IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.
Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.
Scroll down to search by the Submitter or Author Name, by Date/Time, or by Keywords.
Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.
207 Seeing the Big Picture Clearly: Financial Capacious Acuity and Goal Setting
Short Description
Setting financial goals can promote a favorable financial situation and well-being. It has been suggested that financial awareness is an important underlying driver of positive financial behaviors like goal setting. Yet awareness studies have focused on an individual’s current financial situation. In this study, we expand the view of personal financial awareness to incorporate expectations for expected future situations. We develop the construct of financial capacious acuity or FCA (i.e., the ability of an individual to see the big picture of their current and future financial situation clearly). We develop a brief measure of FCA and show how it is related to goal setting directly and indirectly through decision confidence and willingness to take risks. We found that the future dimension of FCA had a positive association with goal setting while the current dimension had an indirect negative association with goal setting through its influence on an individual’s willingness to take risk. The current and future dimensions were both positively associated with decision confidence. Our results suggest that having a clear and holistic view of the current and expected future financial situation is important in promoting behaviors such as goal setting.
Type of presentation
Accepted Poster Presentation