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2020 Conference

May 18–20, 2020

Proposal authors can use this tool to see where they have been placed in the agenda for a Symposium, an Oral Session, or a Featured Research Session Poster.

Scroll down to search by Authors (Person)*, Date/Time, and Keywords. Rooms have not been assigned yet, so the locations are just generic place holders. *Note: If the submitting author did not add all the authors to the ProposalSpace form, only the First & Corresponding Author will be searchable.

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F2a Is Ignorance Bliss? Use of Alternative Financial Services and Financial Anxiety

Thursday, May 21, 2020 at 2:45 PM–4:15 PM CDT
Room 2
Key Words

Alternative Financial Services, Financial Anxiety, Financial Literacy

Short Description

This study examined various factors associated with the level of financial anxiety using the 2018 National Financial Capability Study (NFCS) dataset. Especially, we focused on the association between uses of alternative financial services (AFS) and financial anxiety. Five different types of AFS options such as auto title, payday loans, refund anticipation check, pawnshops, and rent-to-own stores were examined separately and combined. Further, we investigated the moderating role of financial literacy on the relation between different types of AFS use and financial anxiety. The interaction terms in the regression models revealed differential effect of financial literacy on financial anxiety based on the type of AFS. The results provide important insights to financial educators and policymakers interested in resolving financial anxiety of the US households.

First & Corresponding Author

Soo Hyun Cho, California State University, Long Beach
Authors in the order to be printed

Soo Hyun Cho, Kyoung Tae (KT) Kim

Additional Authors

Kyoung Tae Kim, University of Alabama
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