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Family, Life Course, and Society

Journal of Financial Therapy

2018

Articles 1 - 14 of 14

Full-Text Articles in Social and Behavioral Sciences

Financial Infidelity In Couple Relationships, Michelle Jeanfreau, Kenji Noguchi, Michael D. Mong, Hans Stadthagen Jan 2018

Financial Infidelity In Couple Relationships, Michelle Jeanfreau, Kenji Noguchi, Michael D. Mong, Hans Stadthagen

Journal of Financial Therapy

Four hundred and fourteen participants answered questions regarding financial habits within the context of the couple relationship. The Big Five Personality Inventory and a Martial and Life Satisfaction Scale were used to determine the incidence and factors associated with financial infidelity. Results indicated that 27% of participants have kept a financial secret from their partner. Furthermore, both marital and life satisfaction were lower for participants who have experienced financial infidelity than in those who have not. Finally, conscientiousness, a factor from the Big Five Personality Inventory, showed a significant difference, suggesting that more organized individuals were less likely to keep …

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Editorial Vol 9 Issue 2, Kristy L. Archuleta Jan 2018

Editorial Vol 9 Issue 2, Kristy L. Archuleta

Journal of Financial Therapy

Editorial Vol 9 Issue 2

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Book Review: Financial Counseling, Timi Jorgensen Jan 2018

Book Review: Financial Counseling, Timi Jorgensen

Journal of Financial Therapy

This full-service book provides a historically-situated, systemic introduction of the financial counseling profession and an overview of the financial counseling process. The 14 chapters are a compilation of articles written by 26 of the best minds in financial counseling, therapy, planning, as well as psychology and consumer economics. These experts in practice, education, and research take turns chiming in on poignant topics that range from the history of the profession to client communication, and from self-care for counselors to theoretical and practical tips. This book review overviews highlights of this book.

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Researcher Profile: Doug Hershey, Douglas A. Hershey Jan 2018

Researcher Profile: Doug Hershey, Douglas A. Hershey

Journal of Financial Therapy

Doug Hershey obtained his Ph.D. in Adult Development and Aging from the University of Southern California (1990). He is currently a Professor of Experimental Psychology at Oklahoma State University, where he also serves as Director of the Retirement Planning Research Laboratory. He has published more than 70 empirical articles on the development of life planning and decision making, with a special interest in the psychological factors that motivate individuals to plan for the future and save for old age. Hershey became a lifetime Fellow of the Gerontological Society of America in 2003, and in 2007 and 2015 he spent one-year …

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Investment Behavior: Factors That Limit African Americans' Investment Behavior, Crystal Hudson, John Young, Sophia Anong, Elania Hudson, Edward Davis Jan 2018

Investment Behavior: Factors That Limit African Americans' Investment Behavior, Crystal Hudson, John Young, Sophia Anong, Elania Hudson, Edward Davis

Journal of Financial Therapy

This study investigated factors that are likely to limit African Americans’ investment activity in the stock market by triangulating data from the 2015 FINRA Financial Capacity Study and a Financial Behavior/Capacity survey that targeted African Americans. The financial survey revealed the top self-reported reasons these African Americans gave for not investing which were, “I don't understand how the stock market works”, “I don't make enough money” and “I don’t want to lose my money". Logistic regression results for the FINRA African American sample indicate that those with more financial knowledge, those who participated in financial education, and those who were …

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Researcher Profile: An Interview With D. Bruce Ross, D. Bruce Ross Jan 2018

Researcher Profile: An Interview With D. Bruce Ross, D. Bruce Ross

Journal of Financial Therapy

D. Bruce Ross, Ph.D., is an Assistant Professor in the Family Sciences Department at the University of Kentucky. He has a Master’s in Marriage and Family Therapy, and a Ph.D. in Human Development and Family Science with an Emphasis in Marriage and Family Therapy and a specialization in financial counseling and financial therapy practices. Dr. Ross’ professional and research interests primarily focus on personal and family financial well-being. At the University of Kentucky, he is currently helping to develop a new undergraduate program of Consumer Economics and Personal Finance within the Family Sciences Department. Also, Dr. Ross is the current …

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Financial Stress And Marital Quality: The Moderating Influence Of Couple Communication, Heather H. Kelley, Ashley B. Lebaron, E. Jeffrey Hill Jan 2018

Financial Stress And Marital Quality: The Moderating Influence Of Couple Communication, Heather H. Kelley, Ashley B. Lebaron, E. Jeffrey Hill

Journal of Financial Therapy

This study explores the negative relationship between financial stress and marital quality and examines couple communication as a moderator in this relationship. Using a sample of 373 married U.S. couples from the Flourishing Families Project, an Actor-Partner Interdependence Model (APIM) was run to determine the influence of husbands’ and wives’ financial stress on both their own and their partner’s reports of marital quality. Results found negative associations between both actor and partner reports of financial stress and marital quality. Couple communication did not moderate the associations between husbands’ and wives’ financial stress and wives’ marital quality. However, it did …

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Editorial: Volume 9, Issue 1, Kristy L. Archuleta Jan 2018

Editorial: Volume 9, Issue 1, Kristy L. Archuleta

Journal of Financial Therapy

This year has been an exciting year for the Journal of Financial Therapy’s sponsoring organization, Financial Therapy Association. An idea was sparked many years ago by the FTA Board of Directors that a designation or credential should be created. With the ushering in of CFT-I™, it is a critical moment for further research to be conducted that will continue to help inform the practice of financial therapy. Now, more than ever, we must connect the areas of practice, research, and theory to not only inform best practices of financial therapy, but also to legitimize the work. Meaningful research to inform …

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Financial Management And Marital Quality: A Phenomenological Inquiry, Emily D. Baisden, Jonathan J. Fox, Suzanne Bartholomae Jan 2018

Financial Management And Marital Quality: A Phenomenological Inquiry, Emily D. Baisden, Jonathan J. Fox, Suzanne Bartholomae

Journal of Financial Therapy

This study explores the link between couples’ financial management practices and their marital quality through qualitative inquiry. Six couples in their first marriage with at least one child age 18 or younger were interviewed to understand how the couples’ financial histories affect their current approach to financial management and how their financial management affects their relationships. Using Couples and Finances Theory as a conceptual framework, this phenomenological study investigates the connection between financial history, approach to financial management, and marital quality to offer implications for financial counselors and therapists. The ways couples manage their finances are diverse, as are the …

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Book Review: Legacy, Jackie Phillips Jan 2018

Book Review: Legacy, Jackie Phillips

Journal of Financial Therapy

Legacy: The Hidden Keys to Optimizing Your Family Wealth Decisions provides insightful, practical advice for leaving a legacy and making decisions. The book provides real-life examples of how individuals can discover and secure the “whys” needed for themselves when making decisions. It also provides questions and steps that financial advisors can take to get their clients to identify their values and think about how their decisions can support said values in the long-run.

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Book Review: The Financial Diaries, Barbara O'Neill Jan 2018

Book Review: The Financial Diaries, Barbara O'Neill

Journal of Financial Therapy

Researchers and practitioners will gain valuable insights into the financial insecurity experienced by many American families after reading this 233-page book by Jonathan Morduch and Rachel Schneider. Morduch is a professor at NYU and Schneider is senior vice president at the Center for Financial Services Innovation. The meticulously referenced book (46 pages are notes and a bibliography) describes a study of family finances.

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Practitioner Profile: An Interview With Christine Moriarty, Christine Moriarty Jan 2018

Practitioner Profile: An Interview With Christine Moriarty, Christine Moriarty

Journal of Financial Therapy

Christine Moriarty, MBA, CFP® is a financial speaker, author and coach. She has been quoted extensively in publications including USA Today, Good Housekeeping, the "Boston Globe" and "Fidelity Focus Magazine," as well as several books including "Living Your Joy." She is a past columnist for Vermont Woman and has been published in several periodicals and on-line publications. In addition, she writes a monthly newsletter, “My Peace on Money,” that reaches a growing list of thousands of subscribers.

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Multigenerational Modeling Of Money Management, Christina M. Rosa, Loren D. Marks, Ashley B. Lebaron, E.Jeffrey Hill Jan 2018

Multigenerational Modeling Of Money Management, Christina M. Rosa, Loren D. Marks, Ashley B. Lebaron, E.Jeffrey Hill

Journal of Financial Therapy

This study is about implicit financial socialization within families. It specifically examines how parental modeling facilitates the intergenerational transmission of healthy financial behaviors. This qualitative, multi-generational, multi-site study begins to answer the following research question: What financial behaviors are parents modeling for their children? The sample for this study (N=115) included 90 undergraduate students (ages 18-30) enrolled in family finance classes at three U.S. universities, 18 of their parents, and 7 of their grandparents. Using a team-based approach to qualitative data collection, analysis, and coding, four consensus themes related to parental financial modeling were distilled: (1) Working for …

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Practitioner Profile: Nikiya Spence, Nikiya Spence Jan 2018

Practitioner Profile: Nikiya Spence, Nikiya Spence

Journal of Financial Therapy

Nikiya Spence, LCSW is a licensed psychotherapist and Certified Money Coach with over seventeen years of clinical experience. Throughout the years, Nikiya has had an innate interest in money education and exploring the relationship that people have with money. As a therapist, it became obvious to Nikiya that although many of her clients did not specifically seek help related to their money issues, many of their problems and causes of stress were rooted in their relationship with money. In fact, their money problems often impacted their work, relationships, and families. It became apparent to Nikiya that it wasn’t the lack …

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