Tag: research summaries

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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 …

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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 …

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Teens’ financial knowledge and behavior

 

Danes, S. M., & Haberman, H.R. (2007). Teen financial knowledge, self-efficacy, and behavior: A gendered view. Financial Counseling and Planning, 18(2), 48-60.

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Brief Description: This study explored gender differences in financial knowledge and behavior among high school students after studying a financial planning curriculum. Females believed that managing money affected their future more than males, but males felt more confident making money decisions. Males reinforced existing knowledge while females learned significantly more about finances in areas where they …

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Teacher Training in Personal Finance and Student’s Test Scores

 

Swinton, J., De Berry, T, Scafidi, B., & Woodard, H. (2007). The Impact of Financial Education Workshops for Teachers on Students’ Economic Achievement, The Journal of Consumer Education, 24, 63-77.

 

Brief Description: Many states emphasize personal finance as an essential skill for graduating seniors. Unfortunately, many high school teachers are inadequately trained in personal finance. The National Council on Economic Education (NCEE) has developed an extensive curriculum, and its state affiliates offer workshops to help teachers deliver its personal …

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Parental Influence and Teens’ Attitude toward Online Privacy Protection

 

Youn, S. (2008, Fall). Parental Influence and Teens’ Attitude toward Online Privacy Protection. Journal of Consumer Affairs, 42(3), 362-388.

Brief Description: This study investigated how parental influence affects teens’ attitude toward online privacy protection. Teens living in a family that values concept-oriented family communication tended to engage in discussion mediation, which increased their level of privacy concern. In contrast, teens living in environments with high socio-oriented communication tended to have more family rules and surf the Internet with parents. …

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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 …

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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, …

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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 …

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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 …

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Measuring Financial Risk Tolerance

Gilliam, J. Chatterjee, S. & Grable, J. (2010). Measuring the perception of financial risk tolerance: A tale of two measures. Journal of Financial Counseling and Planning, 21 (2), pp. 30-43.

Brief Description:  Estimating a person’s risk tolerance is important for guiding him or her into a satisfactory investment portfolio. The Survey of Consumer Finance (SCF) simple measure for assessing risk tolerance was compared to a 13-item scale (GL-RTS) in assessing risky and non-risky asset holdings by university faculty and staff. …

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