Student Debt and Healthcare Service Usage

Pearson, Blain; Lee, Jae Min

doi:10.1891/jfcp-2021-0030

Cited by 8 publications

(5 citation statements)

References 25 publications

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“…These adjectives were based on a 31‐item assessment provided by the Midlife Development Inventory (MIDI). The scale provided by MIDI has been used in consumer sciences studies consistently such as Asebedo (2019), Pearson et al (2023), and Tharp et al (2020). Most of these adjectives were reverse coded to where 1 represents not at all, and 4 represents a lot.…”

Section: Methodsmentioning

confidence: 99%

Perception versus the reality of financial situation: The role of personality traits in the United States

Olajide,

Asebedo,

Lacombe

et al. 2023

Journal of Consumer Affairs

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An individual might have a net worth of $10,000 and believe they are in great shape financially, while another individual might have $100,000 and feel otherwise. Could personality explain this disparity between perception and reality of their financial situation? This study answers this research question using data from the 2018 Health and Retirement Study (HRS). Findings from this study show that conscientious and extraverted consumers believe they are doing better than they are. Conversely, consumers who exhibit traits relating to neuroticism, openness to experience, and agreeableness think their financial situation is worse than it is. These findings have implications for consumers, professional advisors, and policymakers.

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Section: Methodsmentioning

confidence: 99%

Perception versus the reality of financial situation: The role of personality traits in the United States

Olajide,

Asebedo,

Lacombe

et al. 2023

Journal of Consumer Affairs

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show abstract

“…Individuals who are high on conscientiousness tend to be more cautious in their investment decision‐making and are likely to have better financial knowledge. This trait is associated with participation in short‐term investing (Mayfield et al, 2008), lower likelihood of investing in stocks (Wiesel, 2017), and lower levels of unsecured debt (Brown & Taylor, 2014; Pearson et al, 2023; Sommer & Lim, 2022). In general, conscientiousness has been linked to prudent financial behaviors, as people who score high on this trait may choose to reduce the uncertainty of future stock market risk by holding no or fewer stocks in their investment portfolios.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

“…Research shows that many factors, including personal characteristics, shape participation in stock investment (Gambetti & Giusberti, 2019). For instance, studies have shown that financial literacy (Almenberg & Dreber, 2015), cognitive skills (Frederick, 2005), and market expectations and beliefs (Li & Li, 2015; Pearson et al, 2023) are associated with stock market participation and investment decisions. Additionally, researchers have found a connection between personality and investment decision‐making (Gambetti & Giusberti, 2019).…”

Section: Introductionmentioning

confidence: 99%

Personality, financial risk‐taking attitude, and older individuals' stock investment decisions

Liu,

Del Asebedo,

Pearson

2023

Fin Plan Rev

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This study investigates the relationship between personality traits and older individuals' stock investment decisions using structural equation modeling. The results suggest that greater openness and extraversion are associated with a higher propensity to participate in stock investments and hold a larger proportion of stock investments relative to their other financial assets. Additionally, the findings suggest that those with greater conscientiousness and agreeableness are less likely to hold stock investments and tend to hold smaller proportions of stock investments relative to other financial assets. Last, the results indicate that those with greater openness and extraversion are more willing to take financial risks, whereas those with greater conscientiousness and agreeableness display less willingness to take financial risks.

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“…Studies have concluded that the complexities and breadth of the household financial landscape is one of the major challenges confronting households (Hastings et al 2013;Pearson and Lee 2022). Exacerbating this challenge is the widespread nature of financial illiteracy (Lusardi 2008).…”

Section: Introductionmentioning

confidence: 99%

Managing Household Finances: How Engaging in Financial Management Activities Relates to the Experiential Well-Being of Americans

Korankye

Pearson

2023

JRFM

Self Cite

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This study examines how engagement in financial management activities influences well-being using nationally representative data (N = approximately 30,000) from the U.S. Bureau of Labor Statistics’ American Time Use Survey and its associated Well-Being Modules. The current study estimates ordered probit models for several measures of experiential well-being, which consider how meaningful an activity is for a household and how happy, sad, tired, in pain, and stressed respondents felt during the activity. Controlling for a standard set of demographic and socioeconomic factors, the econometric results indicate that households report lower utility gains (lower happiness, greater sadness, and higher stress) when engaging in financial management activities relative to other activities. Furthermore, the results suggest increases in household time allocated toward performing financial management activities is associated with a lower (higher) likelihood of being very happy (very stressed) compared to other activities. The findings strongly indicate that households perceive financial management activities as vexing, reinforcing the need for financial stewardship support to promote household well-being.

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Student Debt and Healthcare Service Usage

Cited by 8 publications

References 25 publications

Perception versus the reality of financial situation: The role of personality traits in the United States

Perception versus the reality of financial situation: The role of personality traits in the United States

Personality, financial risk‐taking attitude, and older individuals' stock investment decisions

Managing Household Finances: How Engaging in Financial Management Activities Relates to the Experiential Well-Being of Americans

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