Ethnic Differences in Financial Outcomes Among Low-Income Older Asian Immigrants: A Financial Capability Perspective

ABSTRACT

This exploratory study examined ethnic differences in financial outcomes among low-income older Asian immigrants from a financial capability perspective. We used survey data collected from a convenience sample of Chinese, Korean, and “Other Asian” ethnic participants in a subsidized employment program (n = 159). We ran logit regressions of dichotomous financial outcomes. Regression analysis showed significant ethnic differences in some financial outcomes after controlling for financial capability and other factors. Findings did not support our hypothesis that financial capability explains ethnic differences in financial outcomes. Findings suggest the need to develop culturally suitable financial capability measures for future research.     

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.     

Letters to the Editor

ABSTRACT

To prepare students to work competently with financially at-risk individuals, families, and communities, social work schools need to bring economic literacy skills into the curriculum. This article describes an ambitious financial capability education initiative in New York City. It reports on a unique collaborative effort to develop, use, and evaluate online financial capability education among seven schools. Additionally, readiness and capacity for scaling up with upstate schools are explored, as their innovations in economic capacity building with special populations are cited.     

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.     

Adopting a financial capability and asset-building curriculum at historically Black colleges and universities

ABSTRACT

Social workers currently engage in financial capability practice with low-income and financially vulnerable individuals and families in diverse practice settings, but typically lack professional preparation for this work. In response, several schools of social work have begun adopting financial capability curricula. Using an in-depth interview methodology, this study examines the adoption of a curriculum in financial capability and asset building (FCAB) from the perspectives of faculty and administrators (N = 19) at four historically Black colleges and universities (HBCUs). Findings show that key reasons for curriculum adoption are prior working relationships and trust, relevance of FCAB content to student and community needs, and alignment with program, institutional, and professional goals. Using the diffusion of innovation theory to understand curriculum adoption in HBCUs suggests that perhaps trust and relationship building are particularly important in the case of minority serving institutions.     

Financial Capability and Asset Building in Social Work Education: Is It “The Big Piece Missing?”

ABSTRACT

Although social workers recently have renewed the profession’s historical focus on the financial well-being of vulnerable families, they receive little professional education to prepare them for this work. This study examines the implementation and outcomes of infusing a financial capability and asset building (FCAB) curriculum in a variety of social work courses in 11 minority-serving baccalaureate colleges and universities. Analysis of in-depth interviews with 24 faculty and administrators finds that respondents believe students gained understanding and appreciation for FCAB. Faculty also reported greater confidence in teaching FCAB concepts and skills. Pre- and posttest surveys with 261 students indicate changed attitudes, confidence in helping clients with basic financial management, knowledge about financial capability, and improvement in some personal financial behaviors.     

Retirement Intentions of Same-Sex Couples

Summary

Retirement intentions of same-sex and opposite-sex couples were investigated. Data were drawn from the Cornell Couples and Careers Study. The sample consists of 32 women in same-sex relationships, 7 men in same-sex relationships, 30 men and women in cohabiting relationships, and 30 married men and women. Participants' responses to such questions as age expected to retire, age they began retirement planning, degree of financial planning for retirement, degree of preparation for housing and healthcare, and plans for post-retirement work and volunteering were analyzed. Female same-sex couples self-rate on financial planning for retirement to a significantly lower degree than married couples. The implications for post-retirement well-being and the need for financial planning are discussed.     

Reporting Rape in a National Sample of College Women

Abstract

Background: Studies indicate that a small percentage of rapes are reported to law enforcement officials. Research also suggests that rapes perpetrated by a stranger are more likely to be reported and that rapes involving drugs and/or alcohol are less likely to be reported. College women represent a unique and understudied population with regard to reporting rape. Methods: In the current study, the authors interviewed a national sample of 2,000 college women about rape experiences in 2006. Results: Only 11.5% of college women in the sample reported their most recent/only rape experience to authorities, with only 2.7% of rapes involving drugs and/or alcohol reported. Minority status (ie, nonwhite race) was associated with lower likelihood of reporting, whereas sustaining injuries during the rape was associated with increased likelihood of reporting. Discussion: Reporting, particularly for rapes involving drugs and alcohol, is low among college women. Implications for policy are discussed.     

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.     

A Review of Lesbian Depression and Anxiety

SUMMARY

The Surgeon General's first report on mental health identified depression and anxiety as significant mental health issues that disproportionately affect women. Research indicates that lesbians experience depression at rates that parallel those of the general female population, suggesting that depression is an important mental health issue for lesbians. Given the high rate of comorbidity between depression and anxiety disorders, it is likely that many depressed lesbians have struggled with problems related to anxiety as well. This paper reviews literature pertaining to lesbians and depression including incidence rates, risk factors, suicidality and treatment approaches, and stress and anxiety that may also contribute to the experience of depression among lesbians.     

Social Security Reform

Abstract

Despite recent economic gains for women, a substantial gender gap in financial security during old age remains, making women more dependent than men upon Social Security. Social Security plays an important role in providing for women's economic security. The implications for women of several proposed changes in Social Security policy, including the call for the partial privatization of Social Security via the introduction of individual accounts, are analyzed. Many of the proposals would have the effect of asking women, particularly low-income women, to shoulder a disproportionate share of the risks and burdens associated with the changes.     

Utility of linking survey and registry data to evaluate interventions and policies to address disparities in breast cancer survivorship among young women

PurposeThere is limited research linking data sources to evaluate the multifactorial impacts on the quality of treatment received and financial burden among young women with breast cancer. To address this gap and support future evaluation efforts, we examined the utility of combining patient survey and cancer registry data.Patient and MethodsWe administered a survey to women, aged 18–39 years, with breast cancer from four U.S. states. We conducted a systematic response-rate analysis and evaluated differences between racial groups. Survey responses were linked with cancer registry data to assess whether surveys could reliably supplement registry data.ResultsA total of 830 women completed the survey for a response rate of 28.4 %. Blacks and Asian/Pacific Islanders were half as likely to respond as white women. Concordance between survey and registry data was high for demographic variables (Cohen’s kappa [k]: 0.879 to 0.949), moderate to high for treatments received (k: 0.467 to 0.854), and low for hormone receptor status (k: 0.167 to 0.553). Survey items related to insurance status, employment, and symptoms revealed racial differences.ConclusionCancer registry data, supplemented by patient surveys, can provide a broader understanding of the quality of care and financial impacts of breast cancer among young women.     

Depressive Distress and Prevalence of Common Problems Among Homosexually Active African American Women in the United States

SUMMARY

We report findings from a national survey of 603 homosexually experienced African American women who self-identified as lesbian, gay, or bisexual. Levels of psychological distress greatly exceeded population norms for African American women. The most frequent problems participants reported were romantic relationship and financial difficulties. Problems with using drugs or alcohol to self-medicate psychological distress were the most chronic stressors. Although 31% of women indicated they received emotional support from a counselor or other professional in the prior month, the least likely to receive support were those reporting chronic financial, housing, anger, or substance use problems. These findings underscore the vulnerability of African American women, who navigate the triple stigma of having a minority ethnicity, sexual orientation, and gender.     

Psychological Distress and Related Factors in Female College Students

Abstract

Objective: This study assessed the psychological distress in Spanish college women and analyzed it in relation to sociodemographic and academic factors. Participants and Methods: The authors selected a stratified random sampling of 1,043 college women (average age of 22.2 years). Sociodemographic and academic information were collected, and psychological distress was assessed with the Symptom Checklist-90–Revised. Results: This sample of college women scored the highest on the depression dimension and the lowest on the phobic anxiety dimension. The sample scored higher than women of the general population on the dimensions of obsessive-compulsive, interpersonal sensitivity, paranoid ideation, psychoticism, and on the Global Severity Index. Scores in the sample significantly differed based on age, relationship status, financial independence, year of study, and area of study. Conclusion: The results indicated an elevated level of psychological distress among college women, and therefore college health services need to devote more attention to their mental health.     

Examining the role of racism in the risky alcohol use behaviors of black female college students

Objective: This study explores the impact racism has on the drinking behaviors of Black college women. Little is known about Black college women's experience of racism and the impact racism has on their psychological wellbeing and drinking behaviors. The current study fills a gap in our understanding of the role racism plays in the risky drinking behavior of Black college women. Participants: 469 Black college women ages 18–29 were sampled from 8 colleges and universities across the US, in 3 waves from December 2014-August 2017. Results: Findings suggest that general life stress and perceived racism are significantly associated with alcohol use among Black college women. However, only increased experiences of racism increase Black college women's engagement in risky drinking. Conclusions: The findings of this study serve as an entry point for a more nuanced assessment of stressors among Black college women that may inform drinking behaviors in this population.     

Best Practices in the Treatment of Substance-Abusing Women in the Child Welfare System

ABSTRACT

This paper reviews the literature on women's chemical dependency and its effects on their children. Many risk factors (e.g., a history of traumatic exposure) and consequences (interference with parenting) of substance abuse are unique for women, giving rise to special treatment needs of substance-abusing women with children. Substance-abusing mothers also experience unique barriers to receiving the services they need to recover, such as absence of child care and lack of gender-specific treatment in their communities. Model programs are described and recommendations are offered for best treatment practices for women with chemical dependency who present in the child welfare system.     

Predictors of Depression Among Lesbian Women

ABSTRACT

There is a paucity of research on depression and lesbian women. This is surprising given that large numbers of women experience depressive episodes and lesbian women in particular face an increased number of stressors related to their sexual orientation. This study explored how social support from family, social support from friends, relationship involvement, and sexual orientation disclosure related to and predicted depression for a sample of lesbian women. Information from 117 questionnaires was compiled from self-identified lesbians recruited through various lesbian-positive groups and snowball sampling. Results indicated significantly lower depression rates for women who were in a relationship and moderate negative correlations between depression and social support from family, social support from friends, and sexual orientation disclosure. Standard multiple regression analysis showed that 38% of the variability in depression scores was predicted by knowing the scores on the four independent variables. These results suggest that each of the independent variables has a significant effect on level of depression for lesbian women in the sample.     

The Process of Problem Pregnancy Counseling

Abstract

Effective counseling for women experiencing an unwanted pregnancy can facilitate quality decision making and personal growth. Supportive counseling minimizes the trauma and the potential for emotional deterioration. Timely counseling augments a woman's coping ability with this current life crisis and provides her with a positive, growth-producing experience. A counseling process to accomplish these objectives is described. The concepts of crisis theory and active decision making are applied to the pertinent social, emotional, and medical ramifications of pregnancy, parenthood, and abortion. Subjective reporting and clinical experience indicate that women receiving such counseling are better able to deal with and resolve the crisis of unwanted pregnancy.     

Understanding Chinese Battered Women in North America

SUMMARY

Spouse abuse is an ignored, invisible, but significant problem in the Chinese community. This paper describes the experience of Chinese battered women in North America and provides suggestions for culturally sensitive and competent interventions for them. The discussion is based on an extensive review of the literature regarding Chinese battered women. In understanding the experience of Chinese battered women and their strategic responses to the abuse, helping professionals are urged to consider cultural, contextual, as well as individual factors including family dynamics. A three-tier model of intervention for treatment of spouse abuse in the Chinese community is proposed that targets the individual battered women, the family system, and the larger community.     

Financial capability and psychological health

Financial capability is receiving increasing interest among policy makers, who wish to reduce problem debt and welfare dependency and increase savings and general skills. We examine whether financial capability has impacts on psychological health independent of income and financial resources more generally using a nationally representative survey. Data from the British Household Panel Survey 1991-2006 are used to construct a measure of financial capability, which we relate to respondents’ psychological health using the 12-item General Health Questionnaire. Estimates from within-group panel data models indicate that financial capability has significant and substantial effects on psychological health over and above those associated with income and material wellbeing more generally. For men, having low financial capability has an effect larger than that associated with being unemployed, while for women it is similar to that of being divorced. Furthermore having low financial capability exacerbates the psychological costs associated with unemployment and divorce, while high financial capability reduces these costs.