Financial management: Development of scales

This study is a contribution to the development of family resource management scales, specifically financial management scales. Principal axis factor analysis, with varimax rotation, is used to assess underlying relationships in 23 family resource management variables related to time and money resources. Reliability and content, construct, and criterion-related validity of the scales are assessed. Two scales that are reliable and have some degree of validity are developed: frequency of financial problems and frequency of financial management. The scales could be used in future research, teaching, or counseling to organize financial management concepts.Preparation of this research was supported in part by the Illinois Agricultural Experiment Station. Data were collected in conjunction with the cooperative regional research project NC-182, Family Resource Utilization as a Factor in Determining Economic Well-Being of Rural Families. Cooperating states are Arizona, California, Illinois, Indiana, Iowa, Kansas, Michigan, and Minnesota.She received her Ph.D. from the University of Illinois; her current research interests include gender roles, family financial management, and economic well-being.Her current research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri.Her current research interests include the economic well-being of various family forms. She received her Ph.D. from the University of Illinois.She received her Ph.D. from the University of Illinois. Her research interests are economic well-being and quality of life.     

Factors associated with expectation of household's future financial condition

Path analysis is used to examine the causal relationships among selected objective and subjective factors associated with a household's expectation of future financial condition. Results indicate that respondents who perceive the effect of changes in the external environment on their own household's financial condition as positive are younger, have higher net worth, perceive more internal control over their situation, and report that most of the changes in the external environment are positive. Respondents who are younger, have higher income, perceive more internal control over their situation, and believe the effect of changes in the external environment on their household's financial condition are positive are more likely to be optimistic about their financial future. It is important that educators and financial advisors recognize the significant role perception of being in control plays in determining expectations of future financial condition.Journal Paper No. J-15256 of the Iowa Agriculture and Home Economics Experiment Station, Project No. 2809. Data were collected in conjunction with the cooperative regional research project NC-182, Family Resource Utilization as a Factor in Determining Economic Well-Being of Rural Families. Cooperating states are Arizona, California, Illinois, Indiana, Iowa, Kansas, Michigan, and Minnesota.Her current research interests include family financial management and consumer bankruptcy; she received her Ph.D. from the University of Missouri.She received her Ph.D. from the University of Illinois; her current research interests include gender roles, family financial management, and economic well-being.She received her Ph.D. from the University of Illinois. Her research interests are economic well-being and quality of life.Her current research interests include the economic well-being of various family forms. She received her Ph.D. from the University of Illinois.     

The relation of economic factors to perceived stress in mobile families

The purpose of this research is to examine the relationship between objective and subjective measures of economic well-being, amount of and satisfaction with control, and perceived stress level of subjects, who have relocated with their families within the past year. Both males and females indicate more stress if their financial condition is worse following the move than before, if their employment status is not satisfying, and when they have little control over their lives and are not satisfied with their level of control. Stress is negatively related to satisfaction with the specific aspects of economic situation studied for both males and females with limited exception.Peggy S. Berger received her Ph.D. from Pennsylvania State University. She is an Associate Professor in the Department of Consumer Sciences, Colorado State University, Fort Collins, CO 80523. Her research interests include socioeconomic issues related to geographic mobility and to gender, and work and family issues.Judith Powell received her Ph.D. from Oklahoma State University. She is a Professor of Child and Family Studies, and Head of the Department of Home Economics, University of Wyoming, Laramie, WY 82071. Her research interests include parent-child relations and effects of relocation on families.Alicia Skinner Cook received her Ph.D. from Arizona State University. She is a Professor in the Department of Human Development and Family Studies at Colorado State University, Fort Collins, CO 80523. Her research interests include grief and loss issues, family stress, and adjustment to relocation.     

The effects of perceived locus of control and perceived income adequacy on satisfaction with financial status of rural households

The purpose of this study is to examine the relationships among selected socioeconomic variables — perceived locus of control, perceived income adequacy, and satisfaction with financial status. Results of the study indicate that age, household income, household net worth, perceived locus of control, and perceived income adequacy are significantly related to satisfaction with financial status. Household income and household net worth have indirect effects on satisfaction through perceived locus of control and perceived income adequacy. Perceived locus of control also has an indirect effect on satisfaction through perceived income adequacy. These findings suggest that counselors and educators should emphasize the importance of perceptions of income adequacy and control over financial aspect in their courses and programs.Journal Paper No. J-14499 of the Iowa Agriculture and Home Economics Experiment Station, Ames, Iowa. Project No. 2809.His research interests include consumer credit and family resource management. He received his Ph.D. from Iowa State University in 1993.Her research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri.     

The determinants of worry over chronic health condition for rural couples

This study investigates the determinants of chronic health conditions that worry the member of rural couples who serves as the household financial manager. A sample of 1,115 rural couples from the NC-182 regional research project Family Resource Utilization as a Factor in Determining Economic Well-Being of Rural Families is used. The logit analysis finds that the probability of having a condition that worries the financial manager increases if she or he is middle aged or older, is not employed, and has external Locus of Control. This probability also increases when the dissatisfaction with the resources available to handle a financial emergency increases and the more often the financial manager does not have money to pay for the doctor.Preparation of this research was supported in part by the Minnesota Agricultural Experiment Station project 52–056 and the Minnesota Extension Service. Data were collected in conjunction with the cooperative regional research project NC-182, Family Resource Utilization as a Factor in Determining Economic Well-Being of Rural Families. Cooperating states are Arizona, California, Illinois, Indiana, Iowa, Kansas, Michigan, and Minnesota.Her current research interests include the economic well-being of various family forms. She received her Ph.D. from University of Illinois.Her current research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri.Her current research interests include issues concerned with family stress management including financial stress. She received her Ph.D. at Michigan State University.Her current research interests include economic and environmental well-being for families and individuals with emphasis on the impact of environmental regulations on economic well-being. She received her Ph.D. from University of Illinois.His current interests include economic well-being of rural families. He was a research assistant for Dr. Bauer before receiving his Ph.D. degree in Agriculture and Applied Economics, University of Minnesota, St. Paul, MN.     

Using a computer simulation game to teach family time use concepts

A computer simulation game designed to give students insights into family time use concepts has been used in an introductory family resource management class at Ohio State University and other universities. The game allows for planning for time use changes over the family life cycle. The game can give students insights into economic and sociological models of time use. It is possible that future versions of the game could be used in family counseling.His research interests include derivation of optimal decision-making rules for families and family financial management.Her research interests include financial management over the life course including financial ratios, baby boomers, and retirement. She received her Ph.D. in 1993 from The Ohio State University in Family Resource Management.His research interests include the time trade-offs made between couples, financial planning over the life cycle, and the interaction of time and money between families and their home-based businesses. He received his Ph.D. in 1993 from The Ohio State University in Family Resource Management.     

Women's perceived stress and well-being following voluntary and involuntary relocation

This study investigated the relationship between voluntary and involuntary relocation and women's perceptions of stress and amount of control, as well as their satisfaction with personal well-being. Results indicated that involuntary movers felt significantly less control and had lower levels of satisfaction with the relationship with their spouses than did voluntary movers. Educational level and employment status were also explored in relation to the dependent variables. Women with high school/trade school education had significantly higher levels of perceived stress, feelings of less control, and lower levels of satisfaction with family life than women with more education.This paper was supported by the Colorado State University and University of Wyoming Experiment Stations and published as Scientific Series Paper No. 290.Paula P. Makowsky received her M.S. from Colorado State University. She is currently a Counselor, Catholic Social Services, Phoenix, AZ.Alicia Skinner Cook is a Professor, Department of Human Development & Family Studies, Colorado State University, Ft. Collins, CO 80523. Her research interests include grief and loss issues related to relocation. She received her Ph.D. from Arizona State University.Peggy S. Berger received her Ph.D. from Pennsylvania State University. She is an Associate Professor, Department of Consumer Science & Housing, Colorado State University, Ft. Collins, CO 80523. Her research interests include socioeconomic issues related to geographic mobility and to gender.Judith Powell received her Ed.D. from Oklahoma State University. She is a Professor, Child & Family Studies, and Head, Department of Home Economics, Division of Home Economics, University of Wyoming, Laramie, WY 82071. Her research interests include parent-child relations and effects of relocation on families.     

Using psychometric analysis to evaluate the construct validity and reliability of the Coping Response Indices

The Coping Response Indices developed by Billings and Moos (1984a) are frequently used in stress research in the social science and clinical fields. These indices were originally developed in a clinical setting using a conceptual process rather than psychometric methods. This study investigates the factorial structure of the Coping Response Indices scale using a nonclinical sample. Principal components analysis with varimax rotation yields three distinct dimensions within the scale. Considerable support is found for the conceptualization of the Coping Response Indices, as proposed by Billings and Moos. There is also some indication, however, that the conceptualization and measurement of the indices need further revision and testing, especially if they are to be used in social science research. Her research interests include economic strain, stress and coping, and child functioning in diverse family structures. She received her Ph.D. from Oregon State University. Her research focuses on vulnerable children and families, life-span caregiving issues, intergenerational relations, and prevention of child abuse and neglect. She received her Ph.D. from Oregon State University. Her research focuses on family resource management, work, stress, and families, and multiple role management. She received her Ed.D. from Utah State University.     

Unmet service needs of families of young children with chronic illnesses and disabilities

Data about health and educational services were collected from 187 families with young children (under two years) who have chronic illnesses and disabilities. The purpose was to assess parents' satisfaction with services their families received and to identify families' unmet service needs as well as the reasons for these unmet needs. Although families' ratings of the adequacy of services are relatively high, 28% of the families report unmet service needs. The unmet needs most often reported are occupational, physical, or speech therapy; respite care/child care; and special education. Lack of funding is the most commonly given reason for unmet needs. Children with multiple impairments are at highest risk for unmet needs. Only 22% of unmet needs reported at the initial interview have been met by the time of the six-month follow-up. Increased coordination and monitoring of services across service sectors are indicated. Her research interests include the effects of disability on family identity and families' responses to minority stress. She received her Ph.D. from the University of Minnesota. She gratefully acknowledges Shelley Blazis and Nadav Casuto for statistical consulting. Her research interests focus on the impact of chronic illness and disability on families. She received her Ph.D. from the University of Minnesota. Her research interests include families and health and chronic illness and disability in children. She received her Ph.D. in Family Social Science at the University of Minnesota. His areas of interest include neurodevelopmental outcomes of low birth weight infants and training in developmental pediatrics. He was graduated from the University of Minnesota Medical School. His areas of interest include adolescents with chronic illness and disabilities, adolescent sexual decision making, and international adolescent health care issues. He was graduated from Howard University College of Medicine was awarded his earned doctorate in Health Policy from the University of Minnesota. Preparation of this article was supported by the National Institute on Disability and Rehabilitation Research Grant #H133890012.     

Family life cycle differences for shopping styles,information use,and decision-making

This article identifies shopping styles, information use, and decision-making differences by family life cycle stage in a purchase of a durable good. Data were collected using mailed questionnaires. The sample consists of 378 cases. Data are analyzed using factor analyses, analysis of variance, and cross tabulations. The shopping style factor indicates younger adults are brand conscious. The consumer factor indicates that people in older life cycle stages read more than people in younger life cycle stages. The inexperience factor indicates single parents, younger families, and younger adults are more inexperienced. The decision-making variable indicates that younger adults and single parents make decisions by themselves and younger families make decisions with their spouses. Reasons for purchases indicate that single parents do not own the product, older families are replacing, and retirees want new product characteristics.Leona K. Hawks is an Assistant Professor in the Department of Home Economics and Consumer Education, Utah State University, Logan, UT 84322-2910. She received her Ed.D. from Brigham Young University. Her current research interests include consumer decision-making and behavior.Norleen M. Ackerman is an Assistant Professor in the Department of Home Economics and Consumer Education, Utah State University, Logan, UT 84322-2910. She received her Ph.D. from Michigan State University. Her current research interests include consumer purchase behavior, family financial security, and life quality of farm families.     

Perceived risk associated with apparel purchasing in discount stores

Consumer discount store patronage preferences for apparel are investigated using the concept of perceived risk. Apparel items are assigned a type and level of risk: low social, low economic; high social, low economic; and high social, high economic. Females (N=222) responding to a mail survey rate their willingness to purchase each item in a discount store on a scale ofprefer to buy, may buy, ornever buy. Results suggest that consumer preference for purchasing in discount stores declines more sharply when economic risk increases than when social risk increases.Teresa A. Summers is Associate Professor of the School of Human Ecology, Textiles, Apparel Design and Merchandising at Louisiana State University, Baton Rouge, LA 70803. She received her Ph.D. from Texas Woman's University. Her research interest includes rural/urban consumer responses to changes in the marketplace.Frances C. Lawrence is Professor of the School of Human Ecology, Family, Child, and Consumer Sciences at Louisiana State University, Baton Rouge, LA 70803. She received her Ph.D. from Florida State University. Her research interests include family financial decision-making and family time use.Janice L. Haynes is Assistant Professor of the School of Human Ecology, Textiles, Apparel Design and Merchandising at Louisiana State University, Baton Rouge, LA 70803. She received her Ph.D. from Texas Woman's University. Her research interest includes retail patronage of specialized consumer market segments.Patricia J. Wozniak is Associate Professor of the Department of Experimental Statistics at Louisiana State University, Baton Rouge, LA 70803. She received her Ph.D. from the University of Wisconsin-Milwaukee. Her research interests include survey methodology and rural families.     

Family policy and critical science research: Facilitating change

The principles of critical science for policy research are outlined and one research project is used as a case study. The study was intentionally designed to facilitate changes that would positively influence the economic well-being of children from divorced families. The project uses the critical science processes of public dialogue about child support guidelines for purposes of collaborative problem solving. The normative theories of procedural and distributive justice are used to guide the research reporting. The project contributes to changes in the practices of estimating the income needs of children, changes in estimating the relative monetary contributions of their parents, and proposed legislation and modifications in the state child support guidelines. She received her Ph.D. in family ecology from Michigan State University. Her research interests include the valuing issues of family life quality, family decision making, divorce,and the economic adjustments of families to economic stressors. She received her M.A. degree in Family Education from the University of Minnesota. Her research interests include decision making and parenting. She received her Ph.D. degree in anthropology from the University of Minnesota. Her research interests include social and cultural change and the integration of research findings into public policy decision making.     

The roles of role strain,economic resources and time demands in explaining mothers' life satisfaction

Time diary and questionnaire data from mothers who are full-time homemakers, members of dual-earner households, and heads of single-parent households are analyzed to determine the influence of family structure, economic resources, and time demands on their life satisfaction. The multivariate analysis reveals that family structure is moderately related to mothers' satisfaction with progress in life but not to satisfaction with life as a whole. Mothers' satisfaction with life as a whole does vary with their life cycle stage, economic situation, and their use of time.Her research interests include time use of household members and CADD education for interior design students. She received her Ph.D. from Michigan State University.Her research assesses the impact of household composition changes on economic well-being. She received her Ph.D. from Cornell University.     

Housing tenure,structure, and crowding among Latino households

This article examines the effect of federal housing and public assistance programs on the housing quality of different Latino households. The research tests models of crowding and housing tenure and structure for Latino households. The data for this research are from the 1990 Latino National Political Survey-Panel Study of Income Dynamics (LNPS-PSID). Findings reveal that housing and public assistance programs do help alleviate crowding among the Latino population, but they do not help Latino households achieve ownership of a single-family home. All the demographic variables in the model contribute to the explanation of crowding, and a majority also significantly explain housing tenure and structure. Significant differences are found among Latino subgroups in the explanatory variables for crowding, tenure, and structure. She is also the director of the Center for the Study of Aging at Illinois State. Her research interests include housing of minority households and congregate housing for the elderly. She received her Ph.D. from Iowa State University. Her research interests include housing needs of Latino households, resource management of female-headed Puerto Rican households, fertility decisions of Puerto Rican women, and student labor force participation. She received her Ph.D. from the University of Illinois.     

Adaptation to unemployment: Effects of a mine closure on husbands and wives

The purpose of this study was to increase understanding of how individuals/couples respond to the unemployment of the primary breadwinner. Data were collected from 66 individuals (33 couples) shortly after becoming unemployed and again one year later. Results determined that the significant predictor variables of economic satisfaction, marital adjustment, and depression were primarily economic, marital, and emotional variables, respectively. Findings also showed that interaction existed among economic, marital, and emotional variables in predicting the three well-being outcomes. Additionally, differences were found in the pattern of results for husbands and for wives. Based on these findings, areas and hypotheses for future study are proposed.Carl A. Ridley received his Ph.D. from Florida State University. He is a Professor in the Division of Child Development and Family Relations, University of Arizona, Tucson, AZ 85721. His research interests include relationships and conflict management.Mari S. Wilhelm received her Ph.D. from Michigan State University. She is an Assistant Professor in the School of Family and Consumer Resources, University of Arizona, Tucson, AZ 85721. Her research interests include financial management, socio-economic stress, financial stress and problems.     

The importance of selected housing features at various stages of the life cycle

The spatial environment of the home is an important factor in the consideration of satisfactory housing for families. With the increasing demand for housing, it has become common to simply provide the basic structure without addressing the various wants and needs of individuals and families. It is the purpose of the study reported here to evaluate the importance of specific housing features based on stage in the family lifecycle. Results show that those features with the highest importance involve low maintenance, aesthetics, and environmental quality. Implications for home designers, educators, and consumers are discussed.Kathleen Ann Lodl is an Instructor in the Department of Consumer Science and Education, 128 Home Economics, University of Nebraska-Lincoln, Lincoln, NE 68583-0801. Her research interests include housing design, residential alterations, and female-headed households. She is currently working on a Ph.D. from the University of Nebraska.Betsy S. Gabb is an Assistant Professor in the Department of Textiles, Clothing and Design, 226 Home Economics, University of Nebraska-Lincoln, NE 68583-0802. Her research interests include housing design and residential space use. She received her Ed.D. from the University of Nebraska.E. Raedene Combs is a Professor in the Department of Consumer Science and Education, 134 Home Economics, University of Nebraska-Lincoln, Lincoln, NE 68583-0801. Her research interests include housing designs for special populations and families at risk. She received her Ph.D. from Purdue University.     

Family/work roles' relation to perceived stress: Do gender and ethnicity matter?

This exploratory research examines whether gender and ethnic differences exist in family- and work-related variables that best predict perceived stress. The Anglo male (N=115) and female (N=199) and Mexican-American male (N=35) and female (N=85) respondents each had the roles of employee, spouse, and parent. Data were collected by mail questionnaire from state-classified employees at the three land-grant universities in Colorado, New Mexico, and Wyoming as part of Cooperative Regional Research Project W-167. Regression analysis indicates that role overload is a significant predictor of stress for Anglo males and females and Mexican-American females, thus providing some support for the role strain theory, which suggests that increasing the number of roles drains personal resources and may increase stress. Satisfaction with family roles enters regression equations as significant predictors for two sample groups. Other variables enter only one of the four regression equations; thus ethnicity and gender differences are found in the variables predicting perceived stress and should be considered in future research in this area. The research was funded by the Colorado, New Mexico, and Wyoming Agricultural Experiment Stations as part of Cooperative Regional Research Project, W-167, “Work, Stress, and Families.” Her research interests include issues related to balancing work and family and to family resource management. She received her Ph.D. from Pennsylvania State University. Her research interests include grief and loss issues and family support systems. She received her Ph.D. from Arizona State University. His research interest is minority families, and his Ph.D. is from Florida State University. Her research interest is Latino family functioning. Her Ph.D. is from New Mexico State University. His research interest is human resource development emphasizing ranching families. He received his Ph.D. from Iowa State University.     

The allocation of time to grocery shopping: A comparison of Canadian and U.S. households

This study examines grocery shopping time and incorporates some of the advances made in the estimation of time use, including enjoyment of time spent in an activity, the endogeneity of grocery prices, and simultaneity of time and expenditures. Three groups of consumers are compared: Anglophone and Francophone Canadians and U.S. households. Results indicate that the model explains more of the variation in time use for Anglophone Canadians and U.S. households than for Francophone Canadians.She currently conducts research in the areas of consumer behavior and economic outcomes associated with drug use and life course implications of retirement. She received her Ph.D. from Cornell University in 1988.Her research interests are food distribution, retailing, consumer behavior, consumer satisfaction and arts management. She received her Ph.D. from Cornell University in 1991.     

Family structure,family organization,and quality of family life

This study examines how family organization is associated with the quality of family life for parents in first marriages, remarriages with biological children, and several types of stepfamilies. Data are drawn from the 1987–1988 National Survey of Families and Households; only married couples in which both spouses participated in the survey and who had children under age 19 in the household are considered (N=3,120). Results indicate that respondents in different family structures differ in the perceived quality of parent-child relationships, that differences in family structure are not related to differences in family organization, and that some aspects of family organization are related to marital quality and the quality of parent-chil relationships. Hierarchical multiple regression analyses indicate that family structure and family organization are independently related to the quality of family life. This research was supported by National Institute of Child Health and Human Development Grant R15 HD28198-01. The National Survey of Families and Households was funded by a grant (HD21009) from the Center for Population Research of the National Institute of Child Health and Human Development. The survey was designed and carried out at the Center for Demography and Ecology at the University of Wisconsin-Madison under the direction of Larry Bumpass and James Sweet. The fieldwork was done by the Institute for Survey Research at Temple University. A previous version of this article was presented at the annual meeting of the National Council on Family Relations, Orlando, November 1992. Her research interests include the work/family interface and family policy. She received her Ph.D. from Wayne State University. His research interests include the effects of divorce and remarriage on parents and children. He received his Ph.D. from Ohio State University. Her research interests include adolescents and adoption. She received her Ph.D. from the University of Delaware.     

Home-based workers: Worker and work characteristics

The purpose of the study reported here is to describe the worker and work characteristics of 899 home-based business owners and wage earners, using a definition that excludes farmers, hobbyists, and persons taking work home from a job located elsewhere. Contrary to predictions by futurists of an influx of white-collar workers from the office to home, the home-based workers in this research are more likely to be marketing and sales persons, contractors, or mechanical and transportation workers. Full- or part-time employment status, home tenure, seasonality of work, and occupation are significantly associated with ownership status. Findings show significant group differences on age, education, years in the community, household size, and net annual home-based income. Business owners, on average, are older, have less education, come from larger households, have lived in their communities more years, and have lower net annual home-based incomes than their wage earner counterparts.This article reports results from the Cooperative Regional Research Project, NE-167, entitled, At-Home Income Generation: Impact on Management, Productivity and Stability in Rural and Urban Families, partially supported by Cooperative States Research Service, U.S. Department of Agriculture and the Experiment Stations at the University of Hawaii, Iowa State University, Lincoln University (Missouri), Michigan State University, Cornell University (New York), The Ohio State University, The Pennsylvania State University, Utah State University, and University of Vermont. Appreciation is expressed to Ana Marie Vargas and Johnny M. H. On for their assistance with the computer analyses, and to Florence Abe, Laraine Hoffman, and Meesok Lee for their help in the final preparation of this article. The authors acknowledge the patience and helpful suggestions of two anonymous reviewers.Her current research interests include home-based employment, multiple farm income families, and computer-based education. She received her Ph.D. from Oregon State University.Her current research interests include home-based employment, economic adjustments of farm families, and the interrelationship of management to an individual's quality of life. She received her Ph.D. from Purdue University.Her primary areas of research are rural households, the impact of employment on a family, learning theories as applied to financial education, retirement, and home-based employment. She received her Ph.D. from The Pennsylvania State University.