related to financial decision making. His goal is to help families achieve financial security.

Michael is an Associate Professor and Family Economics State Specialist for the Department of Family, Youth, and Community Sciences in the University of Florida’s Institute for Food and Agricultural Sciences. Michael coordinates interactive learning programs for eXtension’s personal finance resource area, also know …

Sara Croymans

Sara is committed to assisting individuals develop critical life skills in financial capability. She has taught individuals, educators and community agency staff on a variety of topics including youth and money, decision making, tenant education, learning styles and financial recovery after disasters.

Sara is a Family Resource Management Educator with the University of Minnesota Extension. She received her B.S. in home economic education and extension from South Dakota State University and her M.Ed. from the University of Minnesota. Sara became …

MFLN Personal Finance Virtual Learning Event

Graphic of 2016 Personal Finance VLE details with photo of jogger

Enhancing Financial Fitness

The Military Families Learning Network Personal Finance Virtual Learning Event (VLE) is a 3-day virtual event aimed at connecting personal finance managers and educators working with military service members with research, resources and each other. The 2016 event will focus on the research, traits and behaviors that lead to financial success. Being “financially fit” means having financial understanding and the capability to make positive financial decisions. 

2016 Events

Molly Herndon

Molly Herndon

  Molly Herndon is the Social Media Specialist for the Military Families Learning Network’s Personal Finance Concentration Area. Since 2011, she has managed her team’s social media presence and worked to create a network for Extension Educators and Military Personal Finance Managers by providing resources and information on personal finance topics through various social media outlets and the Military Families Learning Network Blog. She has also supported the efforts of her team by coordinating and promoting monthly professional …

How do allotments work through Defense Finance and Accounting Services (DFAS)?

Defense Finance and Accounting Services (DFAS) is the agency that handles military pay. An allotment is a way to withhold or distribute money from a service member’s military paycheck. There are two types of allotments, discretionary and non-discretionary:

  • Discretionary allotments can be used for expenses such as rent, car payments, loan payments, and voluntary payments to dependents.
  • Non-discretionary allotments are expenses such as child and spousal support, court-ordered payments, government indebtedness (which includes indebtedness to any department or agency of

When do End of Month (EOM) Leave and Earning Statements (LES) come out?

End of Month (EOM) Leave and Earning Statements (LES) are available on the Defense Finance and Accounting Service’s (DFAS) website. Dates for EOM LESs in bold font indicate when LESs are available in myPay. This DFAS chart also provides dates for the Advice of Payment (AOP) for mid-month paydays; dates are bolded to indicate when the LES will be available in myPay. For more information, refer to

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