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Just So You Know

Apr 04, 2022

Dr. Lance Palmer has been named the Josiah Meigs Distinguished Teach Professor. The highest honor for teaching at the University of Georgia.

Dr. Lu Fan has been selected as the recipient of  the 2022 ACCI Richard B. Morse Early-Career Award. She will be recognized at the 2022 ACCI Annual Conference in Clearwater Beach, FL (May 19-21, 2022). 

Doctoral student Heejae Lee and Dr. Sheri Worthy have received the 2021 Family and Consumer Sciences Best Paper Award in the Food and Nutrition category for their paper “Adoption of fad diets through the lens of diffusion of innovations”. 

Doctoral student Zongze Li will receive the 2022 ACCI Consumer Movement Archives Applied Consumer Economics Award for the best Student Paper for his article entitled “Materialism and use of credit cards: The mediation effects of the Theory of Planned Behavior constructs”. His co-authors on this paper are Drs. Diann Moorman and Swarn Chatterjee. 

Drs. Joan Koonce, Lance Palmer, and the Virtual Vita team were highlighted in two National Extension Association of Family and Consumer Sciences Impact Statements. 

Two FHCE students Linda Olvera and Caleb Ray have been selected to be inducted into the UGA Blue Key National Honor Society. 


Dr. Karen Tinsley was inducted into the Honor Hall of Recognition at the 43rd Annual Alumni Awards event on March 26 at the Classic Center.  

Eliza Paris Harrison received the Pacesetter Award at the 43rd FACS Annual Alumni Awards. This award is given to a graduate of the last 10 years who actively promotes the beliefs and values of family and consumer sciences. Eliza graduated in 2014 with a degree in Consumer Journalism. She was a successful member of the investment banking team at UBS Financial Services in New York with a strong record of volunteerism and mentorship. Prior to her death in June 2021 following a 3 1/2 year battle with cancer, she appeared on CNN, the Today Show and in People Magazine advocating for immuno-compromised people.


Warmath, D., Bell, D. R., & Winterstein, A. P. (2022). The Role of Athlete Competitiveness in High School Sport Specialization in the United States. Orthopaedic Journal of Sports Medicine, 10(3), 23259671221079670. https://doi.org/10.1177/23259671221079670

This study examined the role of athlete competitiveness (enjoyment of competition and competitive contentiousness) as a characteristic associated with propensity to specialize in the United States. We hypothesized that, at the high school level, athletes would be more likely to engage in sport specialization owing to enjoyment of competition versus competitive contentiousness. Study findings indicated that, while athlete competitiveness is associated with sport specialization, the nature of that competitiveness determined the association. Being an argumentative contrarian may predispose athletes to lower levels of sport specialization, whereas enjoying competition may encourage higher levels of specialization.

White, K. J., Ouyang, C., Machiz, I., McCoy, M., & Qi, J. (2022). An Application of Financial Resilience to Retirement Planning by Racial/Ethnic Status. The Journal of Retirement. DOI: https://doi.org/10.3905/jor.2022.1.111

A great majority of Americans are underfunded and/or financially stressed about their retirement future. Black and Hispanic individuals have a greater risk for inadequate retirement savings and experience higher levels of financial stress in their retirement age. This study investigates which factors increase financial resilience among Black and Hispanic individuals in terms of their retirement preparedness. Results from the 2018 wave of the National Longitudinal Survey of Youth 1979 indicate that all four components of the financial resilience framework (economic resources, access to retirement resources, retirement knowledge, and social capital) are predictors of individuals’ subjective retirement preparedness. Results and implications are examined separately for Black, Hispanic and non-Black, non-Hispanic individuals to help financial professionals decrease the retirement planning racial and ethnic gap.

Mar 29, 2022


Doctoral Candidate Aditi Routh has been hired by the Federal Reserve Bank of Kansas City. She will be joining the Kansas City Fed as an Economist. 

Doctoral Candidate Jaeyong Yoo has accepted a position as an Assistant Professor of Housing at Virginia Tech. 

Dr. Kenneth White has been promoted with tenure to the position of Associate Professor. 

Dr. Lu Fan has been invited join the editorial board of the Journal of Financial Counseling and Planning

Dr. Lu Fan has been selected to receive the FCSRJ Emerging Scholar award, and her paper co-authored with alumna Dr. Lini Zhang entitled “The influence of financial education sources on emergency savings: The role of financial literacy” has been selected to receive the FCSRJ Best Paper Award. Dr. Fan will be recognized for both these awards at the 113th AAFCS Annual Conference (June 25-27th, 2022) in Orlando Florida. 

Dr. Yilang Peng for receiving a $500,000 grant from the National Science Foundation (NSF) for his study entitled Collaborative: SaTC: Core: Small: Understanding how visual features of misinformation influence credibility perceptions” received in collaboration with faculty from UC Davis. 

Dr. Yilang Peng also won two best paper awards for his research: 

Best Paper Award in the 2021 International Communication Association Conference, Washington DC. 

Top Faculty Paper Award in the 2021 National Communication Association Conference, Washington DC.  

Prof. Sherle Brown has received this year’s FACS Super Includer Award

Recent Research 

Archuleta, K. L. (2022). Financial and Relationship Satisfaction. De Gruyter Handbook of Personal Finance, 509. https://doi.org/10.1515/9783110727692-029 

Couple relationships are complex and uniquely intertwined with personal finances. According to theory and empirical research, the intersectionality of multiple factors impacts the relationship and financial satisfaction of intimate partner couples. This chapter conceptualizes financial and relationship satisfaction and illustrates the connection between the two. This chapter also introduces the growing field of financial therapy and how financial therapy modalities can help practitioners improve relationship and financial satisfaction for their couple clients. 

 Fan, L. (2022). The Use of Financial Advice: Consumers’ Financial Advice-Seeking. De Gruyter Handbook of Personal Finance, 551. https://doi.org/10.1515/9783110727692-031 

This chapter provides an overview of the research on consumers’ financial advice-seeking decisions and behavior. The overview includes a comprehensive review of studies from a historic perspective, theoretical foundations, research and policy issues, and practitioner tools and techniques. This chapter also discusses potential limitations in the literature and understanding of consumers’ financial advice- seeking behavior. The chapter concludes with future directions for research on the consumers’ demand and usage of financial advice

Grable, J. E. (2022). Accounting for Time When Saving and Investing. De Gruyter Handbook of Personal Finance, 157. https://doi.org/10.1515/9783110727692-010 

The purpose of this chapter is to introduce how the conceptualization and study of time correspond to the development of personal finance as an interdisciplinary profession. This chapter describes time in the context of one of four dimensions: (a) time horizon, (b) decision frame, (c) orientation/preference, and (d) perception/ perspective. As noted in this chapter, the concept of time is an un-unified concept. Researchers, policymakers, and personal finance practitioners interested in applied financial decision making often focus on goal time horizons. Those interested in decision- maker behavioral tendencies generally limit their inquiries to describing decision time frames or modeling time orientation and time preference. Researchers who are interested in the nonconscious processes underlying human behavior typically focus on evaluating time perceptions and perspectives. To date, these disparate research agendas have not been unified in any meaningful way. This includes, for example, the lack of unified time horizon definitions. This chapter reintroduces the notion that a time horizon definition can be identified and standardized. This chapter concludes with an insight that the future of personal finance will be closely aligned with time horizon, decision time frame, orientation/preference, and perception/perspective research developments that occur over the next few decades

Grable, J. E., & Kwak, E. J. (2022). The Disappointment Dilemma: The Role of Expectation Proclivity and Disappointment Aversion in Describing Financial Risk Aversion and Investing Risk-Taking Behavior. Journal of Financial Counseling and Planning. DOI: 10.1891/JFCP-2021-0012 

This article adds to the existing literature on financial risk aversion and risk taking by testing the possibility that a person’s degree of disappointment aversion, as an anticipatory emotion, may be an antecedent of risk-taking behavior. In this regard, the purpose of this article is to introduce two interrelated measures—the expectation-proclivity scale and the disappointment-aversion scale—and to establish the empirical association between expectation-proclivity and disappointment-aversion scale scores and financial risk aversion and financial risk taking. Results from this study show that disappointment aversion is positively associated with financial risk aversion, whereas establishing high outcome expectations is negatively related with financial risk aversion. Additionally, findings show that disappointment aversion and expectation proclivity are inversely related. Findings from this study provide support for what is termed in this article the disappointment dilemma hypothesis. Specifically, financial decision-makers who are averse to disappointment may be prone to allocating assets and investment dollars in ways that minimize or avoid disappointment in the short-run, but by doing so, may regret risk-avoiding behavior in the future

Grable, J. E., & Kwak, E. J. (2022). Personal Finance: A Policy and Institutional Perspective. De Gruyter Handbook of Personal Finance, 17. https://doi.org/10.1515/9783110727692-002 

Personal finance is often thought of as something most directly associated with the delivery of an educational intervention or the placement of financial products and services. Much of the extant literature in the field of personal finance tends to test hypotheses and models of household consumption and decision making with the goal of assessing and describing individual, family, and household well-being. This narrow view of personal finance does not take into account the profound role that personal finance has in shaping and responding to public and institutional policies. Concepts, tools, and techniques from personal finance have been shown over several decades of analysis to be important descriptors of local, state, regional, and national economic and social outcomes. Public policy has also played an important role in shaping the way personal finance has been defined and applied in practice. Public and institutional policies can have a significant impact, both positive and negative, on the financial well-being of households. In addition to providing a historical review of the relationship between and among public policy, institutional management, and personal finance, this chapter also highlights ten areas with the domain of personal finance that appear to offer the highest impact potential related to public policy and institutional management outcomes over the next few decades.  

Grable, J., Kwak, E. J., Fulk, M., & Routh, A. (2022). A simplified measure of investor risk aversion. Journal of Interdisciplinary Economics34(1), 7-34. https://doi.org/10.1177/0260107920924518 

This article introduces a simplified measure of investor risk aversion. The singleitem question combines elements from revealed preference and propensity measurement techniques in a way that matches traditional constant relative risk-aversion estimation procedures. Based on survey data from 500 investors living in the United States, scores from the proposed measure were found to correlate with other measures of risk aversion, as well as with indicators of risk-taking. A validity test showed that answers to the proposed measure were statistically associated with equity and cash ownership holdings in respondent portfolios. The simplicity and intuitive nature of the proposed measure and the alignment of question response categories to estimates of constant relative risk aversion make this a potentially valuable addition to the toolkit of researchers, financial educators, investors and those who provide advice to investors

Grable, J. E., & Hubble, A. (2022). Fit-for-Purpose: What It Means in the Context of Risk-Tolerance Assessment. Journal of Financial Service Professionals76(1). 

Over the past few years, you have probably heard the term “fit-for-purpose” being used as a way to describe the value of risk-tolerance assessment tools. In this column, we review what is meant by the term fit-for-purpose and summarize nine standards that we believe comprise fit-for-purpose standards.  

Heo, W., Kwak, E. J., & Grable, J. E. (2022). The Role of Big Data Research Methodologies in Describing Investor Risk Attitudes and Predicting Stock Market Performance: Deep Learning and Risk Tolerance. In Handbook of Research on New Challenges and Global Outlooks in Financial Risk Management (pp. 293-315). IGI Global. DOI: 10.4018/978-1-7998-8609-9.ch014 

The purpose of this chapter is to compare the performance of a deep learning modeling technique to predict market performance compared to conventional prediction modeling techniques. A secondary purpose of this chapter is to describe the degree to which financial risk tolerance can be used to predict future stock market performance. Specifically, the models used in this chapter were developed to test whether aggregate investor financial risk tolerance is of value in establishing risk and return market expectations. Findings from this chapter's examples also provide insights into whether financial risk tolerance is more appropriately conceptualized as a predictor of market returns or as an outcome of returns

Heo, W., Rabbani, A., Grable, J. E., & Roszkowski, M. The alpha and omega of financial risk‐tolerance assessment. Financial Planning Review, e1138. https://doi.org/10.1002/cfp2.1138 

Over the past three decades, numerous scaling and attitudinal measurement techniques have been developed to facilitate the assessment of an individual's financial risk tolerance. Cronbach's alpha has traditionally been used as the primary measure of scale reliability for assessment tools that have been developed using classical psychometric theory. Recently, however, psychometricians have raised concerns about the ongoing use of Cronbach's alpha as a robust measure of scale reliability. In its place, some have argued that reliability estimates should be based on greatest lower bound (GLB) and omega estimations. The purpose of this paper is to describe and compare these alternative reliability measures to Cronbach's alpha for a widely used research-focused financial risk-tolerance scale. Using a dataset with 179,450 observations, findings from this study suggest that while estimates based on Cronbach's alpha, omega, and the GLB do differ, for the most part, reliability estimates across the measures are more similar than dissimilar

Nicolini, G., & Cude, B. J. (Eds.). (2022). The Routledge Handbook of Financial Literacy. Routledge.  


Financial literacy and financial education are not new topics, even though interest in these topics among policymakers, financial authorities, and academics continues to grow. The Routledge Handbook of Financial Literacy provides a comprehensive reference work that addresses both research perspectives and practical applications to financial education. This is the first volume to summarize the milestones of research in financial literacy from multiple perspectives to offer an overview

Peng, Y. (2022). Give Me Liberty or Give Me COVID-19: How Social Dominance Orientation, Right-wing Authoritarianism, and Libertarianism Explain Americans’ Reactions to COVID-19. Risk Analysis. https://doi.org/10.1111/risa.13885

While previous research has revealed an ideological divide in Americans’ perceptions of COVID-19, specific ideological components can additionally explain public reactions to the pandemic. With two surveys—one sample of crowdsourced workers (N = 482) and a nationally representative sample of American adults (N = 7449)—this research investigates how multiple ideological facets simultaneously predict individuals’ reactions to COVID-19. The effects of ideological variables were largely consistent when trust in science was considered. This study highlights the role of specific ideological components in contributing to the political divide regarding attitudes toward the COVID-19 pandemic beyond the liberal–conservative identification


Sholin, T. L., Lim, H. N., Reiter, M., Antonoudi, E., & Lurtz, M. (2021). The Money Scripts Related to the Use and Trust of Investment Advice. Journal of Financial Therapy12(2), 4. https://newprairiepress.org/jft/vol12/iss2/4/ 

This study examines the association between four money scripts (i.e., money avoidance, money worship, money status, and money vigilance) and the use of investment advice and trust in that advice from a variety of sources (i.e., family and friends, financial software, financial professionals, and one’s own research). Using primary data, we found that money avoidance was negatively associated with trust in professional financial advice. Money worship is positively associated with receiving investment advice from financial software and doing one’s own research. Money status was negatively associated with trusting one's own research. Money vigilance was positively associated with using a financial professional for investment advice and trusting advice from a financial professional and family and friends. This study's findings provide implications for financial professionals and researchers focused on helping consumers with different money attitudes seek investment advice, utilizing narrative financial therapy and financial education

Thomas, M. G. (2022). Budgeting and Cash Flow Management. De Gruyter Handbook of Personal Finance, 87. https://doi.org/10.1515/9783110727692-006 

Budgeting and cash flow management are often viewed as mundane, trivial, restrictive, and time-consuming household financial tasks. However, individuals who consistently engage in these activities experience higher levels of financial well-being and are more likely to create wealth. Budgeting involves setting clear financial goals and planning how and when financial resources will be allocated before they are spent. Cash flow management is the process of monitoring all sources of cash inflows and outflows necessary to achieve budgetary aims. Both, in tandem, are paramount to feeling a sense of financial control, having the flexibility to make choices, developing the capacity to absorb economic shocks, and confidently planning for the future. Failing to engage in both of these processes may lead to adverse and unforeseen financial consequences. The purpose of this chapter is fivefold. First, the chapter provides a foundational understanding of budgeting and cash flow management. Second, historical and contemporary perspectives on budgeting and cash flow management are explored. Third, research and policy issues are presented. Fourth, practitioner tools and techniques are examined. Fifth, the chapter concludes with a discussion on budgeting and cash flow management’s future direction and applications.  

Warmath, D. (2022). Measuring and Applying Financial Literacy. De Gruyter Handbook of Personal Finance, 473. https://doi.org/10.1515/9783110727692-027 

While financial literacy is hailed as the promised antidote or remedy to poor financial decision making, there is mixed evidence for the ability of financial literacy to deliver on this promise and a lack of consensus as to what financial literacy is. The dominant view equates financial literacy with knowledge of financial concepts and calculations. Numerous studies suggest that financial knowledge alone is insufficient to improve financial outcomes. Despite attempts to conceptualize financial literacy as more than mere knowledge, there remains a misalignment between the concept and its measures. There is an opportunity to clarify and potentially expand what is needed to make effective financial decisions (i.e., what financial literacy is) as well as produce stronger evidence of the role of (or lack of a role for) financial literacy in financial outcomes


White, K. J., & Antonoudi, E. (2022). 12 Income, Income Transfers, and Taxes. De Gruyter Handbook of Personal Finance, 189. https://doi.org/10.1515/9783110727692-012 

The generation of income, and the taxation of such income, is a keystone element in the study and practice of personal finance. Research suggests that income is often broadly defined and the taxation of income varies from country to country and taxing authority to taxing authority. In this chapter, we discuss components of income and types of taxes using examples from the United States as well as other taxing authorities.  

Feb 02, 2022


Dr. Joan Koonce is the 2022 recipient of the Hill Award for Distinguished Achievement in Public Service and Outreach

Dr. Pamela Turner received 3 national awards for her work on Family Health & Wellness, and Environmental Education related projects in the 2021 National Extension Association of Family & Consumer Sciences (NEAFCS) Conference.  

Dr. Kim Skobba has been selected as a participant for the Public Service and Outreach Rural Engagement Workshop

Dr. Jermaine Durham was accepted to the 2022 cohort of the Fanning Institute’s Facilitation Academy. 

Drs. Andy Carswell and Diann Moorman were recognized by students in fall 2021 through the Center for Teaching and Learning (CTL) Thank-a-Teacher program. 


Drs. Lu Fan and Kimberly Watkins have started their new assignments as Assistant Professors of Financial Planning at the University of Georgia from the Spring of 2022. 

Other Updates

FHCE Financial planning annual celebration (Virtual) is scheduled for Feb 25th 1-3:00 pm (ET). Everyone is welcome to attend. Registration and event related information can be found here:



Effie Antonoudi and co-authors presented her paper entitled “College students’ financial socialization processes and otucomes: Implications for first-generation college students” at the 2021 AFCPE symposium 

Lim, H., Harris, J., & Antonoudi, E. (2021). College students’ financial socialization processes and otucomes: Implications for first-generation college students. 2021 AFCPE Symposium (Virtual)

Recent Research Publications

Archuleta, K. L., Glenn, C., Lawson, D. R., Clady, J. P., & Solomon, S. (2021). I know I should, but do I do it? Connecting covert and overt financial behaviors. Journal of Financial Counseling and Planning, 32(3), 550-563. doi: 10.1891/JFCP-2021-0008  


 When it comes to money, clients often know what they should do, but they do not always do it. The purpose of this study was twofold: (a) to introduce a new scale to measure financial cognition and (b) to explore the link between thinking (i.e., covert behavior) and financial behavior (i.e., overt behavior). Social Cognitive Theory and Cognitive Behavioral Theory framed the study. Data were collected in two stages from 236 employees in a Midwestern region. Stage one results suggest a newly developed measure, the Financial Cognition Scale, shows acceptable reliability, and construct validity. Stage two found positive associations between the covert behaviors of financial cognition, financial knowledge, and financial self-efficacy and the overt behavior of financial behavior, and a negative association between financial anxiety and financial behavior. Implications for practitioners and researchers are presented. 

Horwitz, E., Seay, M. C., Archuleta, K. L., Anderson, S. (2021). The association between financial education and change in financial knowledge: The impact of a comprehensive workplace financial education. Journal of Financial Counseling and Planning, 32(3), 449-463. doi: 10.1891/JFCP-19-00082  

This exploratory study employed quasi-experimental research methods to investigate the relationship between adult participation in a comprehensive workplace financial education program and changes in financial knowledge levels. Results revealed a positive association between participation in the education program and changes in financial knowledge levels, even when controlling for demographic and socioeconomic differences between the participant and non-participant groups. However, results did not support an association between perfect attendance in the program and changes in financial knowledge. Evidence from this study provides meaningful insight into the association between adult financial education and financial knowledge and offers guidance for the future development of effective comprehensive workplace financial education programs. 


Lurtz, M., Kothakota, M., Archuleta, K. L., & Heckman, S. (2021). The effect of risk literacy and visual aids on portfolio choices among professional financial planners. Financial Services Review, 29(1), 209-225.    https://www.academyfinancial.org/resources/Documents/Journal/Finser_29_3_Merged_PART_I.pdf 

Financial planners and their clients come together regularly to discuss financial decisions, which are inherently risky. Yet, financial planning research has not explored the impact of risk literacy (i.e., objective numeracy)--the ability to understand and interpret probabilistic trade-offs--and graph literacy on client-planner decision-making quality. This study uses an experimental design to test financial planners' risk literacy and their ability to select the most resilient portfolio based on whether they were given probabilistic information and a visual representation or only probabilistic information. Results indicate that visual representation do help financial planners determine the appropriate choice, but risk literacy does not. Implications for financial planners and future research in this area are discussed


Ryu, S., Fan, L. (2022). The Relationship Between Financial Worries and Psychological Distress Among U.S. Adults. Journal of Family and Economic Issues. https://doi.org/10.1007/s10834-022-09820-9 

This study examines the association between financial worries and psychological distress among US adults and tests its moderating effects by gender, marital status, employment status, education, and income levels. Data were derived from the cross-sectional 2018 National Health Interview Survey (NHIS) of the adult population. The hierarchical regression analysis revealed that higher financial worries were significantly associated with higher psychological distress. Additionally, the association between financial worries and psychological distress was more pronounced among the unmarried, the unemployed, lower-income households, and renters than their counterparts. The findings suggest that accessible financial counseling programs and public health intervention programs are needed to mitigate financial worries and its negative influences on overall psychological health, with greater attention devoted to vulnerable populations. 

Jan 13, 2022

January 2022 Just So You Know… 


The UGA Financial Planning team mentored by Dr. Michael Thomas placed second in the 2021 AFCPE® Knowledge Bowl. 

Prof. Sherle Brown was recognized as the Institute of Real Estate Management (IREM)—GA Academic Member of the year. 

FHCE alumni Alan Moore, Bo Hanson, and John Loftin were recognized in the Bulldog 100 list of top 100 fastest-growing business owned or operated by UGA alumni.  

Effie Antonoudi for putting together the Diversitas event in collaboration with Charles Schwab Asset Management and the University of Akron. 

FHCE Career fair in Fall 2021 was attended by 143 students and 21 companies. Dr. Mary Carlson, Sherle Brown, and Christi Sanders helped tremendously in putting this event together. 

Conference Presentations 

Dr. Yilang Peng and Muna Sharma presented their research entitled "Effects of Visual Aesthetics and Calorie Density on Food Image Popularity on Instagram: A Computer Vision Approach" at the 107th Convention of the National Communication Association in Seattle, WA. 

Michael Gawrys presented his research entitled “Exploring the Pathways of Long-Term Extended Stay Hotel Residents” at the 2021 HERA Conference in Minneapolis, MN. 

Recent Research 

Chatterjee, S., & Fan, L. (2021). Older Adults’ Life Satisfaction: The Roles of Seeking Financial Advice and Personality Traits. Journal of Financial Therapy, 12(1), 4. 51-78. https://doi.org/10.4148/1944-9771.1253 

This paper uses 1,237 respondents from the Health and Retirement Study dataset to examine the relationships among personality, financial advice-seeking, and life satisfaction of U.S. older adults. The results indicate that extraversion is negatively associated with seeking professional financial advice, while conscientiousness and openness were associated positively with seeking professional financial advice. Individuals with a neurotic personality trait were positively associated with seeking financial advice from families and friends. Additionally, seeking professional financial advice, and being extraverted and conscientious, were positively associated with life satisfaction among older adults. The implications for financial therapists and counselors include suggestions for implementation of cross-functional collaborative counseling strategies when working with older clients who may be experiencing physical and mental health-related problems. Implications of the findings for policymakers are also discussed. 

 Exley, J., Doyle, P. C., Grable, J., & Campbell, W. K. (2022). OCEAN wealth profiles: A latent profile analysis of personality traits and financial outcomes. Personality and Individual Differences, 185, 111300. https://doi.org/10.1016/j.paid.2021.111300 

There is a growing interest in the role of personality characteristics in describing financial outcomes. The Big Five personality traits have been shown to predict relevant financial outcomes including income and net worth. In the present research (n = 395), we move beyond individual Big Five personality traits to look at personality profiles in the prediction of financial outcomes. Using latent profile analyses, we identified three profiles—Under Controlled, Resilient, and Over Controlled—which were uniquely associated with income, risk tolerance, and life satisfaction. These patterns held even after controlling for gender, education, and age. The discussion focuses on the relative benefits of a personality approach over the common risk-tolerance approach. 

Grable, J., Kruger, M., Byram, J., & Kwak, E. J. (2021). Perceptions of a Partner's Spending and Saving Behavior and Financial Satisfaction. Journal of Financial Therapy, 12 (1) 3. https://doi.org/10.4148/1944-9771.1257 

The purpose of this study was multifaceted. The first purpose was to test a relatively new scale—the Spender-Saver Perception Scale (Kruger, 2019)—to determine if perceptions of one’s marriage or cohabitation partner’s spending and saving behavior can be used to describe the subjective financial satisfaction of the one making the appraisal. The second purpose was to determine in an exploratory manner whether perceptions of spending and saving differ by the gender of someone in a marital or committed cohabitating relationship. Data for the study were obtained from an online survey of 313 adults. Partner perceptions were evaluated using a scale developed by Kruger (2019), whereas financial satisfaction was measured using a 10-point subjective self-evaluation item. Respondents were categorized into one of three spender and saver groups: (1) those who perceived their partner as a spender, (2) those who perceived their partner as a saver, and (3) those who perceived their partner somewhere between a spender and saver. It was determined that perceiving one’s marital or cohabitating partner as a spender was not associated with the financial satisfaction. However, perceiving one’s partner as a saver was found to be positively associated with financial satisfaction for the person making the assessment. 

Heo, W., Rabbani, A., & Grable, J. E. (2021). An evaluation of the effect of the COVID-19 pandemic on the risk tolerance of financial decision makers. Finance Research Letters, 41, 101842. https://doi.org/10.1016/j.frl.2020.101842 

This paper documents the negative effect of the COVID-19 pandemic on financial risk attitudes across a broad sample of financial decision makers (N = 18,913). Findings show that the risk tolerance of financial decision makers can be altered when an extreme economic, social, or environmental shock occurs. A general shift away from be willing to take financial risk was noted after the COVID-19 pandemic emergency declaration. The COVID-19 pandemic shifted risk preference downward for the majority of financial decision makers in this study. 

Heo, W., Kwak, E. J., & Grable, J. E. (2022). The Role of Big Data Research Methodologies in Describing Investor Risk Attitudes and Predicting Stock Market Performance: Deep Learning and Risk Tolerance. In Handbook of Research on New Challenges and Global Outlooks in Financial Risk Management (pp. 293-315). IGI Global. 10.4018/978-1-7998-8609-9.ch014. 

 The purpose of this chapter is to compare the performance of a deep learning modeling technique to predict market performance compared to conventional prediction modeling techniques. A secondary purpose of this chapter is to describe the degree to which financial risk tolerance can be used to predict future stock market performance. Specifically, the models used in this chapter were developed to test whether aggregate investor financial risk tolerance is of value in establishing risk and return market expectations. Findings from this chapter's examples also provide insights into whether financial risk tolerance is more appropriately conceptualized as a predictor of market returns or as an outcome of returns. 

Lee, H., & Worthy, S. (2021). Changes in consumer wellness during the early weeks of the pandemic. Journal of Family & Consumer Sciences, 113(3), 36-43. https://doi.org/10.14307/JFCS113.3.36 

COVID-19 has affected consumers' wellness-related behavior and lifestyle choices. Online survey respondents were asked about changes in their health and wellness perceptions and behaviors--overall wellbeing, diet, physical activity, and sleep--due to the pandemic. Age was related to changes in all four wellness areas, with older respondents experiencing less change than did younger respondents. Race was related to changes in overall well-being, diet, and sleep. Whites and Asians reported less change than did Blacks or Hispanics. Change in sleep was associated with age, race, marital status, and BMI. Educating consumers on healthy behaviors is more important than ever during COVID-19. 


Lee, H., & Worthy, S. (2021). Adoption of fad diets through the lens of the diffusion of innovations. Family and Consumer Sciences Research Journal. (Advance online publication) https://onlinelibrary.wiley.com/doi/pdf/10.1111/fcsr.12419 

Despite unconfirmed health benefits, consumers continue to adopt fad diets. Based on Rogers’ (2003) diffusion of innovations theory, we investigate which attributes are related to adoption of three popular fad diets (ketogenic, paleolithic, and intermittent fasting) relative to the expert-recommended Mediterranean diet. Binary logistic regression results using data from an online survey of 424 US adults revealed that a diet’s complexity was negatively associated with adoption, while a diet’s relative advantage and compatibility were not related. This study adds to the literature about pro-innovation bias by presenting evidence that Rogers’ theory may not apply to fad diet adoption behavior.

Rabbani, A. G., & Grable, J. E. (2021). Can portfolio risk be described with estimates of financial risk tolerance calibration?. Finance Research Letters, 102492. https://doi.org/10.1016/j.frl.2021.102492 

The purpose of the study was to analyze the degree to which categories of financial risk-tolerance miscalibration are associated with portfolio choices made by financial decision-makers. A differential prediction model was applied to investment risk tolerance data from 2017 to 2018 to assess the presence of miscalibration. Results from Tobit regressions showed that some survey respondents did engage in the miscalibration of their financial risk tolerance. Although results varied by sub-samples, those who systematically under-estimated their financial risk tolerance were observed to hold portfolios that were less risky than those who were able to match their self-assessed risk tolerance to their psychometrically reliable score. No clear pattern of portfolio choice for those who over-estimated their financial risk tolerance was noted. Being female and between the age of 55 to 64, having an income of $100,000 or more, and working with a financial advisor were found to be more consistent descriptors of portfolio risk compared to risk-tolerance miscalibration

Warmath, D., Chen, P. J., Grable, J., & Kwak, E. J. (2021). Soft landings: Extending the cushion hypothesis to financial well‐being in collectivistic cultures. Journal of Consumer Affairs, 55(4), 1563-1590. https://doi.org/10.1111/joca.12408 

This study extends the cushion hypothesis to examine cultural differences in the role of willingness to take financial risk in an individual’s objective financial outcomes (e.g., the experience of material hardship) and in an individual’s assessment of their financial well-being. Using data collected in South Korea, Taiwan, and the United States, we find support for a cushion (i.e., weaker relationship) in the association between material hardship and present and future financial well-being. A cushion was also observed in a weaker association between willingness to take financial risk and expectations for future financial security but not in the experience of material hardship or current money management stress. Our results suggest that cultural context influences an individual’s objective situation as well as their subjective assessment of that situation. This paper adds to existing literature by documenting a cushion effect beyond risk taking to include a person’s objective financial situation and financial well-being.   


Warmath, D., Winterstein, A. P., & Myrden, S. (2021). Parents and coaches as transformational leaders: Motivating high school athletes’ intentions to report concussion symptoms across socioeconomic statuses. Social Science & Medicine, 114559. https://doi.org/10.1016/j.socscimed.2021.114559 

Purpose: Studies demonstrate that parents and coaches play a role in an athlete’s concussion reporting decision primarily through their influence on the decision environment. Little work, however, has explored how a given parenting/coaching style operates to promote intentions and much less work has examined whether the impact of parenting/coaching on concussion reporting differs by socioeconomic status. Transformational parenting/coaching (i.e., a focus on building autonomy and self-efficacy in athletes) represents one promising approach given its effects on other outcomes (e.g., health, burnout, aggression). We hypothesize that athlete perceptions of transformational parenting/coaching will be associated with their reporting intentions directly and through the athlete’s motivation for playing their sport regardless of household income.  

Methods: A national survey of 1,023 high-school athletes measured athlete perceptions of transformational parenting/coaching, sport motivation, and reporting intentions. Structural Equation Modeling was used to examine hypotheses.   

Results: Transformational parenting was directly associated with reporting intentions (β: Reporting Intentions=.265; Scenario 1=.206; Scenario 2=.260) and indirectly through increased autonomous/decreased controlled motivation. Transformational coaching was not directly associated with Reporting Intentions (β=.008, p=.816) or Scenario 2 (β=.046, p=.198) but was for Scenario 1 (β=.077, p=.003). Transformational coaching was also associated with reporting intention indirectly through increased autonomous, but not controlled motivation. Athletes with household income of $50,000+ were more likely to report transformational parenting/coaching. The effects of transformational parenting/coaching did not differ for athletes from higher versus lower income households.  

Conclusions: Transformational parenting/coaching may encourage greater concussion reporting intentions, primarily through increased autonomous (i.e., self-directed) sport motivation regardless of socioeconomic status. Cultivating transformational leadership in parents/coaches can have a positive impact on the athlete’s intention to report concussion-like symptoms.   

White, K., Park, N., Watkins, K., McCoy, M., & Morris, J. (2021). The relationship between objective financial knowledge, financial management, and financial self-efficacy among African American students. Financial Services Review, 29(3), 169-185. 

Research consistently shows the positive associations of objective financial knowledge, management, and self-efficacy on college students' financial literacy. However, there is a need for a more nuanced examination of the factors contributing to African American college students' financial literacy. Using the National Student Financial Wellness Study and structural equation modeling, findings suggest that for African American students, objective financial knowledge is not directly or indirectly associated with financial self-efficacy. Only financial management is significantly associated with increased financial self-efficacy. These findings indicate that experiential learning may be effective for improving African American students' financial literacy. 

Oct 07, 2021


FHCE visiting scholar, Dr. Marlene Haupt, RW University of Applied Sciences (RWU) and the Munich Center for the Economics of Aging, Germany. Dr. Haupt plans to collaborate with FHCE faculty and doctoral students on related research projects. 


Dr. Kenneth White was recognized as the 2021 Outstanding Young Faculty at the 35th Annual Meeting of the Academy of Financial Services (Virtual) Conference in September, 2021. 

Drs. Lance Palmer, Dee Warmath, and Joan Koonce along with Karen Demeester, Catherine O’Neal, Anthony Mallon, Theodore Futris received approval for the continuation of their grant entitled “ Increasing ACE Protective Factors through Expanded Utilization of the EITC among Minority Households” from the US Department of Health and Human Services for $448,899.  

Drs. Pamela Turner and CAES colleagues Dr. Timothy Davis (PI), and CO-PIs Virginia Brown and Maria Bowie received a grant entitled “Preparing Extension Employees for Emergencies & Natural Disasters” from the USDA Smith-Lever Special Needs Competitive Grants Program for $148,911 (Term: 9/1/21-8/31/22).  

Dr. Brenda Cude was invited to participate on two panels of experts along with our current and former visiting international scholars Drs. Marlene Haupt and Gianni Nicolini at the International Academy of Financial Consumers’ Global Forum for Financial Consumers. The website for the conference is https://www.iafico.org/2021. The two sessions were: 

Cude, B. J., Haupt, M., Nicolini, G., Yang, H. K., & Van, D. T. T. (2021, August 7). The many dimensions of financial literacy [Chaired panel]Global Forum for Financial Consumers, virtual. 

Tennyson, S., Cude, B. J., Kerton, R., Loibl, C., Seog, S. H., & Mamun, M. (2021, August 67). Financial consumer protection: Linking theories and evidence to policy practices [panel]. Global Forum for Financial Consumers, virtual  

Dr. Kristy Archuleta has been invited to speak on the topic entitled “Exploring your attitudes, values, and beliefs to better serve your clients” at the 2021 National Conference of the National Association of Personal Financial Advisors (NAPFA), Las Vegas, NV. She also serves as the Consumer Representative on the Board of NAPFA. 

Eunjin Kwak (co-authored with Dr. John Grable) presented their research entitled “A Comparison of Financial Risk Tolerance Assessment Methods” at the 35th Annual Meeting of the Academy of Financial Services Conference in September, 2021. 

Michael Gawrys (faculty mentor: Dr. Kim Skobba) presented his research entitled “Understanding The Subtleties Of Small Dollar Mortgage Origination” at the 35th Annual Meeting of the Academy of Financial Services Conference in September, 2021. 

Heejae (Hannah) Lee (faculty mentor: Dr. Dee Warmath) will be presenting her research entitled “Help-Seeking as a Moderator Between Financial Decision-Making Ability and Decision Fatigue”, at the Society for Judgment and Decision-making 2021 Conference in San Diego, Nov. 2021.

Jia Qi (co-authored with Dr. Sheri Worthy and Swarn Chatterjee, and Drs. Keith Herndon and Bartosz Wojdynski of the Grady College ) will be presenting his research entitled “Using an Extended Post-Acceptance Framework to Examine Consumer Adoption of Fintech” at the CFP Board’s Academic Research Colloquium (Virtual Conference) in Nov, 2021

Yingyi (Tracy) Liu, Yulia Zhang, and Jia Qi (faculty mentor: Dr. Swarn Chatterjee) will be presenting their research entitled “Financial wellbeing among American households during the COVID-19 pandemic: the role of CARES Act” at the CFP Board’s Academic Research Colloquium (Virtual Conference) in Nov, 2021

Recent Research 

Ghimire J, Carswell AT, Ghimire R, Turner P.R. (2021). The Impact of U.S. Housing Type and Residential Living Situations on Mental Health during COVID-19. International Journal of Environmental Research and Public Health, 18(16):8281. https://doi.org/10.3390/ijerph18168281 

Residential environments could be associated with the mental health of residents, in general, and during the COVID-19 pandemic. However, limited studies have investigated the relationship between these two. This study used data from the Household Pulse Survey, collected between 23 April 2020 and 23 November 2020 to explore the relationship between mental health status as perceived by the residents and housing tenure (own or rent), building type, and the number of household members, while accounting for sociodemographic characteristics, general health-related variables, and week-specific unobserved heterogeneities. The findings suggest that renters had higher odds of experiencing mental health issues than homeowners. Residents in multifamily housing units had higher odds of experiencing mental health problems than single-family units. Further, more people in the household were associated with lower odds of experiencing mental health episodes during the COVID-19 pandemic

Liu, Y., Zhang, Y., & Chatterjee, S. (2021). Financial hardship and depression experienced by pre-retirees during the COVID-19 pandemic: the mitigating role of stimulus payments. Applied Economics Letters, https://doi.org/10.1080/13504851.2021.1989364

This study examines the association between financial hardship and depression among pre-retirees (ages 50 to 65) using the Health and Retirement Study (HRS) and its 2020 COVID-19 supplement. We find a negative association between the amount of stimulus received and financial hardship experienced by respondents during the pandemic. Additionally, the results indicate that African American households were less likely to increase spending, Hispanic households were more likely to increase savings, and households with lower educational attainment were more likely to pay down debt using their stimulus money. Financial wealth was negatively associated with the perception of feeling depressed. Overall, the findings from this study underscore the important role that the stimulus checks and other financial resources played in buffering the economic shock experienced by American households during the COVID-19 pandemic

Rabbani, A., Heo, W., & Grable, J. E. (2021). The role of financial literacy in describing the use of professional financial advisors before and during the COVID-19 pandemic. Journal of Financial Services Marketing, 1-11. https://link.springer.com/article/10.1057/s41264-021-00109-w

This paper documents the effect of the COVID-19 pandemic on the use of profession financial advisors across a broad sample of financial decision makers (N = 16,431). Findings show that financial literacy played a significant role in describing the use of financial advisors in the USA before and during the pandemic. Those who exhibited higher levels of financial literacy were more likely to use the services of professional financial advisors. Based on a series of regression tests, it was determined that the effect of COVID-19 on the use of financial advisors was, to some extent, moderated by financial literacy. 

Skobba, K., Moorman, D., & Meyers, D. (2021). The Cost of Early Independence: Unmet Material Needs Among College Students With Homelessness or Foster Care Histories. Journal of Adolescent Research, 07435584211014831. 

Qualitative interview data were used to explore the experiences of college students with foster care or homelessness experiences. Participants, with an average age of 21 years, included 18 female and nine male students with a history of homelessness or foster care enrolled in several independent 4-year colleges in one Southeastern state. Participants were recruited through a flyer that was distributed via an email message to individuals and organizations who worked with prospective participants. The qualitative data were collected over the course of an academic year from several in-depth, semi-structured interviews. Interviews were analyzed using a directed content analysis approach to identify key themes: getting by on their own, meeting material needs requires agency, and the Catch-22 of managing academic and material needs. Findings suggest that many of the students in the study experienced a fragile and seemingly unsustainable balance between meeting material needs and academic demands. The current financial aid model, which relies on significant contributions from parents, was insufficient for most students in the study. Results support the need for interventions that improve the ability of students with foster care and homelessness histories to manage their material and academic needs as college students

Warmath, D., O’Connor, G. E., Newmeyer, C., & Wong, N. (2021). Have I Saved Enough to Social Distance? The Role of Household Financial Preparedness in Public Health Response. Journal of Consumer Affairs. https://doi.org/10.1111/joca.12410

Behavioral responses such as social distancing are important in the fight to contain COVID-19 transmission, yet motivating such responses is an overwhelming, resource-intensive task. Using multi-wave data from 23,735 US adults collected in May/September 2020, and January 2021, this study examines how financial preparedness in the form of savings influences the relationship predicted by the Health Belief Model between the degree of concern for COVID-19 and engagement in social distancing. Findings indicate that general concern for COVID-19 is related to the decision to engage in social distancing for individuals who have less saved. Curiously, higher levels of financial preparedness are associated with a lower likelihood of social distancing at least among people who had been laid off during the pandemic. The findings suggest a tradeoff between protecting one's standard of living and their health. Government and public health agencies should consider financial preparedness in the design of public health communications

Jul 26, 2021

Just So You Know for June and July...


Keturah Orji (2018, Financial Planning)—Triple Jump and Garrett Scantlin (2016, Financial Planning)—Decathlon, will be representing USA in the Tokyo Olympics. And Chanice Porter (2017, Consumer Economics and Financial Planning)—Long jump, will be representing Jamaica in the Tokyo Olympics.  

Anthony Rodriguez and Linda Olvera, both undergraduate Financial Planning students received the Yeskie Buie Scholarship to attend the Financial Planning Association (FPA) Virtual Externship Experience. Thank you to Drs. John Grable and Mary Carlson for all the help through this process. 

Dr. Kristy Archuleta on starting her new role as the Graduate Coordinator for the Department of Financial Planning, Housing and Consumer Economics. 

Dr. Kenneth White successfully hosted the first virtual UGA Financial Planning Academy sponsored by Charles Schwab over this summer in collaboration with Texas Tech University. The Financial Planning Academy is a summer program for high school students.  

FHCE Doctoral students successfully defended their dissertations:  

Portia Johnson (Co-major Professors: Drs. Carswell and Skobba, Committee: Drs. Durham and Cude). Portia will be starting her new position as Assistant Professor at Virginia Tech from Fall 2021.  

Jessica Parks (Major Professor: Dr. Moorman; Committee: Drs. Skobba and Thomas). Jessica will be starting her new position as Assistant Professor at Nevada State College from Fall 2021. 

 Martha Fulk (Major Professor: Dr. Grable; Committee: Drs. White and Turner). Martha currently works as the Lead Learning Technologist at Georgia State University. 

Congratulations to Drs. Johnson, Parks, and Fulk. Thank you to Drs. Carswell, Grable, Moorman, and Skobba for serving as major professor for these students; and thank you to Drs. Cude, Durham, Skobba, Thomas, Turner, and White for your valuable service as doctoral student committee members of these students. 

We received approval for the renaming of the Consumer Journalism as the Social Entrepreneurship for Consumer Well-being program. The mission of the Social Entrepreneurship major will be “to equip students with the process, skills, and knowledge they will require to shine the light and solve the riddle for a variety of wicked, interdisciplinary social problems people and communities face”. https://www.fcs.uga.edu/fhce/social-entrepreneurship

Congratulations to Drs. Palmer, Koonce; FHCE alumna and VITA Project Manager Faith Rasmussen, alumnus Ben Jacobs, and all the UGA extension agents involved with the VITA program—Ashleigh Childs, Becca Stackhouse, Carlin Booth, Carrie Vanderver, Christa Campbell, Cindee Sweda, Dana Carney, Emma Poston, Georgeanne Cook, Ida Jackson, Jessica Moore, Kathryn Holland, Keishon Thomas and Pat Hill, Leigh Anne Aaron, Mitzi Parker, Nicole Walters, Rachel Stewart, Roxie Price, and Terri Black for the impact generated by the UGA VITA program. The full report can be read here: 


Recent Research 

Archuleta, K. L., Asebedo, S. D., ..et al. (2021). Facilitating Virtual Client Meetings for Money Conversations A Multidisciplinary Perspective on Skills and Strategies for Financial Planners. Journal of Financial Planning.



The COVID-19 pandemic has accelerated the relevance and prevalence of virtual client communication. This paper offers a multidisciplinary perspective on best practices and theory that create a productive virtual environment to protect and enhance client outcomes. This paper integrates the theory of polymedia and the Therapeutic Pyramid to address the multiple types of media used in financial planning client relationships. Best practices in these key areas are introduced: necessary preconditions, professional’s way of being, and professional-client relationship dynamics—as well as skills and techniques associated with the psychological environment, physical environment, communication, and meeting effectiveness. Client confidentiality issues and cautions for advising at a distance are also presented

Grable, J. E., & Kwak, E. J. (2021). The role of disappointment aversion and expectation proclivity in describing financial risk aversion among financial decision-makers. International Journal of Bank Marketing. https://www.emerald.com/insight/content/doi/10.1108/IJBM-12-2020-0593/full/html?casa_token=KTyRGG_DbYgAAAAA:veVSCzH5zO7F5cxZa-K8D1Hod56hPI6gIrcBTKj1gOe35YaZfSqBSTp2aGDwLfmXQD3wQs2EsKw1CR2EYHACO_9qbwIYoMZOCxsmikRuVUCGl62hkI8

Using data obtained from 525 individuals who were surveyed during early spring 2020, this study addressed three aims: (1) to ascertain the degree to which disappointment aversion and expectation proclivity are related; (2) to identify who is most likely to exhibit patterns of disappointment aversion; and (3) to determine to what extent the combination of disappointment aversion and expectation proclivity is associated with financial risk aversion. A negative relationship between disappointment aversion and expectation proclivity was noted, which is counter to conventional thinking. It is traditionally thought that those who establish high expectations will experience the greatest disappointment when choice outcomes fall below expectations. In this study, it was determined that when a financial decision-maker consistently establishes high outcome expectations and results fall below expectations, the financial decision-maker feels less disappointment. More precisely, those who consistently establish high expectations tend to be more disappointment tolerant than others. This paper provides evidence that categories of disappointment aversion and expectation proclivity are associated with financial risk aversion and certain demographic characteristics. Findings from this paper indicate that a commonly used heuristic that decision-makers should reduce expectations to avoid disappointment may not be accurate or particularly useful in the context of financial decision-making. Findings from this study add to the existing body of literature by showing that aversion to disappointment and the establishment of expectations, while distinct concepts, are interrelated

Kopot, C., & Cude, B. J. (2021). Channel Depth or Consistency? A Study on Establishing a Sustainable Omnichannel Strategy for Fashion Department Store Retailers. Sustainability, 13(13), 6993. https://www.mdpi.com/2071-1050/13/13/6993

In recent years, fashion department stores have struggled to sustain their foothold in the competitive market due to changing consumer behavior as well as technological advancement. This study aimed to examine customers’ perspectives on the shopping channels of omnichannel fashion department stores. The analysis was based on data from 552 customers who shopped at U.S. omnichannel fashion department stores. Confirmatory factor analysis and structural equation modeling were utilized to analyze the hypothesized relationship. The results showed that brand attitude mediated the influence of perceived fluency of customers’ purchase intentions in the omnichannel fashion department store setting. Content consistency and process consistency also positively affected customers’ perceived fluency of the channels of those fashion department stores. Customers are more likely to purchase from a fashion department store that provides consistent content and processes across the multiple shopping channels from which they can purchase merchandise. Further, customers value consistency of the content and processes across all fashion department store channels. The results are insightful especially for industry practitioners, as it enables them to develop a sustainable omnichannel business strategy by focusing on the depth of the channels and channel consistencies (content and process) while improving customers’ purchase intention from their stores

Lee, H., & Worthy, S. (2021). A Qualitative Analysis of Young Adults’ Health and Wellness Perceptions, Behaviors, and Information Seeking. Journal of Human Sciences and Extension, 9(2), 1-19. https://www.jhseonline.com/article/view/91

Access to health- and wellness-related resources is unprecedented, and the desire to attain and use that information is high. However, the information is not always accurate, and individuals may be selectively choosing the information they read and follow. Additionally, although Americans have access to more health and wellness information than ever before, rates of obesity, hypertension, and sedentary lifestyles are still high. This study investigated information seeking for health and wellness-related resources by healthy, educated, young adults and their health and wellness perceptions and behaviors. Five focus groups were conducted with 35 young adults to gather information about diet, exercise, sleep, and stress management. The information-seeking skills and skepticism of information were high for this sample. They were more informed and practiced healthier behaviors related to nutrition and exercise than expected. However, they were less knowledgeable about good sleep hygiene and had varying sleep behaviors. The stress management techniques employed were a balance of healthy and unhealthy behaviors. This study’s findings imply that it would be useful for family and consumer sciences educators and Extension professionals to add educational programming about good sleep hygiene and stress management techniques in addition to nutritional and healthy activity education. 

Lurtz, M. R., Archuleta, K., Kothakota, M., & Jorgensen, T. J. (2021). A deeper dive: A mixed methods approach to risk tolerance. Financial Planning Review, 4(2), e1112. https://onlinelibrary.wiley.com/doi/full/10.1002/cfp2.1112

Most risk tolerance studies are quantitative, even though many factors that may affect the manifestation of risk tolerance are qualitative. This study employed a mixed-methods approach to investigate how individuals consider risk tolerance as it relates to their financial situation. Fuzzy-trace theory, a psycholinguistic theory of risk processing rooted in prospect theory that is becoming increasingly popular in the medical field, guided the study. Quantitative results indicate that stated versus revealed measures of risk tolerance are not consistent for most people. However, higher risk literacy increases the likelihood of consistency. Qualitative results reveal that individuals perceive risk tolerance through various lenses, including knowledge, values, emotions, and personal experience

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