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Full-Text Articles in Behavioral Economics
A Qualitative Analysis Of The Use Of Financial Services And Saving Behavior Among Older African Americans And Latinos In The Los Angeles Area, Luisa Blanco, Maria Ponce, Arturo Gongora, O. Kenrik Duru
A Qualitative Analysis Of The Use Of Financial Services And Saving Behavior Among Older African Americans And Latinos In The Los Angeles Area, Luisa Blanco, Maria Ponce, Arturo Gongora, O. Kenrik Duru
Luisa Blanco
For this study, we conducted 7 focus groups in the Los Angeles area with a total of 70 participants (42 Latinos and 28 African Americans) recruited from 3 senior centers and a church. Overall, participants were not well prepared for the future in terms of their health care financing. African Americans in the study tended to participate more in the formal financial sector and show a high level of sophistication when managing their finances than Latinos. African Americans also were more likely to save than Latinos, but their level of saving was not very large. We also find that participants …