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For Love or Money? Factors Associated With the Choice Between Couple-Based Versus Individual Financial Coaching
- Source :
- Journal of Financial Counseling and Planning. 32:52-67
- Publication Year :
- 2020
- Publisher :
- Springer Publishing Company, 2020.
-
Abstract
- There has been much effort in recent years to address some of the damage of the recent global financial crisis with financial literacy education. Little research has been done, however, on the factors that might affect the decision to seek individual versus couples-based financial education. We used a survey instrument administered via the online labor market, Mechanical Turk, to examine factors associated with this outcome: whether members of a couple would choose individual or couples financial coaching. All participants were screened for current membership in a committed relationship for at least 6 months. Most participants reported a preference for couples versus individual financial counseling. Key factors that predicted a likelihood to opt for couples' counseling include gender, age, and satisfaction with one's relationship. Results from this study suggest that how and why consumers seek financial education may be affected by social, cultural, emotional, and relational factors as well as financial concerns. Such factors should be considered by practitioners in this field if program marketing, design, and delivery are to be relevant to participants and effective.
- Subjects :
- Cultural influence
Economics and Econometrics
Age differences
business.industry
05 social sciences
Coaching
Help-seeking
Interpersonal relationship
Marital satisfaction
050902 family studies
0502 economics and business
050207 economics
0509 other social sciences
Psychology
business
Social psychology
Money management
Finance
Social influence
Subjects
Details
- ISSN :
- 19477910 and 10523073
- Volume :
- 32
- Database :
- OpenAIRE
- Journal :
- Journal of Financial Counseling and Planning
- Accession number :
- edsair.doi...........8ee0bd50b079a43a2751f3df56322e9b
- Full Text :
- https://doi.org/10.1891/jfcp-18-00056