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This article describes development of the InCharge Financial Distress/Financial Well-Being Scale, designed to measure a latent construct representing responses to one's financial state on a continuum ranging from overwhelming financial distress/lowest level of financial well-being to no financial distress/highest level of financial well-being. It describes a formative Delphi study, validity criteria and testing, factor analysis, Cronbach's alpha coefficients, administration instructions, norming of the data and score interpretation, and implications for use. [ABSTRACT FROM AUTHOR]

Positive financial behaviours of consumers are examined using a national sample of consumers who use credit counselling services in the US from a behavioural economic perspective. The findings indicate that consumers in credit counselling may follow a hierarchical pattern in their financial behaviours, paying off debts and adjusting spending before considering saving. Consumers who are older, have a part-time job (vs. the unemployed), and report a more secure retirement, a better family relationship, and a higher score of self-evaluation of financial behaviours are likely to report more positive financial behaviours. Reporting more financial behaviours and a higher score of self-evaluation of financial behaviours, along with several demographic and perception variables, tend to reduce financial stress and increase financial satisfaction among consumers who use credit counselling services. [ABSTRACT FROM AUTHOR]

The article discusses a study which examined the effects of credit counseling and debt management on financial management behaviors and financially stressful events. The study hypothesized that after 18 months in the debt management program (DMP) of a credit counseling agency, a sample of active clients would report better financial management behaviors and fewer financially stressful events than a similarly situated group that did not remain with the program. The data used for the study came from a nonprofit credit counseling agency that provides telephone counseling services.

The current study provides a description of the development to date of the Beta Version of the InCharge Institute Financial Distress Scale (FDS). The paper summarizes the use of measurement items in previous research. The results reported are from one of several data sets utilized in the development of a valid and reliable Beta Version of the FDS. A discussion supporting the uses for the Beta Version of the FDS follows. [ABSTRACT FROM AUTHOR]

The present study examined how financial well-being was associated with health and determined if credit counseling was related to the variables of financial well being and health. Data (n=175) were collected from clients of a large credit counseling organization on two occasions, once in June 2000 and again in January 2002. People who received credit counseling and remained in a debt management plan were compared with those who did not within the period of 18 months. The results indicate that financial well-being was associated with health. Additionally, financial well- being was a partial function of financial behavior and financial stressor events. Results also indicate that credit counseling had impacts in changing financial behaviors in a positive way and reducing financial stressor events, controlling for individual characteristics. [ABSTRACT FROM AUTHOR]

Presents a study which examined defined contribution retirement plans. How the retirement plans are regulated by the United States Department of Labor; Overview of the employer's model workplace financial education program; Why employees are not saving for retirement.

Presents information on the paradigm shift of consumer educators in the United States toward employee education. How the financial problems of employees affect their employers; Causes of financial problems faced by employees; Details on finance employee education.

The study was designed to measure the consumer knowledge and attitudes of college students enrolled at a representative Kenyan college. It was hypothesized that six variables (sex, academic level in college, academic major, rural or urban upbringing, having work experience and having completed a course in consumer education) would not be associated with achievement on the 47-item test or with the seven consumer attitude questions. The instrument was developed by the researcher for use in Kenya. Validity was checked by Kenyans as well as experts from the U.S. in test construction. Following a pre-test in Kenya, during the first week of classes in 1980, all students (n = 508) completed the instrument. Analysis of variance and chi-square tests were used to analyse the data. Achievement was 31.3 (67.9%) on the consumer education test which was considered a moderate score. Having completed a consumer education course was one variable associated with higher scores on the test. Students majoring in Dairy and Food Science Technology as well as Home Economics did better than other majors on the test. In general, the students strongly supported attitudes expected of rational and responsible consumers. [ABSTRACT FROM AUTHOR]