Brief Summary of Minutes of Annual Meeting

Activities

1. Monthly meetings were held via Zoom and in-Person (hybrid).

2. Oral and poster presentations were given based on research conducted by this group:
   1. 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.
   2. 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.
   3. Cho, S. H. & DeVaney, S. A. (2023). ACCI Then and now. Consumer Interests Annual, Volume 69.
   4. 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.
   5. 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.
   6. 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.

3. The following are several ongoing projects utilizing the Wells Fargo and COVID datasets that were collected as a part of NC 2172 collaboration.
   1. 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.
   2. 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.

Milestones

1. 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.

2. Subgroups are formed and working on analyzing data sets that this group collaborated in producing during the COVID-19 pandemic:
   1. 2020 RAND American Life Panel omnibus 2300 survey
   2. 2021 COVID-19 dataset
   3. 2021 Wells Fargo data

3. 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.

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. https://doi.org/10.1007/s10834-022-09883-8 [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] https://doi.org/10.1007/s11482-023-10253-1

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. https://doi.org/10.1007/s10834-024-09961-z

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. https://doi.org/10.1111/fare.13028

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. https://doi.org/10.55533/2325-5226.1374

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. https://doi.org/10.1111/famp.12886

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. https://doi.org/10.1111/fare.12786

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. https://doi.org/10.1007/s10834-023-09930-y

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. https://doi.org/10.1007/s10834-022-09824-5

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. https://doi.org/10.1080/15507394.2022.2154105

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. https://doi.org/10.1108/IJBM-10-2022-0448

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.