The relationship between financial strain,perceived stress,psychological symptoms,and academic and social integration in undergraduate students

ABSTRACT

Objective: Financial strain may directly or indirectly (i.e., through perceived stress) impact students’ psychological symptoms and academic and social integration, yet few studies have tested these relationships. The authors explored the mediating effect of perceived stress on the relationship between financial strain and 2 important outcomes: psychological symptomology and academic and social integration. Participants: Participants were 157 undergraduate students. Data were collected from December 2013 to March 2014. Methods: Cross-sectional data collection conducted using online survey software. Results: It was found that perceived stress mediated the relationship between financial strain and (a) psychological symptomology and (b) academic and social integration. Both models included first-generation status as a covariate. Conclusions: Results suggest that perceived stress is an important intervention target for reducing psychological symptoms and improving academic and social integration for undergraduate students. Implications for university health centers and mental health professionals include incorporating a public health model to minimize stress risk.     

Financial decision-making abilities and financial exploitation in older African Americans: Preliminary validity evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS)

ABSTRACT

This study examines preliminary evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS), a new person-centered approach to assessing capacity to make financial decisions, and its relationship to self-reported cases of financial exploitation in 69 older African Americans. More than one third of individuals reporting financial exploitation also had questionable decisional abilities. Overall, decisional ability score and current decision total were significantly associated with cognitive screening test and financial ability scores, demonstrating good criterion validity. Study findings suggest that impaired decisional abilities may render older adults more vulnerable to financial exploitation, and that the LFDRS is a valid tool.     

The Lichtenberg Financial Decision Screening Scale (LFDSS): A new tool for assessing financial decision making and preventing financial exploitation

ABSTRACT

One of the challenges in preventing the financial exploitation of older adults is that neither criminal justice nor noncriminal justice professionals are equipped to detect capacity deficits. Because decision-making capacity is a cornerstone assessment in cases of financial exploitation, effective instruments for measuring this capacity are essential. We introduce a new screening scale for financial decision making that can be administered to older adults. To explore the scale’s implementation and assess construct validity, we conducted a pilot study of 29 older adults seen by APS (Adult Protective Services) workers and 79 seen by other professionals. Case examples are included.     

Financial Abuse of Elders and Dependent Adults: The FAST (Financial Abuse Specialist Team) Approach

ABSTRACT

The Financial Abuse Specialist Team, a partnership of professionals from diverse disciplines, volunteer their time to review cases of financial elder abuse and facilitate comprehensive service delivery. The team also advocates for legislative reform, educates the community about the problem, and trains professionals in how to recognize, prevent, and resolve financial elder abuse.     

Building Financial Knowledge Is Not Enough: Financial Self-Efficacy as a Mediator in the Financial Capability of Low-Income Families

ABSTRACT

Policymakers in many countries have taken an interest in population-level financial capability. Limited empirical work has examined how constructs that makeup financial capability relate and how they function for individuals with low incomes. Using a national sample of low-income Canadians, we investigate relationships between financial knowledge, financial self-efficacy, and savings outcomes. Overall, we find that financial self-efficacy fully mediated the relationship between objective financial knowledge and postsecondary-education saving. The association between objective financial knowledge and retirement saving and emergency saving passed through financial self-efficacy. Efforts to promote financial capability need to focus on more than objective financial knowledge.     

Improvement of financial management by local government: Computer model implementation

Abstract

We develop a computerized optimization model and present its implementation for improvement of financial management at the local government (LG) level. An example of the real-life long-term budget planning and analysis, helped by the model, is presented. The analysis exemplifies good governance practice and observation of standards of efficient management in the area of long-term financial, investment and safe debt planning. These analyses also demonstrate ways of accessing maximum, feasible level of investment expenditure and maximum capacity of a municipality to borrow with all safety measures provided. The model supports informed decision-making process by LG managers, decreases the level of risk and enhances quality and transparency of governance.     

Permission-Giving and Marital Infidelity

ABSTRACT

The research used qualitative methods to begin exploring how individual’s decision-making enhances their risk of having a marital affair. Particularly how does a woman give herself permission to move forward with having an affair? Semistructured interviews were recorded with women who had a marital affair and then transcribed in preparation for coding. The transcendental phenomenological model was used to analyze the data collected. Sensitizing concepts were used as a base in identifying how participants were able to limit their cognitive dissonance as a way of giving themselves permission to have an affair. The results found four methods of limiting cognitive dissonance: not being worthy of loyalty, rationalization, guilt-free infidelity, and compartmentalization. Clinical implications are discussed.     

Financial Exploitation of Older Persons

Abstract

Financial exploitation is a recognized social problem of unknown, though likely increasing, magnitude. It can occur through numerous methods, including the misuse of powers of attorney and guardianship, illegal transfers of property, and outright fraud and theft. Financial crimes against older persons are difficult to address because they often go unreported. This paper provides a summary of findings from a study of financial exploitation of older persons. We review what is known about the nature and scope of financial exploitation of older persons and describe barriers to addressing the problem. We also identify gaps in knowledge, discuss current methods for addressing financial exploitation, and provide recommendations and suggested policy approaches for prevention and remediation.     

Employee financial wellness programs: Opportunities to promote financial inclusion?

ABSTRACT

Employee financial wellness programs (EFWPs) are a new practice that may promote financial inclusion by making it easier for workers with low- and moderate-incomes (LMI) to access financial services. We examine the strengths and limitations of workplace financial counseling, credit-building services, and small-dollar loans, and describe community collaboration to promote employee financial wellness. Findings suggest that these services are reaching a population that experiences financial exclusion, though evidence is mixed concerning how these services help workers with LMI resolve key financial challenges. Community collaboration focused on employee financial wellness presents opportunities to advocate for higher wages and better benefits.     

Toward Culturally Sensitive Financial Education Interventions with Latinos

ABSTACT

To expand the financial capability of Latinos, culturally sensitive interventions are needed. A literature search was conducted to examine how financial education interventions have been used to improve financial outcomes for Latinos. Just 7 peer-reviewed intervention studies were identified, suggesting a substantial gap in knowledge in this area. Although conclusions about the effectiveness of financial education interventions with Latinos are limited, each study finds positive changes in financial attitudes or behaviors. Using Resnicow’s (1999) cultural sensitivity framework, surface and deep structure methods of tailoring financial education were identified. Implications for designing and testing culturally sensitive financial education interventions are discussed.     

Affordable Financial Services and Credit for the Poor

Abstract

The financial services and sources of credit available to poor families affect the rate at which families can be financially empowered through building assets. This paper provides background information on financial services, including credit sources, which are available for low-income people and communities. Also discussed are policies affecting financial markets and promising innovations in delivering affordable financial services to low-income families. Implications for social work education, practice and advocacy are discussed.     

Couples,Money, and Expectations: Negotiating Financial Management Roles to Increase Relationship Satisfaction

How couples handle money has become a popular subject among scholars, practitioners, and the popular press. However, little is known about how finances should be treated within a clinical context. This study examined the financial management roles in which couples participate and their satisfaction level with these roles as well as couples' communication tactics surrounding money and their impact on relationship and financial satisfaction. Results suggested that having shared goals and values about money were a stronger predictor of relationship satisfaction than were communication strategies. In addition, satisfaction with one's financial management role participation may be more important than self-reported financial management roles each partner performs. In this study, financial management roles included 19 areas, including responsibilities such as bookkeeping, financial decision-making, and taxes.     

Financial Knowledge and Behaviors of Chinese Migrant Workers: An International Perspective on a Financially Vulnerable Population

ABSTRACT

Making informed financial decisions is crucial to the wellbeing of Chinese migrant workers. Using interview survey data (N = 329), this study examined financial knowledge and behaviors of migrant workers in China. Results showed that participants demonstrated low levels of financial knowledge (51.4%) and beneficial financial behaviors (51.0%). Multivariate results indicated that a modest proportion of the variance in financial behaviors was explained by financial knowledge, attitudes, and socio-demographic characteristics (e.g., marital status and income). Findings underscore the importance of disseminating culturally-relevant educational interventions to financially at-risk, low-paid migrant workers in China.     

A Telephone Counseling Program for Elder Abuse in Japan

ABSTRACT

In the 21st century, one-fourth of the Japanese population will be 65 years and older. Not only is the duty to report elder abuse not defined by the law but there is no special organization with clinical facilities to respond to incidents of elder abuse. A report in 1994 by the Society for the Study of Elder Abuse (SSEA) showed the need for definitive social measures to prevent elder abuse. Based on that research, SSEA organized the Japan Elder Abuse Prevention Center and initiated a volunteer telephone counseling service “Help Line” that was available for several hours on Mondays. Within an 18 month period, 209 cases were handled of which 150 concerned abuse, neglect, and financial exploitation. Callers were more often the elder or the daughter than other relatives or outsiders. Sons were the more prevalent perpetrators, and financial abuse the most common type of mistreatment reported. Recommendations include new laws and social welfare policies that adapt to the changes in an aging society.     

Releasing the full transformative power of feminism

ABSTRACT

In the current political situation - with the crisis of democracy, shrinking civic spaces and dominant repression along with the rise of right-wing political movements, the current article aims to show the powerful roles feminisms play in the struggles of social movements. It focuses on the aspect of power, domination, authority, neoliberal forces and systems of oppression in order to propose alternative models based on concrete experiences from the ground of anti-capitalist, anti-imperialist, and anti-patriarchy actions. Stories from Rojava, Kenya, and the Basque country; interviews; and literature review are used to show how women's efforts to achieve a balance of power and inclusion in decision-making is shifting the models of leadership, forcing changes in law and putting women at the centre of social movements by advocating for a change in social relations. All these interconnections propose a process of democratization as a tool for radical social change by delivering decision-making back to women and people.     

Sirens’ Call: Understanding Poor Financial Decision Making and Credit Card Misuse

Poor financial decision-making paradigms such as misuse of credit cards exist as ruinous forms of personal debt. Psychiatric and physical health problems arise from financial distress. Significant challenges exist for consumers to become financially solvent. Obstacles that exist in overcoming financial stressors can be explained by behavioral economic theories. These theories explain why consumers make unwise financial decisions. Research, practice implications, and a financial therapy model for improving financial decision-making skills are presented. The need for social work to ally with family economic scholars and policymakers around financial literacy and the development of effective financial therapy interventions is discussed.     

Social Justice,Social Policy,and Social Work

ABSTRACT

This paper argues that the models underlying the conceptualization of social work functions affect the costs of integrating policy issues into practice, and, therefore, the probability that social justice goals will be pursued. An inclusive approach to policy design is seen as lowering those costs. The nature of the costs and how they vary between the models is discussed.     

Comparing child protection decision-making in England and Finland: supervised or supported judgement?

ABSTRACT

Systems for the protection of children have evolved differently across nation states. Studies have identified contrasting system ‘orientations’, related to how child protection problems are framed and how organisations respond in different contexts. In this study, the influence of national and organisational factors on practice-level decision reasoning by social workers has been compared. Interviews were conducted with 30 child protection social workers in sites across England and Finland, structured around two hypothetical case vignettes. While similarities were observed in how the social workers responded to the vignettes, there were differences in the nature and extent of managerial involvement described, with the English social workers appearing to rely on managerial input for decision-making to a greater extent than the Finnish social workers. These findings suggest evidence for two distinct organisational approaches to decision-making: ‘supervised’ and ‘supported’ judgement. Here, supervised judgement describes a hierarchical, ‘top-down’ form of decision-making, while supported judgement describes a more horizontal and shared decision-making approach. The lens of comparative methodology has revealed how these organisational factors come into play in different child protection systems. The practice implications of supervised, manager-led approaches to decision-making, as contrasted with supported, team-led approaches, are discussed.     

Family Well-Being During the COVID-19 Pandemic: The Risks of Financial Insecurity and Coping

During the COVID-19 pandemic, families have experienced unprecedented financial and social disruptions. We studied the impact of preexisting psychosocial factors and pandemic-related financial and social disruptions in relation to family well-being among N = 4091 adolescents and parents during early summer 2020, participating in the Adolescent Brain Cognitive Development^SM Study. Poorer family well-being was linked to prepandemic psychosocial and financial adversity and was associated with pandemic-related material hardship and social disruptions to routines. Parental alcohol use increased risk for worsening of family relationships, while a greater endorsement of coping strategies was mainly associated with overall better family well-being. Financial and mental health support may be critical for family well-being during and after a widespread crisis, such as the COVID-19 pandemic.     

Digital crime,trauma, and abuse: Internet safety and cyber risks for adolescents and emerging adults in the 21st century

ABSTRACT

The shift in the technology landscape has altered the technology ecosystem of adolescents and emerging adults in the 21^st century. Yet, with greater use of digital gadgets comes greater mental health risks that technological advancement brings. This study provides a narrative review of contemporary cyber risks faced by adolescents and emerging adults. In particular, this review will cover dangers and effects of cyber-bullying, social media, cyber-dating violence, sextortion, sexting, revenge porn, online dating, catfishing, and scammers, with an emphasis to raise awareness and encourage proactive efforts dedicated to address these social concerns as the digital era continues to evolve.