1. Credit, Saving, and Insurance Practices Influencing Satisfaction With Preparation for Financial Emergencies Among Rural Households
Tahira K. Hira
A family resource management framework was used to develop a model of relationships between socioeconomic variables, financial management practices, and satisfaction with preparation for financial emergencies. This study examined direct and indirect effects of socioeconomic charac teristics and mediating effects of financial management practices variables on satisfaction with preparation for financial emergencies. A sample of 297 money managers was randomly selected from two rural counties of a midwestern state. Results showed that households’monthly income was the only socioeconomic variable that had a significant direct effect on satisfaction with preparation for financial emergencies, whereas the effects of other socioeconomic variables were mediated through the effects offinancial management practices. Financial management practices such as the managerial behavior index, monthly saving, and the number of insurance types had significant positive effects on satisfaction with preparation for financial emergencies. Monthly debt payment had a significant but negative effect on satisfaction. The managerial behavior index and monthly debt payment had both direct and indirect effects on satisfaction with preparation for financial emergencies. Their indirect effects were mediated through monthly saving. Monthly saving and the number of insurance types showed only direct effects on satisfaction with preparation for financial emergencies.
2.The effects of perceived locus of control and perceived income adequacy on satisfaction with financial status of rural households
Journal Journal of Family and Economic Issues
Publisher Springer Netherlands
ISSN 1058-0476 (Print) 1573-3475 (Online)
Issue Volume 14, Number 4 / December, 1993
Subject Collection Humanities, Social Sciences and Law
SpringerLink Date Friday, January 21, 2005
Link downlowd PDF (1.3 MB)
The effects of perceived locus of control and perceived income adequacy on satisfaction with financial status of rural households
Ujang Sumarwan1 and Tahira K. Hira2
(1) Department of Community Nutrition and Family Resources, College of Agriculture, Bogor Agricultural University, Bogor, Indonesia
(2) Department of Human Development and Family Studies, Iowa State University, 1086 LeBaron Hall, 50011-1120 Ames, Iowa
Abstract The purpose of this study is to examine the relationships among selected socioeconomic variables — perceived locus of control, perceived income adequacy, and satisfaction with financial status. Results of the study indicate that age, household income, household net worth, perceived locus of control, and perceived income adequacy are significantly related to satisfaction with financial status. Household income and household net worth have indirect effects on satisfaction through perceived locus of control and perceived income adequacy. Perceived locus of control also has an indirect effect on satisfaction through perceived income adequacy. These findings suggest that counselors and educators should emphasize the importance of perceptions of income adequacy and control over financial aspect in their courses and programs.
Key words perceived income adequacy – perceived locus of control – satisfaction with financial status – socioeconomic variables
Journal Paper No. J-14499 of the Iowa Agriculture and Home Economics Experiment Station, Ames, Iowa. Project No. 2809.
His research interests include consumer credit and family resource management. He received his Ph.D. from Iowa State University in 1993.
Her research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri.