Financial Help-Seeking Behaviors of Young Adults

Q4 Social Sciences

Journal of Financial Therapy Pub Date : 2020-08-31 DOI:10.4148/1944-9771.1212

Christina Glenn, Stuart J. Heckman

引用次数: 1

Abstract

The financial help-seeking behaviors of Millennials are explored and guided by the Family Financial Socialization conceptual model developed by Gudmunson and Danes (2011). Using data from the 1997 cohort of the National Longitudinal Study of Youth, a random effects probit model was used to estimate the probability of a respondent seeking financial advice at any point in time from 2006 to 2013. Results indicate personal and family demographic characteristics are associated with the decision to seek financial advice. Further analysis was conducted to determine the probability of seeking help from a financial professional. Among those who sought help, gender, marital status, income, education, financial knowledge, and parent education were significant predictors in the decision to seek help from a professional rather than a non-professional.

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年轻人的经济求助行为

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来源期刊

Journal of Financial Therapy Economics, Econometrics and Finance-Finance

CiteScore

0.80

自引率

0.00%

发文量

审稿时长

29 weeks

期刊介绍： All manuscripts received are blind peer reviewed. Because of the clinical focus of the journal, authors are encouraged to address the conceptual methodology underlying the research and to describe the intervention methods employed. Although detailed reviews of literature are accepted, reviewers tend to appreciate manuscripts with a very strong introduction describing the purpose of the study, a well described conceptual framework, concise presentation of findings, and a thorough discussion of results that are applicable to practicing financial therapists, financial counselors, psychologists, marriage and family therapists, and others who regularly work in clinical settings. Topics of interest to readers and reviewers include: *Pre- and post-test analyses of counseling and financial therapy methods *Tests showing the effectiveness of financial education in changing both attitudes and behaviors *Financial therapy trends *Regulation of financial therapy *Ethical issues associated with financial therapy *Practice management techniques *Client assessment and management procedures *Employee counseling and therapy *Financial therapy research methodological and statistical procedures *Book reviews and letters The Journal of Financial Therapy is sponsored by the Financial Therapy Association and currently housed within the Institute of Personal Financial Planning at Kansas State University. The Journal provides a forum for those who are interested in financial therapy with a forum for sharing models, theory, ideas, strategies, and therapy approaches.