ERIC Number: EJ1199115
Record Type: Journal
Publication Date: 2018
Pages: 10
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
EISSN: N/A
Seeking Financial Advice and Other Desirable Financial Behaviors
Moreland, Keith A.
Journal of Financial Counseling and Planning, v29 n2 p198-206 2018
Advice from financial counselors is one potential source for improving financial behaviors and well-being among clients and within their communities. This study examined whether obtaining financial advice is associated with other personal financial behaviors. Analysis of National Financial Capability Study data showed that obtaining advice is positively associated with financial behaviors while controlling for other relevant variables, including two measures of financial knowledge. The results also indicated greater benefits from obtaining advice for those with less financial knowledge. The findings suggest that efforts by financial counselors to provide financial advice to clients and others through service activities can improve financial decision-making in their communities including by those who can benefit the most.
Descriptors: Money Management, Decision Making, Help Seeking, Financial Services, Counseling Services, Counselors, Knowledge Level, Well Being
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: http://afcpe.org
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A