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Journals & Articles
A Decade Review of Research on College Student Financial Behavior and Well-Being by Suzanne Bartholomae and Jonathan J. Fox
ABSTRACT
The last decade of research on college student financial wellness was driven by the onset of the “student loan debt crisis.”
Prior to the focus on student loans, credit card use and marketing was the primary area of interest for those studying young
adult finances on campuses. This paper consolidates the findings reported in twenty papers related to college student
finances that were published in the Journal of Family and Economic Issues between 2010 and 2019. The work is organized
into individual financial behaviors and its antecedents, followed by a summary of studies that study well-being indicators.
The reviewed studies address fnancial behaviors as products of individual and personal characteristics, family relationships
and formal socialization processes, and how these factors infuence general well-being outcome. Though the approaches
vary widely across published studies, each addressed at least one outcome within the socialization model. Credit card and
student loan fnancial behaviors are common factors in determining well-being, their resulting impact on fnancial or general
subjective well-being are mixed at best. The area of research is relatively new and directions for future research are outlined.
Studies of emerging adults over time, replication of previous work, consistency in approach to measuring key constructs,
and commitment to theoretically based approaches to research will all help to clarify our understanding of college students’ transition to financial independence
Publication Date: 2021
Financial Wellness and Relationship Satisfaction: Does Communication Mediate? by Melissa J. Wilmarth, Robert B. Nielsen and Ted G. Futris
ABSTRACT
This research investigated if married couples' positive and negative communication patterns mediate the association between financial wellness and relationship satisfaction. Data were collected from married individuals in a southern state in 2007 (N = 515) and 2011 (N = 489). Guided by social exchange theory, structural equation models isolated the mediating effects of positive and negative communication patterns. In concert with a consistent and positive direct path from financial wellness to relationship satisfaction, financial wellness was positively associated with positive communication patterns and negatively associated with negative communication patterns. Although a mediating role for positive communication was not identified, negative communication patterns indicated full mediation with the 2007 sample and partial mediation with the 2011 sample. Implications for understanding the effects of finances and couple communication processes on relationship satisfaction are discussed.
Publication Date: 2014
The Relationship Between Personal Financial Wellness and Financial Wellbeing: A Structural Equation Modelling Approach by Paul Gerrans, Craig Speelman, and Guillermo Campitelli
ABSTRACT
We examined the construct of financial wellness and its relationship to personal wellbeing, with a focus on the role of financial literacy. Gender comparisons are made using a structural equation modeling analysis including personal wellbeing, financial satisfaction, financial status, financial behavior, financial attitude, and financial knowledge. Males ranked higher in financial satisfaction and financial knowledge whereas females ranked higher in personal wellbeing. Joo's ( 2008 ) concept of financial wellness as multidimensional is supported though the result is improved when a causal model of sub-components is estimated. The relationship of all variables to personal wellbeing is mediated by financial satisfaction, with gender differences: In females the main source of financial satisfaction is financial status whereas in males it is financial knowledge.
Publication Date: 2014
Teaching Personal Finance to College Students: What Matters to Them by Elven Riley
ABSTRACT
We used specific financial life decisions, unavoidable immediately after graduation, to engage undergraduates in a one-credit university-wide general elective financial literacy course. We identified practical financial learning topics based on age-typical goals and then assembled 'how to' information for each goal while eliminating much of the theoretical academic 'why.' The analysis exposed decisions to be made and we introduced behavioral finance concepts matched to these decision discussions. We include a list of our topics found and not found in current textbooks to highlight how anchoring the learning objectives in the student life experience is a novel approach.
Publication Date: 2015
This work is licensed under CC BY-NC-SA 4.0
