Changing patterns in the allocation of savings,investments and debts within couple relationships

Using data from the British Household Panel Study (BHPS) from 1995 to 2005 we examine the nature of the allocation of savings, investments and debts between heterosexual couple members, how these vary by individual and household characteristics, and how these patterns vary over a ten‐year time horizon. We find savings are more commonly held in joint names than investments or debts and there is evidence of an increasing independence in financial arrangements between couple members throughout the period 1995 to 2005. Controlling for age and other factors, cohabitation reduces the likelihood of shared financial arrangements. Both partners' labour market income affects the likelihood of having any savings or investments for both men and women but as men's labour income increases, the likelihood of men having jointly held savings and investments with their female partner reduces. Psychological well‐being is improved where individuals have any savings or investments either solely or jointly held with their partner.     

Japan's financing system for health care of the elderly

The multiplicity of Japan's health insurance system fails to achieve equality among the different insurance groups of the sharing of the financial burden. This "horizontal" inequality is effectively offset by a unique redistribution mechanism established in 1982. However, there is no reserve fund so that savings can be accumulated for the greater financial need in the future. This will inevitably lead to a heavier financial burden for the future working generation or more utilization of the personal assets of the elderly. How to achieve "vertical" or intergenerational equality in financing the cost of health care for the elderly is the biggest social policy challenge for Japan.     

What makes people anxious about life after the age of 65? Evidence from international survey research in Japan,the United States,China, and India

This study investigated the causes of people’s anxieties about life after the age of 65 years, using household data from countries with different social contexts: Japan, the United States, China, and India. This research added contextual aspects to the literature on social security and precautionary savings. An ordered probit model was used to establish the causes of anxiety and a generalized structural equation model was used to check the robustness of the results. This study uncovered three major findings. First, anxiety levels about life at an older age partly depend on people’s views of the future. Second, high financial status lessens people’s anxiety levels only if prices are stable. Third, living with a child, contrary to expectations, does not necessarily lessen people’s concerns about life after 65.     

Financial Literacy and Emergency Saving

Using data collected by the National Financial Capability Study, a survey recently commissioned by the Financial Industry Regulatory Authority, this paper investigates the correlations between subjectively and objectively assessed measures of financial knowledge, and the probability of having savings adequate to cover 3 months of typical expenses. Results indicate that households who are more financially knowledgeable or more confident in their financial ability are significantly more likely to report having emergency funds. These findings support the growing literature on the relationship between financial knowledge and economic behaviors and have wide policy implications.     

Japan's Financing Systems for Health Care of the Elderly

The multiplicity of Japan's health insurance system fails to achieve equality among the different insurance groups of the sharing of the financial burden. This "horizontal" inequality is effectively offset by a unique redistribution mechanism established in 1982. However, there is no reserve fund so that savings can be accumulated for the greater financial need in the future. This will inevitably lead to a heavier financial burden for the future working generation or more utilization of the personal assets of the elderly. How to achieve "vertical" or intergenerational equality in financing the cost of health care for the elderly is the biggest social policy challenge for Japan.     

Does Revenue Diversification Predict Financial Vulnerability Among Non-governmental Organizations in sub-Saharan Africa?

Non-governmental organizations (NGOs) in sub-Saharan Africa (SSA) experience financial challenges that hinder efforts to promote social change and development. Revenue diversification is one adaptive response to these challenges, yet there is a lack of evidence concerning the relationship between revenue diversification and financial vulnerability among NGOs in SSA. Using data from an online survey of NGOs (N = 170), we hypothesized that a greater number of revenue sources is associated with lower probability of financial vulnerability, while a greater level of dependence on international funding is associated with higher probability of financial vulnerability. Results from probit regression models controlling for organizational characteristics indicated partial support for hypotheses. Having four or more types of revenue was associated with 87% lower probability of financial vulnerability compared to having one type of revenue (p < 0.001). Also, NGOs with up to half of their budgets covered by international sources had 17% lower probability of financial vulnerability compared to NGOs with no international funding (p < 0.05). Implications for future research to further explore these relationships are discussed.     

Sexual Orientation Moderates the Effect of Gender on Body Satisfaction: Results From a National Probability Sample

Body image concerns typically affect women more so than men, but there is reason to believe that this pattern may depend on sexual orientation. The present study examined differences in levels of body satisfaction among men and women who identified as heterosexual, plurisexual (bisexual and pansexual), gay, and lesbian, using data from a large-scale national probability sample from New Zealand (N = 17,005). As expected, heterosexual men reported higher body satisfaction than heterosexual women. Gay and plurisexual men reported lower body satisfaction than heterosexual men. Gay men also reported lower body satisfaction than lesbian women, and did not differ significantly from heterosexual and plurisexual women. Ratings of heterosexual, plurisexual, and lesbian women’s body satisfaction did not differ significantly. Results held when adjusting for a range of demographic covariates (including age and BMI), and highlight the importance of examining the psychological and health outcomes associated with poor body image among gay men. These findings emphasize the relevance of sexual orientation in understanding men’s body image-related issues.     

Midwestern Women’s Farm Business Roles and Farm Business Financial Satisfaction: An Exploratory Study

The roles of women have been and remain central to the functioning of the family farm business. However, a gap in recent literature on farm women, in general, exists and research is limited regarding women’s farm business roles and their satisfaction with their farm business financial situation. The purpose of this study was to explore factors that impact farm women’s perceptions of farm business financial satisfaction. Results indicated that the importance of financial solvency and satisfaction with one’s farm role were positively associated with women’s farm business financial satisfaction. Holding a primary decision-making role was negatively associated with farm business financial satisfaction. Implications for educators, professionals who work with farm women, and researchers are discussed.     

The United States Economic Crisis: Young Adults’ Reports of Economic Pressures, Financial and Religious Coping and Psychological Well-Being

Using a sample of 222 young adults attending college, the present study examined the relative contribution of young adults’ perceived economic pressures, financial coping and religious meaning-making coping strategies in accounting for variation in their reports of psychological well-being within the context of the United States economic crisis. Results suggest a direct relationship between perceived economic pressure and psychological well-being such that young adults who reported having to make more economic adjustments as a result of economic crisis also reported higher levels of depressed mood and anxiety. Young men and women who reported having to make fewer economic adjustments and being able to meet their material needs reported higher levels of life satisfaction. Regardless of young adults’ self-reported level of economic pressures, the use of education and communication financial coping strategies was related to lower levels of self-reported anxiety and depressed mood and greater life satisfaction. Viewing the financial crisis as a punishment from God was generally associated with young adults’ reports of greater depressed mood and less life satisfaction. Implication of findings for research and practice are discussed.     

Emergency Saving and Household Hardship

Households with limited income and wealth often struggle to access the financial liquidity needed to address unexpected expenses or income drops. Emergency savings can act as form of insurance against such economic shocks and reduce the risk of hardships that influence family wellbeing. Prior research has established that threshold amounts of liquid assets can reduce the risk of economic hardship. This study used a measure of self-reported emergency saving behavior to examine whether households who reported saving for emergencies were less likely to experience subsequent economic hardships in a longitudinal sample of households in disadvantaged neighborhoods from the Annie E. Casey Foundation’s Making Connections project. Results across a range of regression models suggest that households who saved for emergencies experienced slightly less overall hardship and were less likely to report several specific hardships, such as food insecurity and having a phone disconnected, three years later. This study supports the idea that small, unrestricted savings may play a protective role for low-income households.     

The Burden of Medical Debt Faced by Households with Dependent Children in the United States: Implications for the Affordable Care Act of 2010

This paper examines the relationship between the number of dependent children and medical debt outcomes. Results show that the presence of dependent children in the household increased the probability of having any medical debt by 8 % for “high” financial burden households, 4 % for households at the 50th percentile of the income distribution and 3 % for privately insured households. The amount of medical debt by households at the 75th percentile of the income distribution was also increased. These findings show that the number of dependent children in the household was associated with medical debt for households in the middle of the income distribution. These results may be explained by the fact that those households at the lower tail of the income distribution are more likely to have public coverage, which tends to have lower cost sharing compared to those with private insurance.     

Reverberations of Racism and Sexism Through the Subjective Sexualities of Undergraduate Women of Color

Young women of color (among others) face both subtle and overt discrimination on a regular basis, but few studies have examined relations between discrimination and sexual outcomes using quantitative tools. We surveyed 154 self-identified undergraduate women of color to examine connections between race- and sex-based discrimination and subjective sexual well-being (i.e., condom use self-efficacy and sexual life satisfaction) and also tested whether sexual autonomy mediated these relations. When examined individually, each form of discrimination was related negatively to condom use self-efficacy and sexual life satisfaction, such that as women reported more discrimination, they reported poorer sexual well-being. However, when examining both racism and sexism as joint predictors, only racism remained significant and there were no racism × sexism interaction effects. In a path model, sexual autonomy mediated the relation between racism and each measure of subjective sexual well-being; racism was negatively related to sexual autonomy, which in turn was positively related to both condom use self-efficacy and sexual life satisfaction. These findings are consistent with the broader literature on the negative impact of discrimination on various aspects of mental and physical health. They also reinforce the position that redressing social inequality is a vital component of promoting individual health.     

Assessing the causal relationship among communication,money management practices,satisfaction with financial status,and satisfaction with quality of life

The purpose of the study reported here is to assess the causal relationship among communication, money management practices, satisfaction with financial status, and quality of life. The data used were collected in 1986 through personal interviews. The sample size is 123 interviewees, and the unit of analysis is the household's money manager. Results show that the money managers who are more knowledgeable about financial matters, and those who are highly indebted, communicate more about money matters and report more money management activities. Satisfaction with financial status is caused mainly by economic factors (net worth and savings). The demographic factors that influence satisfaction with quality of life are marital status and household size. Satisfaction with quality of life is also predicted by income and satisfaction with financial status.This research was supported by the Iowa Agriculture and Home Economics Experiment Station Project No. 2773 (Journal paper No. 13123).Dr. Olive Mugenda is a senior lecturer Lecturer at Kenyatta University, P. O. Box 62337, Nairobi, Kenya, East Africa. Dr. Tahira K. Hira is a Professor, Department of Family Environment, Iowa State University. Dr. Alyce M. Fanslow is a Distinguished Professor, Department of Family and Consumer Sciences Education, Iowa State University, Ames, IA 50011.Drs. Mugenda and Fanslow received their Ph.D. degrees from Iowa State University, Dr. Hira received her Ph.D. degree from the University of Missouri, Columbia.Dr. Mugenda's research is in family financial management areas. Dr. Hira's research focuses on factors influencing satisfaction with households' financial status and consumer bankruptcy. Dr. Fanslow's research interest includes financial management education.     

The Quality of Recent Pacific Sociological Association (PSA) Meetings: Location,Session Quality and Institutional Change

Employing data (n?=?734) collected from those having attended the Pacific Sociological Association (PSA) annual meetings held in San Diego, California (2012) and Reno, Nevada (2013), we test whether session quality and host-city satisfaction are positively associated with how respondents rated the overall quality of the meetings. A majority (54 %) of respondents reported the quality of the meetings highly (“Above Average” or “Excellent”), and suggestive of the importance of conference location, this declined from 64 % in 2012 to 41 % in 2013. Controlling for individual characteristics and institutional affiliation, regression results intimate that both host-city satisfaction and session quality are positively associated with how respondents rated the overall quality of the meetings. And they suggest that the former is somewhat more important than the latter for explaining variation in meeting quality. A final stage of our analysis (n?=?205) finds that attendees’ evaluations of changes in how the 2013 PSA meetings were developed and organized are positively associated with meeting quality without diminishing the independent effects of session or location quality. We discuss implications of these results for future PSA meetings, as well as for research investigating how to improve the quality of regional academic conferences more generally.     

Financial Education is not Enough: Millennials May Need Financial Capability to Demonstrate Healthier Financial Behaviors

Financial education sans opportunities for hands-on experience and knowledge operationalization may be insufficient for promoting healthy financial behaviors. Financial capability combines financial education with financial inclusion via a savings account, thereby giving an opportunity translate knowledge into practice. This study used data from the 2012 National Financial Capability Study to examine relationships between the financial capability and financial behaviors of United States Millennials (N = 6865). Compared to their financially excluded peers, Millennials who were financially capable were 176 % more likely to afford unexpected expenses, 224 % more likely to save for emergencies, 21 % less likely to use alternative financial services, and 30 % less likely to carry burdensome debt. Interventions that focus solely on financial education or inclusion may be insufficient for facilitating Millennials’ healthy financial behaviors; interventions should instead develop financial capability.     

What motivates single women to save? the case of Japan

Using Japanese panel data, we analyze precautionary savings due to staying single in the presence of income uncertainty. Our panel analysis finds that compared with young women who are likely to get married within 3 years, those who are not plan to have 44 percent more savings for precautionary purposes, and 108 percent more for retirement. These results suggest that in facing higher risk of income fluctuation due to choosing to marry late or remain unmarried, young women intend to have more wealth to mitigate the income risk inherent in single life.     

Perceptions of Financial Well-Being among American Women in Diverse Families

This study investigated the financial well-being of American women using data from a nationwide web survey of 368 women between the ages of 30 and 65 with household incomes of at least $40,000. Specifically, we examined perceptions of financial well-being among women with and without children who lived in different family forms including marriage, cohabitation, stepfamilies, as well as women who were single. The majority of women reported they had conservative buying behaviors, desired financial independence, had a somewhat negative view of their current financial situation, had worries about retirement and their financial futures, and considered long-term care insurance a necessity. Women in nontraditional families (single mothers, cohabitors, and stepfamilies) had significantly greater worries about their financial futures than women in first marriages. Single mothers were less likely to say that they had their financial house in order and were more likely to express concern that their money would not last through retirement. Cohabiting women were significantly more likely to express fears about becoming a burden. All three groups were more likely than women in first marriages to agree that long-term care insurance is a necessity. Women who were older, were more educated, had higher income, and who contributed more money to the household income had more positive perceptions of their financial situation.     

NUDGING LIFE INSURANCE HOLDINGS IN THE WORKPLACE

Using data from a university, we analyze a policy designed to increase employer‐sponsored life insurance. The university increased basic life insurance holdings, which nudged employees with supplemental coverage to have more life insurance. In large part due to inertia, the nudge increased life insurance holdings one‐for‐one for those who could have undone it. Additionally, we find that expanding coverage options significantly increased total life insurance holdings for new hires who were not subject to inertia. These policy changes reduced uninsured vulnerabilities for two‐thirds of employees. Our findings have important policy implications for addressing widespread disparities in life insurance coverage. (JEL D31, G22, D03, J32, J33, J38, H20)     

Women’s Household Preparation for Retirement at Young and Mid-Adulthood: Differences by Children and Marital Status

There are increasing concerns about whether Americans are saving enough for retirement. Recent research has called for improved understanding of the relationship between family structure and economic preparation for retirement at earlier stages of the life course. Using multiple years of the Federal Reserve Board’s Survey of Consumer Finances, we examined how number of children and marital status were associated with women’s household retirement savings at young and mid-adulthood. Several household-level indicators of retirement preparation were considered: desire to save for retirement, retirement account ownership, eligibility to participate in a defined-contribution plan, participation in defined-contribution plans, and retirement account wealth. Results from regression analyses revealed variation in women’s household financial preparation for retirement at young and mid-adulthood by family context. Additional children were negatively associated with several measures of retirement preparation among single-female households but not for couple households. Overall, we found that low economic preparation for retirement is an additional economic disadvantage facing single mothers at young and mid-adulthood, with potentially long-term implications for their financial security. The results shed light on linkages between family structure and women’s economic status.     

Till Porn Do Us Part? A Longitudinal Examination of Pornography Use and Divorce

As pornography use becomes more commonplace in the United States, and increasingly so among younger cohorts, a growing literature is considering its potential connection to key social and cultural institutions. The current study examined the relationship between pornography use and one such institution: marriage. We drew on three-wave longitudinal data from 2006 to 2014 General Social Survey panel studies to determine whether married Americans’ pornography use predicted their likelihood of divorce over time and under what social conditions. We employed a doubly robust strategy that combines entropy balancing with logistic regression models. We found that the probability of divorce roughly doubled for married Americans who began pornography use between survey waves (N = 2,120; odds ratio = 2.19), and that this relationship held for both women and men. Conversely, discontinuing pornography use between survey waves was associated with a lower probability of divorce, but only for women. Additional analyses also showed that the association between beginning pornography use and the probability of divorce was particularly strong among younger Americans, those who were less religious, and those who reported greater initial marital happiness. We conclude by discussing data limitations, considering potential intervening mechanisms and the possibility of reverse causation, and outlining implications for future research.