Prior research on the saving behavior of Chinese consumers gave indirect evidence of various saving motives. In contrast, this study examined saving motives directly reported by consumers in a national survey in China. Findings indicated that the three most commonly reported motives were saving...

The objective of this study is to examine the association between debt holding and subjective wellbeing using data from China. In recent years, consumer credit markets have been emerging and Chinese households have started to borrow for consumption. Some statistics show warning signs that...

Purpose: The purpose of this study is to examine the association between financial capability and informal bankruptcy, especially among families in which the respondent and/or spouse borrowed student loans to fund their own education and families that did not have such...

In this research we compare the risk preference attitudes and behavior between a sample of 470 Chinese workers and a sample of 2,671 Americans from the Survey of Consumer Finances. Our findings show that Chinese in our sample are more risk tolerant than Americans in their financial decisions,...

This study applied the theory of planned behavior to examine factors associated with the intention and behavior of staying in debt management plans (DMP) using data collected from a sample of clients of a national credit counseling agency. The findings of this study suggest that the behavioral...

This paper first describes the characteristics and behaviors of consumers who seek credit counseling. It then introduces major concepts of the Transtheoretical Model of Change (TTM) and demonstrates how TTM can be applied in the setting of consumer credit counseling. Practical issues related to...

MONEY 2000TM is a successful consumer education programme that was implemented by Cooperative Extension personnel in over two dozen states of the USA between 1996 and 2002. One of the unique features of this programme is that it was based on the Transtheoretical Model of Change (TTM), a...

Financial capability is an important factor that contributes to consumer financial wellbeing. In the research literature, financial capability has multiple meanings that could refer to financial literacy, financial behavior, financial access, and/or financial outcome, depending on different...

This study examines potential effects of overconfidence on financial advice usage. Financial literacy overconfidence is defined as the gap between consumers’ subjective and objective financial knowledge. Using a representative national survey, the result shows that over 11 percent of...

This article describes the current status and trends in the past three decades (1990–2019) of the Journal of Financial Counseling and Planning (JFCP). Since its first issue published in 1990, JFCP has become a major research outlet in consumer finance. The journal publishes cutting-edge,...