Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation

This pilot study examined the influence of Credit Wise Cats, a financial education seminar presented by Students in Free Enterprise, on the attitudes, knowledge, and intentions toward financial responsibility of college students (N = 93). Findings suggest that the seminar effectively increased students’ financial knowledge, increased responsible attitudes toward credit and decreased avoidant attitudes towards credit from pre-test to post-test. At post-test, students reported intending to engage in significantly more effective financial behaviors and fewer risky financial behaviors. Finally, demographic factors (e.g., gender and employment status) predicted students’ financial knowledge, attitudes, and behaviors. These results suggest that a seminar format may be useful in reaching a wider audience of college students and, thus, warrants future longitudinal evaluation.

The quality–quantity trade-off in fertility across parent earnings levels: a test for credit market failure

The dominant economic theory of the family explains the negative correlation between family size and child achievement, a ‘quality–quantity trade-off’, through borrowing constraints and credit market failure. This paper presents a model in which the opportunity cost of time spent with children is increasing, thus creating a trade-off even in economies with perfect credit markets. While both produce a family size effect, temporal and financial constraints predict different patterns for the trade-off across levels of parent income. Using data from the National Child Development Study, the trade-off is found even among high-earning families who presumably do not face credit constraints. Moreover, the trade-off does not grow as parent earnings diminish. Both of these findings suggest that temporal and not financial constraints explain the quality–quantity trade-off.

The Impact of Personal Finance Education Delivered in High School and College Courses

This study investigates the impact of personal finance education delivered in high school and college. Outcomes of interest were investment knowledge and household savings rates measured years after the financial education was delivered. A web-based survey with questions about participation in financial education, financial experiences, income and inheritances, and demographic characteristics was administered to 1,039 alumni from a large midwestern university. Participation in a college level personal finance course was associated with higher levels of investment knowledge. Experience with financial instruments appeared to explain more of the variance in both investment knowledge and savings rates. No significant relationship between taking a high school course and investment knowledge was found. Financial experiences were found to be positively associated with savings rates.

Imagined interactions,family money management patterns and coalitions,and attitudes toward money and credit

This study explores the imagined interactions college students have with their parents about money and credit, their attitudes toward credit and money, the ways they say their parents deal with financial decisions, and the communication coalitions regarding finances they perceive existing within their family. Students’ imagined interaction pleasantness is greatest when parents jointly form a plan for paying off credit card debt and lowest when parents argue. When family coalitions exist, students report more frequent imagined interactions. Imagined interaction frequency and pleasantness are related to credit and money attitudes.

Saving for Children’s College Education: An Empirical Analysis of the Trade-off Between the Quality and Quantity of Children

This paper examines the effect of children’s college expenses on household savings. The theoretical model introduces life-cycle savings into the quality–quantity model of fertility and derives predictions for the impact of expected expenses on parents’ savings. Using the actual amount of parents’ financial support reported in the Survey of Consumer Finances, the empirical model estimates the expected expenditures on children’s college education and investigates the effect of expected expenditures on parents’ savings. The results show that parents’ support for each of their children’s college expenses decreases with the number of children. The results are consistent with the predictions of the life-cycle theory of saving and consumption that households save in advance for expected expenses to smooth their consumption.

The market for foster care: an empirical study of the impact of foster care subsidies

When parents are suspected of child abuse or neglect, their children may be placed with foster families. We estimate the relationship between the monthly subsidies paid to foster families and the quantity of foster care services provided. The empirical model uses variation in subsidies and foster care populations within 37 states and the years 1987–1995. One innovation in our approach is that we exploit the idea that states do not appear to set market clearing rates, as evidenced by a foster home shortage during this time period. In this case of excess demand, variation in the monthly subsidy traces out the supply curve. Our results show that states with high demand may be able to use economic incentives to recruit foster families.

The Structure of the Chinese Banking System and Credit Access Problems for SMEs

This paper examines the structure and the main characteristics of the Chinese banking industry. In particular, the paper analyses the problematic aspects of credit relations of small and medium enterprises (SMEs). The SMEs are facing several problems in accessing the bank loans market, dominated by the political and contractual weight of state-owned enterprises. However, some recent reforms have improved the situation, a fundamental condition for additional positive results. Nevertheless, further and more pervasive modernization efforts are needed to consolidate these results and to develop the relationships between banks and SMEs.

The Financial Assimilation of an Immigrant Group: Evidence on the Use of Checking and Savings Accounts and Currency Exchanges

This article examines the determinants of financial market participation for a particular group of immigrants: Hmong refugees in Minneapolis/St. Paul, Minnesota. Our findings indicate that controlling for income and education, Hmong immigrants are less likely to have savings accounts and credit cards and are more likely to use currency exchanges, compared to randomly selected non-Hmong households living in the same neighborhoods. However, these effects are mitigated by time spent in the US. Financial assimilation appears to take 15–20 years. These findings expand our understanding of immigrant assimilation and highlight some of the complexities associated with the process of assimilation.

Housing Cost Burden,Poverty Status,and Economic Hardship among Low-income Families

This study examined the relative effects of housing cost burden versus poverty thresholds to explain the economic hardship of low-income families and compared the differences in these effects among White, Black, and Hispanic families with children in the United States of America. The findings from the multivariate analyses indicate that poverty status better explains variations in economic hardship than housing cost burden status. In respect to group differences, association between poverty status and economic hardship score are different between White and Black families. The results of this study raise the issues of housing cost burden and economic hardship that the country’s low-income Black families disproportionately experience relative to their White and Hispanic counterparts.

Does Consumer Sentiment Foretell Revolving Credit Use?

The rising level of consumer debt in the U.S. is well documented. Revolving credit (credit cards) has experienced this growth, with the level of outstanding revolving credit increasing by over 600% in inflation-adjusted dollars over the past three decades. The goal here is to gauge the extent to which consumer sentiment; namely, the University of Michigan Survey Research Center Index of Consumer Sentiment, has predictive power in explaining the aggregate use of revolving credit using time-series data. The results generally show that changes in the consumer sentiment measure are related to subsequent changes in revolving credit use.

Effects of Consumer Goods Shortages on Fertility in Post-Soviet Economy

This study makes two contributions to the study of family and economic issues. First, it investigates the effects of consumer-market shortage on fertility. Second, it considers the effects on fertility of eliminating consumer-market shortage using a survey of families from the Former Soviet Union. The estimated model of fertility showed that consumer goods shortage and fertility were positively related. The elimination of consumer goods shortage would, therefore, be expected to lower aggregate number of children in the transition (post-Soviet) economies.

Path to Poverty Alleviation: Marriage or Postsecondary Education?

We examined the role of human capital in determining economic well-being and marital status of mothers with children. We analyzed 1996 data from the Survey of Income and Program Participation (SIPP), a nationally representative survey of 36,700 American households conducted by the Census Bureau. The results indicate that among the human capital variables postsecondary education significantly improves the economic well-being of mothers irrespective of their marital status. Also, educated mothers are more likely to be married. These findings are especially relevant as we debate the importance of marriage in poverty alleviation.

Using Subsidies to Promote the Adoption of Children from Foster Care

Since 1978 the federal government has implemented a variety of programs to promote the adoption of children from foster care. A key part of these programs has been the use of subsidies to lower the cost of adopting and parenting children who have been in foster care. Although subsidies are a key part of federal policy, there has been little empirical research on the effect of subsidies on adoption rates. This paper uses data from the Adoption and Foster Care Analysis and Reporting System to estimate the impact of subsidy rates on adoption rates. Subsidies to families have a positive and statistically significant effect on adoption rates.

Trauma and Origins: Post-Holocaust Genealogists and the Work of Memory

In the 1970s, as children of Holocaust survivors reached adulthood, many began to excavate, piece together, and re-fashion their fractured family histories. This movement achieved momentum in the 1980s and 1990s, as the so-called “second generation” moved into middle age. Drawing from data gleaned from participant observation on a listserv for children of survivors and from interviews, I argue that those who engage in post-Holocaust genealogy are searching for coherent narratives that place their own origin in the context of the families into which they were born. By seeking, borrowing from and selectively appropriating traces of the past, they are using them as raw material in the production of new stories about the past and, by implication, the present.

Why do families actually pool their income? Evidence from Denmark

This paper analyzes income-pooling by using a unique Danish data set that includes questions on income pooling among 1,696 couples. The analyses show that most Danish households use some kind of income pooling and that the proportion of income pooled varies considerably according to individual characteristics (age, education, occupation, past partners, upbringing) and household characteristics (household income, duration of marriage, location of residence and the existence of public goods, including children). However, when all variables are evaluated in a common model, the duration of marriage and the existence of children predominantly affect the likelihood of income pooling.

Patterns of Gaze Between Parents and Children in European American and Mexican American Families

Mutual gaze has been shown to be a valuable channel of nonverbal communication. To examine mutual gaze between parents and children, 43 European American (EA) and 57 Mexican American (MA) families were coded on the occurrence of talking and gaze during a brief discussion. MA families showed lower levels of father-to-child gaze, mother-to-son gaze, and child-to-father gaze than EA families. MA families also showed less father–child mutual gaze, as well as less mother–child gaze for sons than EA families. Child gaze aversion was more common in European American families. Levels of gaze, father–child mutual gaze, and child gaze aversion all were positively correlated with acculturation. The importance of research exploring possible differences in function and meaning of gaze across cultural groups is emphasized.

Strengths-Based Approach and Coping Strategies used by Parents Whose Young Children Exhibit Violent Behaviour: Collaboration Between Schools and Parents

This research study explores the strategies adopted by 60 parents of children between 3 and 9 years of age considered to have engaged in violent behaviour, within the meaning of the Safe Schools Act (Ontario Ministry of Education, Canada, 2000). This legal framework requires parents to be involved in the decisions concerning their children. Parents’ perceptions of their involvement lead them to develop coping strategies enabling them to play a more active role in such decision making. This article analyzes their perceptions according to a strengths-based approach and seeks to provide a mediation perspective to social work practice with families.

Rhetoric and Reality of Economic Self-sufficiency Among Rural,Low-Income Mothers: A Longitudinal Study

This study examined the contributions of maternal labor force participation and marital status on economic self-sufficiency over time for rural mothers. Data were from 174 rural families participating in three waves of data collection in Rural Families Speak. χ ² and multiple logistic regression were utilized. Results revealed only one-third of mothers moved toward economic self-sufficiency over three years. Maternal education, employment status, and weekly work hours were associated with improved economic well-being. Compared to single-parent families, unmarried-couple and married-couple families had increased odds of improving economically. In an analysis of all mothers with partners, married or unmarried, martial status was not significant in economic improvement. Findings suggest the role of marriage in welfare reform for rural families should be reconsidered.

Educational Attainment and the Lesbian Wage Premium

This paper provides insight into the wage gap between lesbians and heterosexual women. Using data from the 2000 Decennial Census, we find a lesbian premium that equals approximately 10% for women without a bachelor’s degree, and is nearly non-existent for women with higher levels of education. These findings are consistent with proposition that the gap between lesbians’ and heterosexual women’s commitment to the labor market narrows at higher levels of education. We also find that controls for industry and occupation exert only a small effect on the gap between lesbian and heterosexual women’s wages.

New NGO–Elite Relations in Business Development for the Poor in Rural Bangladesh

Through observation of two programs in broiler rearing and silk production implemented by a Bangladesh nongovernmental organization (NGO), this article explores what role an NGO can play as an intermediary in business development for the poor with focus on the relations between the NGO and local elites. In theory, as market demand for a product or service increases, the business attracts more interest from local elites, to whom all the benefits tend to go in the end. However, the two cases suggest feasible ways for the poor with intermediary to open up a business opportunity in the elite-controlled rural economy: market differentiation and the use of a stagnant industry. As a result, new NGO–elite relations emerge. Considering the limited life of such relations, efforts should be concentrated on enabling the poor to make the most of the business opportunity in the short term under the new NGO–elite relations.