NC2172: Household financial and health decision-making under economic uncertainties

(Multistate Research Project)

Status: Active

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SAES-422 Reports

Annual/Termination Reports:

[06/24/2024] [05/28/2025]

Date of Annual Report: 06/24/2024

Report Information

Annual Meeting Dates: 04/18/2024 - 04/19/2024
Period the Report Covers: 08/01/2023 - 06/15/2024

Participants

Bidisha Mandal – Washington State University; Brandan Wheeler, Secretary – Mississippi State University; Congrong Ouyang – Kansas State University; Elizabeth Kiss – Kansas State University; Jiyun Kang – Purdue University; Lorna Wounded Head - South Dakota State University Extension; Nilton Porto – University of Rhode Island; Rui Yao – University of Missouri; Sharon DeVaney – Purdue University, Emeritus; Sheri Worthy– University of Georgia; Soo Hyun Cho, Chair – California State University, Long Beach; Swarn Chatterjee—University of Georgia; Tim Griesdorn – University of the Incarnate Word; Wookjae Heo, Vice Chair – Purdue University; Yi Liu - St. John Fisher University; Yilan Xu - University of Illinois; Yu Zhang – Kansas State University;

Brief Summary of Minutes

Accomplishments

Activities <ol> <li>Monthly meetings were held via Zoom and in-Person (hybrid).</li> </ol> <ol start="2"> <li>Oral and poster presentations were given based on research conducted by this group: <ol> <li>Diaz, J. & Cho, S. H. (2024). Elaborating on the relationship between financial self-efficacy and life satisfaction; The mediating role of financial stability. Oral presentation at the Annual Conference of the American Council on Consumer Interests, May 21-23, Milwaukee, WI.</li> <li>DeVaney, S. A. & Porto, N. (2024). Journals in Consumer and Family Sciences. Consumer Interests Annual, Volume 70. Handout at 2024 conference and in Consumer Interests Annual.</li> <li>Cho, S. H. & DeVaney, S. A. (2023). ACCI Then and now. Consumer Interests Annual, Volume 69.</li> <li>Griesdorn, T. S., DeVaney, S. A., Cho, S. H., & Chung, S. R. (2023). Optimism, financial trust, resilience, and life satisfaction during COVID-19 pandemic. Consumer Interests Annual, Volume 69.</li> <li>Kim, J., Chatterjee, S., DeVaney, S. A., Griesdorn, T. S., White, K. J., Russell, M., Saboe-Wounded-Head, L., & Chung, S. R. (2023). Impact of the COVID-19 pandemic on low-to-moderate income households and people of color. ACCI Annual Conference. Clearwater Beach, FL. Poster.</li> <li>Saboe-Wounded Head, L. & DeVaney, S. A. (2023). How American Indians and Alaskan Natives managed financially during COVID-19. ACCI Annual Conference. Clearwater Beach, FL Poster.</li> </ol> </li> </ol> <ol start="3"> <li>The following are several ongoing projects utilizing the Wells Fargo and COVID datasets that were collected as a part of NC 2172 collaboration. <ol> <li>Qi, J., Zhang, Y., & Worthy, S. L. (revise & resubmit). Social Determinants of Health and desirable financial behaviors: The mediation effect of financial knowledge. Financial Services Review.</li> <li>Qi, J., Zhang, Y., & Worthy, S. L. (in progress). From financial self-efficacy to financial behaviors: The role of financial advice seeking and stress. Journal of Financial Services Research.</li> </ol> </li> </ol> Milestones <ol> <li>Discussion started on household health decision making. Several secondary datasets were identified, and subgroups were formed to focus on health issues such as food insecurity, healthcare access, and holistic health.</li> </ol> <ol start="2"> <li>Subgroups are formed and working on analyzing data sets that this group collaborated in producing during the COVID-19 pandemic: <ol> <li>2020 RAND American Life Panel omnibus 2300 survey</li> <li>2021 COVID-19 dataset</li> <li>2021 Wells Fargo data</li> </ol> </li> </ol> <ol start="3"> <li>North Central Regional Center for Rural Development (NCRCRD) collected a dataset included APR Financial Stress scale in their survey, which were developed by two members of the NC 2172 group.</li> </ol>

Publications

Journal Articles Chawla, I., Russell, M. B., White, K. J., and DeVaney, S. A. (2023), 31(2 & 3). Fear and Trust in Financial Institutions: A Thematic Analysis. Financial Services Review. DeVaney, S. A. & Lee, J. M. (2023). A Review of Housing Articles in FCSRJ: 2008-2022. Family and Consumer Sciences Research Journal, 50(3).  Heo, W., Moon, K., & Ahn, S. Y. (2024). Unmasking the phantoms of generations: A comparative study of financial responsibility and stress across generational divides. Journal of Financial Therapy, 15(1), 2. doi:10.4148/1944-9771.1382 Heo, W., Yao, R., & Cho, S. H. (2024). Perceived mental health and physical health during the pandemic: The role of financial stress. Journal of Financial Counseling and Planning, Advanced online. doi:10.1891/JFCP-2022-0108 Yi, L., Heo, W., & Pearson, B. (2024). How do personality traits relate to financial satisfaction during the COVID-19 pandemic? Journal of Financial Counseling and Planning (in the publishing process) Heo, W., Kim, E., Kwak E. J., & Grable, J. E. (2024). Identifying hidden factors associated with household emergency fund holding: A machine learning application. Mathematics, 12(2), 182. doi: 10.3390/math12020182 Moon, K., Heo, W., Lee, J. M., & Grable, J. E. (2023). Financial stress and COVID-19: A comprehensive analysis of the factors associated with the pandemic. Risks, 11, 218. doi: 10.3390/risks11120218 Lee, J. M., Rabbani, A., & Heo, W. (2023). Examining financial anxiety focusing on interactions between financial knowledge and financial self-efficacy. Journal of Financial Therapy, 14(1), 2. doi: 10.4148/1944-9771.1279 Kim, K. T., Cho, S. H., and Xiao, J. J. (2023). Is ignorance bliss? Use of alternative financial services, financial literacy, and financial anxiety. Journal of Family and Economic Issues, 44, 956-967. <a href="https://doi.org/10.1007/s10834-022-09883-8">https://doi.org/10.1007/s10834-022-09883-8</a> [SSCI] Gallardo, J.E., MacDonald, M., Lim, H.N., and Kiss, D.E. (2024). An examination of student loan debt, financial threats, and financial anxiety. Journal of Personal Finance, 23(1), p.47 Preece, G. L., & D. E. Kiss (2023). Development of a responsible financial behaviors index. Journal of Financial Counseling and Planning, 34(2). Doi: 10.1891/JFCP-2022-0046 Kim, K. T., Xiao, J. J., & Porto, N. (2024). Financial inclusion, financial capability and financial fragility during COVID-19 pandemic. International Journal of Bank Marketing, 42(3), 414-436. Porto, N. & Xiao, J. J. (2024) “Life Skills: Teaching Personal Finance to College Students during a Pandemic.” Invited book chapter for Effective Methods for Teaching Business Related Topics During and Post Crisis. Vol.2. Edited by Dr. James Blair and Dr. Marcel Robles. National Business Education Association. Reston, VA Mandal, B., Porto, N., Kiss, D. E., Cho, S. H., & Head, L. S. W. (2023). Health insurance coverage during the COVID‐19 pandemic: The role of Medicaid expansion. Journal of Consumer Affairs, 57(1), 296-319. Leedahl, S. N., Pascuzzi, E., McCurdy, K., & Porto, N. (2023). Beyond Employment: Lower Income Participants' Experiences in a Healthcare Training Program for Medical Assistants, Pharmacy Technicians, and Certified Nursing Assistants. Internet Journal of Allied Health Sciences and Practice, 21(3), 24. Xiao, J., Kim, K. T., & Lee, S. (2024). Consumer Financial Capability and Financial Well-being: Multi-year analyses, Applied Research in Quality of Life 19(1), 547-580 [SSCI] <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1007%2Fs11482-023-10253-1&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7Ce4374da154274dd5b95408dc8c7008c1%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638539660023600694%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=Xe2EzwU6vyViQFepjQ5jAl8TSxhIaY7Z120Rno%2Ba5BI%3D&reserved=0">https://doi.org/10.1007/s11482-023-10253-1</a> Wheeler, B. E., & Brooks, C. (2024). Financial safety nets or rescue fantasies? A moderating view of the relationship between usage of alternative financial services and financial anxiety among college students. Journal of Family and Economic Issues. Advanced Online Publication. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1007%2Fs10834-024-09961-z&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148541090%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=yrxkypMl1uEcpQuPyzCPq3ZPbNMWW0xAQgApT%2FvCiDw%3D&reserved=0">https://doi.org/10.1007/s10834-024-09961-z</a> Yorgason, J. B., Segel-Karpas, D., Ermer, A., Weller, H., Owens, S., & Wheeler, B. E. (2024). What are we worried about? Mid-life couples’ financial concerns about their retirement. Family Relations. Advanced Online Publication. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1111%2Ffare.13028&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148557160%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=J2l%2B7bkwgYSPMnx8%2B9s6DHjMaCkMU6k2FFpXfJsJZbI%3D&reserved=0">https://doi.org/10.1111/fare.13028</a> Wheeler, B. E., Wilmoth, J. D., Phillips, T. M., & Brooks, C. (2024). What factors within the context of a romantic relationship and the couples’ finances are related to the level of religiosity among contemporary emerging adults? Journal of Human Sciences and Extension, 12(1), 1. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.55533%2F2325-5226.1374&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148564318%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=5pZ4%2BLG%2BWeuOG2Qs7mEIbgAvQ8x222utxtxwIWttWLs%3D&reserved=0">https://doi.org/10.55533/2325-5226.1374</a> Li, X., Wheeler, B. E., James, S., LeBaron-Black, A. B., Holmes, E. K., & Yorgason, J. B., & (2024). For richer, for poorer: Financial behaviors, marital power, and relational aggression among newlyweds. Family Process, 63(1), 176-191. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1111%2Ffamp.12886&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148571083%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=cjeECXjR%2Bm1n1Ja%2BalmnRtOwyf363TclKQ4M%2BX3fE1Q%3D&reserved=0">https://doi.org/10.1111/famp.12886</a> LeBaron, A. B., Saxey, M. T., Totenhagen, C. J., Wheeler, B. E., Archuleta, K. L., Yorgason, J. B., & James, S. (2023). Financial communication as a mediator between financial values and marital outcomes. Family Relations, 72(4), 1974-1992. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1111%2Ffare.12786&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148576253%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=FROvivuNqtPNCSYByOuh8WPAuk2T6j9vxML35fFmrJU%3D&reserved=0">https://doi.org/10.1111/fare.12786</a> Wheeler, B. E., & Brooks, C. (2023). Financial socialization, financial identity, and financial well-being among university students taking a consumer economics course. Journal of Family and Economic Issues. Advanced Online Publication. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1007%2Fs10834-023-09930-y&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148581853%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=qN2bu9CQw1XT22S1qJM6eDO6BmdueqMlQ3v0YXEWqcs%3D&reserved=0">https://doi.org/10.1007/s10834-023-09930-y</a> Phillips, T. M., Smith, J. R., Long, A. C., Wheeler, B. E., Marks, L. D., Goodman, M., Hatch, T., & Wall, S. K. (2023). Family Home Evening as a model for promoting family health. International Journal of Latest Research in Humanities and Social Sciences, 6(11), 98-103. Wheeler, B. E., & Brooks, C. (2023). Financial concerns, relationship happiness, and financial management behaviors: A moderating relationship among married and cohabiting participants. Journal of Family and Economic Issues, 44(2), 325-341. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1007%2Fs10834-022-09824-5&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148586861%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=bYZSz%2BxB%2BSENKjEEr2l0w9XKsdGYWFOdN9u4iivat1E%3D&reserved=0">https://doi.org/10.1007/s10834-022-09824-5</a> Phillips, T. M., Wilmoth, J. D., Wheeler, B. E., Long, A. C., Pylate, L., & Brink, J. (2023). Religiosity and well-being in emerging adults. Religion and Education, 50(1), 70-81. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1080%2F15507394.2022.2154105&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C3b12ad8681ec44e3813308dc896c76f5%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638536346148591792%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=pYJQNnUXL6clnqUx6%2F5IyA7XgTLdI6WMz1k%2F10IFsEA%3D&reserved=0">https://doi.org/10.1080/15507394.2022.2154105</a> Worthy, S. & Lee, H. (in press). Healthy lifestyle and well-being through the lens of family and consumer sciences, Journal of Family and Consumer Sciences. Qi, J., Chatterjee, S., Worthy, S. L., Herndon, K., & Wojdynski, B. (2024). Using an extended post-acceptance framework to examine consumer adoption of fintech. International Journal of Bank Marketing. <a href="https://doi.org/10.1108/IJBM-10-2022-0448">https://doi.org/10.1108/IJBM-10-2022-0448</a> Zhang, Y. (2024). ESG perceptions: Investigating investor motivations and characteristics. Financial Services Review, 32(2). Zhang, Y., & Fan, L. (2023). An examination of mobile fintech utilization from a stress-coping perspective. Journal of Financial Counseling and Planning, 34, 354–366. DOI: 10.1891/JFCP-2022-0061 Zhang, Y., & Chatterjee, S. (2023). Financial literacy, financial stress, and financial well-being in the United States. Sustainability, 15(5), 4505. DOI: 10.3390/su15054505 Ma, Q., Ying, Y. & Yao, R. (2024). The impact of Chinese public expenditures on household investment in risky financial assets: Evidence from a national survey. Journal of Consumer Affairs, forthcoming Yao, R., Xu, Y. & Zhang, J. (2023). Household financial resilience from a health perspective. Journal of Consumer Affairs, 57(3), 1258-1280. DOI:10.1111/joca.12525. Yao, R. & Zhang, J. (2023). Employment status and financial resilience during the COVID-19 pandemic. International Journal of Bank Marketing, DOI: 10.1108/IJBM-08-2022-0371. Yao, R. & J. J. Xiao. (2023). Financial capability and informal bankruptcy: Comparing student loan holders and non-holders. International Journal of Bank Marketing, 41(1), 34-51. DOI:10.1108/IJBM-05-2022-0207.   Awards and Recognition Lorna Saboe-Wounded Head received the American Council on Consumer Interests (ACCI) Stewart M. Lee Consumer Education Award KT Kim received the American Council on Consumer Interests (ACCI) Mid-Career Award Sharon DeVaney and Jae Min Lee received the FCSRJ Best Paper Award in Housing and Interior Design for 2023. Awarded at the 2024 AAFCS Annual Conference, Minneapolis, Minnesota. Sharon DeVaney and Jae Min Lee’s article was recognized as 2024 Wiley Top Downloaded Article, One of the most downloaded papers during its first 12 months of publication (January 1 2022-December 31 2022). Review of Best Papers in Personal Finance: 2008-2020. Isha Chawla, Mia Russell, Ken White, and Sharon DeVaney received 2023 Academy of Financial Services Conference Best Paper Award for their paper titled, Fear of financial loss due to history, misunderstanding of banking, and trust issues: A thematic analysis. Tim Griesdorn and Sharon DeVaney received 2023 Best Paper Award in its section in the Fall Conference, Academy of Business Research Fall Conference The health and wealth connection to financial wellbeing during COVID-19.

Impact Statements

NC2172 has spent the past year analyzing datasets that were collected as a result of this multi-state research group during the COVID-19.
This research team is in a unique position to help answer some household health and economic questions related to the pandemic.
Members collaborated in producing dozens of research outputs, including conference presentations and peer-reviewed publications.
Several sub-groups started discussions regarding household health decision making, such as healthcare access and food insecurity.

Date of Annual Report: 05/28/2025

Report Information

Annual Meeting Dates: 03/26/2025 - 03/28/2025
Period the Report Covers: 06/16/2024 - 04/30/2025

Participants

Swarn Chatterjee – University of Georgia
Soo Hyun Cho– California State University, Long Beach
Will Davis – Mississippi State University
Sharon DeVaney – Purdue University, Emeritus
Jared Gars – University of Florida
Tim Griesdorn – University of the Incarnate Word
Michael Gutter – Virginia Tech
Wookjae Heo – Purdue University
Jiyun Kang - Purdue University
Kyoung (KT) Kim – University of Alabama
Elizabeth Kiss – Kansas State University
Ally Lee – Purdue University
Jae Min Lee – Minnesota State University-Mankato
Yi Liu – St. John Fisher
Bidisha Mandal – Washington State University
Travis Mountain – University of Georgia
Congrong Ouyang – Kansas State University
Nilton Porto – University of Rhode Island
Lorna Saboe-Wounded Head - South Dakota State University
Mark Schafer – LSU
Tapiwa Sigauke – University of Illinois
Becky Smith – Mississippi State University
Brandan Wheeler – Alabama A&M University
Sheri Worthy – Mississippi State University
Yilan Xu - University of Illinois
Rui Yao – University of Missouri
Yu (Yulia) Zhang – Kansas State University

Brief Summary of Minutes

Accomplishments

Activities   <ol> <li>Monthly meetings were held via Zoom and Annual meeting was held in-Person (hybrid).</li> </ol>   <ol start="2"> <li>Oral and poster presentations were given based on research conducted by this group: <ol> <li>Cruz, L. A., Peñaloza, V., Porto, N., & An, T. (2025) The role of personal and cultural values on saving behavior: a cross-national analysis. Oral presentation at the 2025 American Council on Consumer Interests (ACCI). Pittsburgh, PA.</li> <li>Lee, S., Lim, H., & Cho, S. H. (2025). Overconfidence and Financial Fraud Susceptibility. Poster presentation at the Annual Conference of the American Council on Consumer Interests, April 15-17, Pittsburgh, PA.</li> <li>Lee, J. M., Kim, K. T., & Cho, S. H. (2025). Perceived Experiences in the Financial Market. Oral presentation at the Annual Conference of the American Council on Consumer Interests, April 15-17, Pittsburgh, PA.</li> <li>Choi, S., Hwang, H., Lee, Y. L., Li, X., Cho, S. H., Chang, H., Pak, T.-Y., & Kim, J. (2025). Multidimensional Deprivation and Aging: A Cross-National Study of Older Populations in South Korea and the United States. Symposium presentation at the Annual Conference of the American Council on Consumer Interests, April 15-17, Pittsburgh, PA.</li> <li>Park, H.J., Heo, W., & Liu, Y. (2025). The influence of information resources and psychological factors on financial bandwagon behavior. Poster presentation at the Annual Conference of the American Council on Consumer Interests, April 15-17, Pittsburgh, PA.</li> <li>Cho, S. H., & Saboe-Wounded Head, L. (2024). Financia Knowledge and Food Insecurity during COVID-19. Oral presentation at the annual symposium of Association for Financial Counseling, Planning, and Education. November 20-22, Columbus, OH</li> <li>DeVaney, S. A. & Porto, N. (2024). Journals in Consumer and Family Sciences. Consumer Interests Annual, Volume 70.</li> <li>Griesdorn, T. S., DeVaney, S. A., (2024. September 19). A New Approach to Teaching Personal Financial Education. Academy of Financial Services Conference, Columbus, OH.</li> <li>Mandal, B. “Telehealth utilization and health care expenditures among food insecure individuals”. Poster presentation, April 15, 2025. WSU Health Sciences Research Symposium, Spokane, Washington.</li> <li>Xiao, J. J. & Yao, R. (2024). Does COVID-19 destroy financial life? Factors associated with consumer informal bankruptcy during the pandemic. AFCPE Symposium, Columbus, OH, November.</li> </ol> </li> </ol>   <ol start="3"> <li>The following are several ongoing projects utilizing the Wells Fargo and COVID datasets that were collected as a part of NC 2172 collaboration. <ol> <li>Diaz, J. & Cho, S. H. Elaborating on the relationship between financial self-efficacy and life satisfaction: The mediating role of financial stability. Revise and Resubmit</li> <li>Financial Literacy and food Insecurity. Led by Wounded-Head, L. & Cho, S. H.</li> <li>Stages of Financial Planner using Transtheoretical Model of Change. Led by Chatterjee, S. & Porto, N.</li> </ol> </li> </ol>   <ol start="4"> <li>The following dataset is being collected by members. <ol> <li>Households’ Health and Financial Strain. Lead by Kiss, D. E., Zhang, Y., & Ouyang, C. </li> </ol> </li> </ol>   <ol start="5"> <li>Professional Development: At this year’s annual meeting, Jinhee Kim, Assistant Director of University of Maryland Extension and Sheri Worthy, Director of Mississippi State School of Human Sciences shared their own professional journey and inspiring advice to becoming successful academic administrators.</li> </ol>   Milestones   <ol> <li>Discussion started on household health decision making. Several secondary datasets were identified, and subgroups were formed to focus on health issues such as food insecurity, healthcare access, and holistic health.</li> </ol>   <ol start="2"> <li>Subgroups are formed and working on analyzing data sets that this group collaborated in producing during the COVID-19 pandemic:</li> </ol>   <ol> <li>2020 RAND American Life Panel omnibus 2300 survey</li> <li>2021 COVID-19 data</li> <li>2021 Wells Fargo data</li> </ol>   <ol start="3"> <li>North Central Regional Center for Rural Development (NCRCRD) collected a dataset included APR Financial Stress scale in their survey, which were developed by two members of the NC 2172 group.</li> </ol>   <ol start="4"> <li>A preliminary manuscript outline was developed based on subgroup findings and is currently being prepared for peer-reviewed journal submission.</li> </ol>

Publications

Publications Journal Articles   An, T., Xiao, J.J., Porto, N. & Cruz, L. (2025) Mobile payment, financial behavior and financial anxiety: a multi-group structural equation modeling study. International Journal of Bank Marketing, Vol. 43 No. 3, pp. 549-568.   Cruz, L. A., Peñaloza, V., Porto, N., & An, T. (2025) The role of personal and cultural values on saving behavior: a cross-national analysis. International Journal of Sociology and Social Policy.   Porto, N. & Carroll, K. (2025) Financial Education of Emerging Adults. Invited book chapter for Flourishing and Floundering Financially in Emerging Adulthood: A Handbook. Ed. by A. LeBaron-Black, H. Kelley, & A. Sorgente. Oxford Academic.   Porto, N.& Xiao, J. J. (2025) Life Skills: Teaching Personal Finance to College Students during a Pandemic. Invited book chapter for NBEA Effective Methods for Teaching Business Related Topics During and Post Crisis.   Heo, W., Liu, Y., & Park, H. (2025). Financial stress, psychological factors, and financial knowledge on life satisfaction: A comparative pre- and post-COVID cross-sectional analysis in the United States. Applied Research in Quality of Life, (In press) https://doi.org/10.1007/s11482-025-10431-3   DeVaney, S. A. & Lee, J. M. (2024). A Review of Professional Issue Papers in FCSRJ: 2009-2022. Family and Consumer Sciences Research Journal, 51(1), http://doi.org/10:111/fcsr.12522   Sanjeevi, N., Hebert, L., Mandal, B., Monsivais, P. “Loss of pregnancy-related Medicaid coverage is associated with unmet need for health care, medical financial hardship and lower health care use in postpartum women”. Public Health Challenges, March 2025, 4(1): e70044. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1002%2Fpuh2.70044&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C43b2b8abbca3476fa57008dd8f2aa5fd%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638824135863033594%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=%2BaDH7xJqPpi7xqS%2B6ZhGOh0E%2BJQ19ZhkSntu2dNPFqQ%3D&reserved=0">https://doi.org/10.1002/puh2.70044</a>   Mandal, B. “Medicaid expansion and participation in the Supplemental Nutrition Assistance Program: The role of Integrated Eligibility Systems”. Applied Economic Perspectives and Policy, March 2025, 47(1): 154-175. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1002%2Faepp.13466&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C43b2b8abbca3476fa57008dd8f2aa5fd%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638824135863058467%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=BChnzeCRh4mCGqDDg7ohXUlNQUtaCBgU5Nd%2BifCFizw%3D&reserved=0">https://doi.org/10.1002/aepp.13466</a>   Qi, J., Zhang, Y., & Worthy, S. (2024). Social determinants of health and desirable financial behaviors: The mediation effect of financial knowledge. Financial Services Review, 32(4), 51-77.   Qi, J., Zhang, Y., Worthy, S., & Kim, J. (in press). From financial self-efficacy to financial behaviors: The role of financial advice seeking and stress. Journal of International Bank Marketing.   Heo, W., Moon, K., & Ahn, S. Y. (2024). Unmasking the phantoms of generations: A comparative study of financial responsibility and stress across generational divides. Journal of Financial Therapy, 15(1), 2. doi:10.4148/1944-9771.1382   Yi, L., Wollan, P., & Heo, W. (2024). Evaluating the impact of COVID-19 on financial conditions and well-being: Exploring the moderating influence of personality traits on life satisfaction, Applied Economics Letters, 1-4, <a href="https://doi.org/10.1080/13504851.2024.2404160">https://doi.org/10.1080/13504851.2024.2404160</a>     Heo, W., Liu, Y., & Lee, J. M. (2024). Improving communication with financial consumers: Insights from a study of Phone Call Phobia. Financial Services Review, 32(4), 78-102.   Heo, W., Yao, R. & Cho, S. H. (2024). Perceived mental and physical health during the Pandemic: The role of financial stress. Journal of Financial Counseling and Planning, 35(2), 215-233.   Yao, R. & Zhang, J. (2024). Pandemic-induced job loss and mental health: Evidence from a moderated mediation model. Review of Development Economics, 1–21. <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1111%2Frode.13162&data=05%7C02%7CSooHyun.Cho%40csulb.edu%7C5b6071ad47f547fb0f5808dd8e94ce8a%7Cd175679bacd34644be82af041982977a%7C0%7C0%7C638823492277839190%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=Dz9jkvCnRDXp%2BgpDCrmmJRMh9zsmcOjeEaTMBmXRmcc%3D&reserved=0">https://doi.org/10.1111/rode.13162</a>   Awards   Jinhee Kim received the American Council on Consumer Interests (ACCI) Distinguished Fellow Award   Nilton Porto recognized as Top Reviewer by the Financial Planning Review   2024 Wiley Top Downloaded Article, DeVaney, S. A. & Lee, J. M. “A Review of Best Papers in Personal Finance: 2008-2020.” One of the most downloaded papers during its first 12 months of publication (January 1 2022-December 31 2022).    FCSRJ Best Paper Award in Housing and Interior Design. 2024 American Association of Family and Consumer Sciences (AAFCS) Annual Conference, Minneapolis, Minnesota. DeVaney, S. A. and Lee, J. M. A review of housing articles in FCSRJ: 2008-2022.

Impact Statements

NC2172 has spent the past year actively analyzing multiple datasets collected by this multi-state research group during and in the aftermath of the COVID-19 pandemic.
As the pandemic has receded, this research team is uniquely positioned to address ongoing and emerging household health and economic issues.
Members have collaborated extensively, producing numerous research outputs, including conference presentations, peer-reviewed journal articles, and policy briefs.
Several sub-groups have initiated focused discussions and analyses on specific aspects of household health decision-making, including healthcare access, food insecurity, and holistic well-being, as communities transition beyond the pandemic.