Brief Summary of Minutes of Annual Meeting

1. Meeting called to order by Cathy F. Bowen, Chair. 2. Welcome to Sioux Falls by hosts Soohyun Cho and Elizabeth Gorham 3. The meeting outline was reviewed and Cathy Bowen gave an overview of NC1172 including current status of data collected in December 2010 by Survey Sampling International. An update was also provided of data collection in other countries (Korea, Singapore, Malaysia, Turkey, Mexico, Columbia, and Thailand) in the Fall 2011 by team members and collaborators (Korea, Singapore, Malaysia, Turkey, Mexico, Columbia, and Thailand). 4. New advisor Dr. J. Ernest Minton asked a few questions about the groups history and responded to questions about renewing projects. 5. Susan Shockey, NIFA/USDA representative joined the group by phone and shared updated regarding the reorganized NIFA. 6. Minutes of the July 14, 2011 meeting were approved. 7. Updates were provided by teams working on various manuscripts for the Family and Consumer Sciences Research Journal. 8. Another discussion focused on possible presentations for the following meetings: Eastern Family Economics Resource Management Association, Feb. 29-March 2, 2012, American Council on Consumer Interests, April 11-13, 2012. 9. Officers were elected for the new cycle starting August 2012 at the annual meeting: Michael Gutter, Chair; Soo Hyun Cho, Vice Chair. 10. Sharon Devaney lead a discussion on differentiating the dependent variables in each paper and small group work concluded the meeting before adjournment.

Data were collected from a random sample using a web based survey in December 2010. Households surveyed had incomes up to $80,000 and the age range of interest was age 24-64, resulting in a sample of 826. Short-term Outcomes: Not applicable Outputs: The following manuscripts are in the review process for the Family and Consumer Sciences Research Journal. " Psychometric Properties of Scales in the NC1172 Complex Nature of Saving Data Set. C. Hayhoe and M. E. Gutter " Gender Differences in Retirement. P. Fisher, C. Hayhoe, J. Lown " The Role of Money Attitudes on Savings Behavior. C. Hayhoe, S. Cho, S. Worthy, J. Kim, and L. Gorham. The following manuscripts are in progress and should be submitted to the Family and Consumer Sciences Research Journal. " The Role of Self-Efficacy in Savings Behavior. J. Lown, J. Kim, and M. Gutter " Financial Risk Tolerance and Savings Behavior. D. Evans, J. Lown, S. Cho, and M. Gutter " Structural Equation Model and Use of Savings Instruments. NC-1172 Team Members " Effect of Socialization of Financial Management Behavior. S. Cho, M. Gutter, J. Kim, and T. Mauldin. " Home Ownership as a Savings Tool in Low to Moderate Income Households. C. Solheim, M. Gutter, Liz Gorham, and C. Bowen Manuscripts in Progress for Other Journals (not FCSRJ) The Role of Human Capital, Financial Knowledge, and Social Capital Among Low- to Moderate-Income Households. V. Bhargava and T. Mauldin. A Conceptual Model of Facilitators and Barriers to Savings Among Low- to Moderate-Income Households. T. Mauldin, M. Cheang, C. Bowen. Proposals Submitted for Presentations at Professional Meetings " Poster, Health and Financial Well-Being of a National Sample of Low to Moderate Income Consumers by S. Worthy, S. Cho, and S. DeVaney will be submitted to the American Council on Consumer Interests. " Poster, Barriers to Savings among Low to Moderate-Income Households: Differences among Those Who Think They Can Save and Those Who Think They Cannot Save. T. Mauldin, M. Cheang, and C. Bowen " Human Capital, Financial Knowledge, and Social Capital: Differences among Savers and Non-savers in Low to Moderate Income Households. T. Mauldin & V. Bhargava Activities: Not applicable Milestones: Not applicable

As noted in the accomplishments section, the following manuscripts are in the review process for the Family and Consumer Sciences Research Journal. Psychometric Properties of Scales in the NC1172 Complex Nature of Saving Data Set. C. Hayhoe and M. E. Gutter Gender Differences in Retirement. P. Fisher, C. Hayhoe, J. Lown The Role of Money Attitudes on Savings Behavior. C. Hayhoe, S. Cho, S. Worthy, J. Kim, and L. Gorham. The following manuscripts are in progress and should be submitted to the Family and Consumer Sciences Research Journal. The Role of Self-Efficacy in Savings Behavior. J. Lown, J. Kim, and M. Gutter Financial Risk Tolerance and Savings Behavior. D. Evans, J. Lown, S. Cho, and M. Gutter Structural Equation Model and Use of Savings Instruments. NC-1172 Team Members Effect of Socialization of Financial Management Behavior. S. Cho, M. Gutter, J. Kim, and T. Mauldin. Home Ownership as a Savings Tool in Low to Moderate Income Households. C. Solheim, M. Gutter, Liz Gorham, and C. Bowen Manuscripts in Progress for Other Journals (not FCSRJ) The Role of Human Capital, Financial Knowledge, and Social Capital Among Low- to Moderate-Income Households. V. Bhargava and T. Mauldin. A Conceptual Model of Facilitators and Barriers to Savings Among Low- to Moderate-Income Households. T. Mauldin, M. Cheang, C. Bowen.