The purpose of this study was to compare and contrast the predictive validity of risk tolerance questionnaires. The tested questionnaires represented measures derived from economic and psychometric theory. It was determined that questionnaires based on economic theory had similar predictive...

The purpose of this study was to test several propositions imbedded in Stanley and Danko's (1996) ground breaking book, The Millionaire Next Door. Given the book's impact in shaping the type of advice provided by those in the media and many financial planners and wealth managers, this study was...

In many ways, the management of a household's personal finances is a job that can be analyzed and evaluated like other occupations. Household financial management has several criteria of performance (e.g., savings rate, net worth) making it possible to evaluate the relative effectiveness of an...

Household financial management has several criteria of performance that makes it possible to evaluate the relative effectiveness of an individual in the particular job. To date, there has been little analysis of the myriad tasks and behaviors that are included in the role of a household...