No abstract

The purpose of this study was to increase the understanding of family financial status. Sixty families from rural and urban areas in Indiana volunteered to keep records for 2 years. Data were examined to determine the direction, dollar, and percentage changes in net worth; to determine association of certain factors with net worth change; to describe the asset accumulation and liability reduction in net worth changes; and to describe family characteristics in relation to changes in net worth. Fifty‐two families increased their net worth over the 2 years in amounts ranging from $69 to $40,419, while eight decreased theirs in amounts ranging from $5,912 to $149. Mean change for all families was $4,147. The eight highest percentage changes in net worth ranged from 77 to 182 percent while the eight lowest percentage changes ranged from negative 63 to negative 1 percent. Median change was 15 percent. Components of net worth at the beginning of the period associated with dollar change were interest accounts, cash value of life insurance, and common stocks. Dollar change in net worth was related to changes in real estate assets, real estate equity, mortgages, business, and stocks; and to changes in the percentages of total assets in bonds, cash value of life insurance, and interest accounts.

Teenagers' perspective of disagreement over family finances and related factors were investigated. Involvement of teenagers in employment and percentage of earnings kept for personal use were examined. Reasons for employment affected disagreement over finances, whereas family income had no important effect on disagreement over finances in multivariate analysis. Disagreement over finances was important in explaining variation in satisfaction with money management in the family and in satisfaction with family life. Results have implication for reducing stress in family life and for contributing to theory on family resource management and adolescent development.

No abstract

No abstract