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Thursday, April 17
 

8:00am EDT

8:00am EDT

F1a Differences in Older Adults’ Economic Security When Experiencing Chronic Health Conditions: Insights From Electronic Health Records, Wage Earnings, and Credit Data
Thursday April 17, 2025 8:00am - 9:30am EDT
Economic insecurity in older age can reduce the ability to cope with a costly disease and exacerbate racial health disparities. This study asks: How do different sources of financial resources associate with the control of type-2 diabetes, a common chronic condition in older age? We construct a new panel dataset that links electronic health records to employment and credit data for a sample of older adults in [name of state] from 2018-2022. We identify how wage earnings, access to credit, and debt are related to diabetes control and disability-related complications. We examine heterogeneity by race, gender, and income. The risk ratio for a 100-unit increase in credit score is 0.754 for being in the severely uncontrolled vs the controlled diabetes category, indicating a substantial decrease in risk for being in the severely uncontrolled diabetes group, pointing to the association between financial resources and diabetes control. Our high frequency data across diverse resource streams offers unique insights into early warning signs of economic insecurity in older age that contribute to racial disparities.
Thursday April 17, 2025 8:00am - 9:30am EDT
Three Rivers (William Penn Level)

8:00am EDT

F1b The Role of Individual and Regional Factors in Health Satisfaction
Thursday April 17, 2025 8:00am - 9:30am EDT
This study investigates how individual and regional factors influence health satisfaction in South Korea, focusing on disparities in healthcare access and economic resources across regions. Using multilevel analysis, it examines the combined effects of individual sociodemographic characteristics (e.g., subjective health status, chronic illness, disability) and regional variables (e.g., employment rate, fiscal independence, healthcare infrastructure) on health satisfaction. Data were sourced from the 2021 Koreans’ Happiness Survey and regional statistics from Statistics Korea, covering a representative sample of 17,357 individuals and 225 municipalities. Results reveal significant variation in health satisfaction across regions, with individual factors like education and income positively associated with satisfaction, while perceived stress and chronic illness have negative impacts. Regional healthcare resources and economic resilience were found to interact with subjective health, further influencing satisfaction levels. This study highlights the importance of regional economic support and healthcare accessibility in fostering health equity, offering policy insights for addressing health disparities. Through a comprehensive multilevel model, the research provides evidence of the resilience-building role of both individual and regional factors in shaping equitable health outcomes.
Thursday April 17, 2025 8:00am - 9:30am EDT
Three Rivers (William Penn Level)

8:00am EDT

F1c The Unequal Burden of Health on Household Wealth: Gender Differences in Chronic Illness Effects
Thursday April 17, 2025 8:00am - 9:30am EDT
This study aims to explore the relationship between health and household wealth in couples using data from the 1996-2020 Health and Retirement Study (HRS). Employing a hierarchical linear modeling (HLM) approach, it examines the economic influences of health issues on household wealth, differentiating between the effects of husbands' and wives' health conditions. The results indicate that wives’ chronic diseases, such as diabetes, cancer, and stroke, are linked to significant reductions in household wealth, whereas similar health issues in husbands have a minimal effect. However, when health problems limit work capacity, the husband’s diseases tend to negatively impact household wealth more than the wife’s. These findings highlight the gender-specific effects of health on wealth and suggest that policymakers should consider these differences when designing policies aimed at health and financial security.
Thursday April 17, 2025 8:00am - 9:30am EDT
Three Rivers (William Penn Level)

8:00am EDT

F2 Parental Influence on Financial Well-Being
Thursday April 17, 2025 8:00am - 9:30am EDT
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F2a Financial Helicopter Parenting and College Student Financial Well-Being
Thursday April 17, 2025 8:00am - 9:30am EDT
Financial socialization typically conceptualizes influences on children’s financial well-being through modeling, instruction through parent-child discussion, and experiential learning.  However, helicopter parenting, which is marked by age-inappropriate parental involvement in emerging adults’ decision-making, does not fit into this model.  The present study sought to examine the relationship between financial helicopter parenting and perceived financial well-being and financial self-confidence in 203 college students.  Results indicate that financial helicopter parenting is related to having less confidence in financial abilities, engaging in financial strain behaviors, and reporting lower levels of financial well-being, though there was no relationship with student loan or consumer debt.  This unique pattern of results suggests a need for modified interventions to improve financial well-being and behavior.
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F2b Financially Supporting Children and Parents’ Retirement Planning
Thursday April 17, 2025 8:00am - 9:30am EDT
Recent evidence shows that there has been an increase in the number of parents who are financially supporting their adult children. The concern is whether this is affecting parents’ retirement planning negatively. This study uses data from the 2021 National Financial Capability Study (NFCS) to examine how financially supporting young adult children is associated with parents’ retirement planning. The results suggest that individuals who financially support their young adults are less likely to have retirement accounts and are more likely to worry about running out of money in retirement compared to those who do not have financially dependent children.
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F2d The Roles of Financial Socialization and Financial Capability Across Generations' Financial Well-being
Thursday April 17, 2025 8:00am - 9:30am EDT
The antecedents of financial well-being have been explored in various methods to understand how to improve individuals' and families’ overall well-being. For instance, the role of family financial socialization is of particular importance since the family unit is the primary socializing agent for most individuals until they are young adults (Danes & Yang, 2014; Gudmunson & Danes, 2011; LeBaron-Black et al., 2022). Central factors to financial well-being typically include reviewing a person’s objective and subjective financial factors associated with financial wellness. Additionally, a person’s financial circumstances (e.g., having an emergency fund), mental health, lower levels of financial stress), and perception of their financial situation are all common factors associated with improved financial well-being (Asebedo & Wilmarth, 2017; Archuleta et al., 2013; Park et al., 2017). Given the multifaceted nature of financial well-being, researchers must take a holistic approach when examining this construct. The purpose of this study is to empirically examine the influence of family financial socialization on individuals’ financial well-being across generations. These differences underscore how financial stability improves with age. This study is important because previous studies have shown age, or generation, to be an important predictor of financial well-being.
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F3 Fintech
Thursday April 17, 2025 8:00am - 9:30am EDT
Thursday April 17, 2025 8:00am - 9:30am EDT
Lawrence Welk (Mezzanine)

8:00am EDT

F3a Bridging Gaps in Financial Wellbeing: The Role of Fintech for Americans With Disabilities
Thursday April 17, 2025 8:00am - 9:30am EDT
This study investigates the association between disability status and the financial wellbeing of U.S. households, while also examining the moderating role of financial technology (Fintech) to explore the potential for technology-driven interventions for individuals with disabilities. Results from the 2021 National Financial Capability Study dataset show that disability status is negatively associated with financial satisfaction. Among the Fintech variables, online banking, mobile payment, and mobile task management are positively correlated with financial satisfaction, whereas mobile banking and mobile transfers are negatively correlated. Additionally, we found that Fintech plays a moderating role in the association between disability status and financial well-being, particularly for respondents with multiple disabilities. Specifically, mobile payment, transfers, and task management significantly improved financial satisfaction among individuals with multiple disabilities compared to non-users. These findings suggest that targeted Fintech solutions may help mitigate financial disparities faced by individuals with disabilities, underscoring the importance of accessible, inclusive financial technology.
Thursday April 17, 2025 8:00am - 9:30am EDT
Lawrence Welk (Mezzanine)

8:00am EDT

F3b Fintech Use, Financial Confidence, and Financial Health Among Young Adult Consumers
Thursday April 17, 2025 8:00am - 9:30am EDT
The current study investigated the mediation effect of financial confidence on the relationship between fintech use and financial health among college students. From February to May 2023, a self-reported survey was conducted to collect primary data from college students. Structural equation modeling (SEM) was used to identify reliable factors with SPSS Macro Process Model 4. The results indicated that financial confidence fully mediated the relationship between fintech use and financial health. Fintech use was positively associated with financial confidence, and financial confidence predicted financial health. Moreover, the direct impact of fintech use on financial health was insignificant. The findings indicate that fintech should be adopted as a tool to shape young adult consumers’ financial health by building their financial confidence. Financial institutions, financial planners, and governments should apply these empirical findings to their potential young adult clients.
Thursday April 17, 2025 8:00am - 9:30am EDT
Lawrence Welk (Mezzanine)

8:00am EDT

F3c IT-Mindfulness and Fintech Adoption: Exploring Mediators and Moderators of Usage Intentions
Thursday April 17, 2025 8:00am - 9:30am EDT
In today’s digital age, financial technology (fintech) innovations are revolutionizing the way individuals and businesses manage financial transactions and services.  As more individuals rely on digital platforms for financial management, understanding the psychological and cognitive factors that influence the adoption of fintech becomes essential. A key aspect of this study is the incorporation of IT-mindfulness, a concept derived from mindfulness research but adapted to reflect how users engage with technology. This study employs the Technology Acceptance Model (TAM) to explore the determinants of fintech adoption. This study extends TAM by incorporating IT-mindfulness as a precursor to these traditional determinants, hypothesizing that users who exhibit higher levels of IT-mindfulness are more likely to perceive fintech platforms as easy to use and useful. Moreover, this study introduces digital technology self-efficacy and financial literacy as key variables in understanding fintech adoption. This comprehensive model aims to provide a deeper understanding of how cognitive factors like IT-mindfulness interact with traditional TAM variables and personal competencies to influence users' fintech adoption behaviors.
Thursday April 17, 2025 8:00am - 9:30am EDT
Lawrence Welk (Mezzanine)

8:00am EDT

F3d Technology Readiness, Adoption of Digital Financial Services, and Impact on Financial Well-being
Thursday April 17, 2025 8:00am - 9:30am EDT
This study examines the relationship between technology readiness, adoption of digital financial services (DFS), and financial well-being among individuals in Maharashtra, India. Using primary data from 715 respondents and employing structural equation modeling, the research analyzes how technology readiness influences DFS adoption and subsequent impacts on financial well-being. The Technology Readiness Index measures propensity to embrace new technologies, while custom indices assess DFS adoption and financial well-being. Key findings indicate technology readiness positively influences DFS adoption, which in turn significantly improves financial well-being. Demographic factors like age, education, and income moderate these relationships. Notably, while DFS adoption generally enhances financial well-being, impacts vary across socioeconomic groups. The study provides insights for tailoring DFS offerings and financial education programs to different consumer segments, potentially improving equity in financial services access. Results can inform strategies to build consumer financial resilience through targeted interventions addressing DFS adoption barriers. This research contributes to understanding how digital financial inclusion can enhance consumer well-being, with implications for policymakers and financial service providers in developing economies.
Thursday April 17, 2025 8:00am - 9:30am EDT
Lawrence Welk (Mezzanine)

8:00am EDT

8:00am EDT

F4a Immigrant Status and the Severity of Financial Vulnerability in Households With Older Adults
Thursday April 17, 2025 8:00am - 9:30am EDT
The purpose of this study is to analyze differences in self-reported financial vulnerability among older adults by immigrant status. Overall, foreign-born Hispanic males have lower anxiety frequency related to day-to-day financial decisions than both U.S. born Hispanic males and foreign-born White males. However, foreign-born respondents have higher odds of being “very worried” about losing financial freedom when compared to US-born respondents who are “not worried” or “somewhat worried” about losing financial freedom. More specifically, foreign-born White males or foreign-born Hispanic females have 267.8% and 471.9% higher odds of being “very worried” about losing financial freedom than U.S.-born White males or U.S.-born Hispanic females who are “not worried” or “somewhat worried” about losing financial freedom, respectively. Finally, foreign-born respondents are more likely to have higher frequencies of being talked into spending or donating when compared to US-born respondents. In particular, foreign-born Hispanic females have 211.7% higher odds of having higher frequencies of being talked into spending or donating money when they initially did not want to than U.S.-born Hispanic females.
Thursday April 17, 2025 8:00am - 9:30am EDT
Bob & Delores Hope (Mezzanine)

8:00am EDT

F4b Harvesting the Fruits of their Labor: Understanding the Role of Mixed Immigration Status in Family Financial Socialization
Thursday April 17, 2025 8:00am - 9:30am EDT
Families with mixed documented and undocumented legal statuses encounter significant challenges that impact their financial wellbeing (Ayon et al., 2023). This study explores family financial socialization within Latine mixed-status families, a relatively understudied group. Over the past decade, research has highlighted the crucial role parents play in shaping their children’s financial understanding. This process involves transmitting financial information, skills, attitudes, and behaviors through observation, discussions, and experiential learning. While previous studies have noted variations in family financial socialization based on race, ethnicity, and immigration status, there is limited research on mixed-status families. This study aims to fill this gap by examining the experiences and perceptions of 12 dyads of college students and their parents from Latine mixed-status families across the United States. By focusing on how immigration status influences financial socialization, the study seeks to uncover the unique challenges these families face and their strategies for financial education. This research will provide valuable insights into the dynamics of financial socialization in Latine mixed-status families, contributing to a broader understanding of how diverse family backgrounds impact financial well-being.
Thursday April 17, 2025 8:00am - 9:30am EDT
Bob & Delores Hope (Mezzanine)

8:00am EDT

F4c Immigrants’ Financial Fraud Experience in the U.S.
Thursday April 17, 2025 8:00am - 9:30am EDT
Despite the number of immigrants in the U.S., limited research exists on their financial fraud experience. Delving deeper into immigrants’ financial fraud experience including the types of fraud is important because it can be a barrier for them to be fully integrated into the U.S. economy. The primary purpose of this study was to understand the fraud experience of immigrant consumers in the United States and to identify possible associations between individual factors and state-level factors and financial fraud experience and type of fraud experienced. Individual factors include financial literacy and cognitive abilities (from the data of Understanding America Study), and state-level factors include measures for proportion immigrant population (from the American Community Survey) and fraud severity (from Federal Trade Commission) in the state of residence. The study found that financial fraud experience was more widespread for first- and second-generation immigrants compared to non-immigrants, and misrepresentation of information was the most frequently experienced type of financial fraud. The results from SEM showed that the lower financial literacy among second-generation immigrants and the trend that immigrants tend to reside in the states with more foreign-born population and with higher fraud severity partially contributed to immigrants’ fraud experience.
Thursday April 17, 2025 8:00am - 9:30am EDT
Bob & Delores Hope (Mezzanine)

8:00am EDT

F4d Immigration and Financial Engagement
Thursday April 17, 2025 8:00am - 9:30am EDT
This study examines how citizenship and immigration status, along with distinct pre-migration and post-migration factors, shape financial engagement and inclusion among U.S. consumers, focusing particularly on immigrants. Financial resilience and equitable access to services are essential for consumer well-being, yet many immigrants face barriers rooted in both their countries of origin and experiences in the U.S. Using data from the FDIC-CPS, this study explores how pre-migration factors—such as financial norms, home-country banking system maturity, and language proficiency—interact with post-migration factors like citizenship status, age of arrival, and ethnicity enclave capital to influence financial engagement. These variables affect immigrants' interaction with formal financial services, which tend to have more regulation, and can also push them toward alternative financial services that often have less regulation, potentially higher interest rates, and additional service fees. Access to regulated financial services is essential for resilience against economic shocks. Findings will identify key barriers that immigrant populations face, guiding policies and initiatives aimed at promoting financial equity and resilience. By addressing these disparities, financial institutions and policymakers can create a more inclusive financial system that strengthens the economic well-being of underserved consumers. 
Thursday April 17, 2025 8:00am - 9:30am EDT
Bob & Delores Hope (Mezzanine)
 
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