Lance Palmer

Leisure Travel Expenditure Patterns by Family Life Cycle Stages

Abstract This study examines travel expenditure patterns by family life cycle (FLC) stages and identifies characteristics that influence the likelihood and level of travel expenditures in the U.S. The 1999–2000 Consumer Expenditure (CE) survey is used and a two-stage tobit regression analysis is performed. Across the FLC, families maximize their utility through different allocations of resources among leisure travel goods and services as shown by the results of this study. Marrieds without children are more likely to spend on leisure travel than singles, whereas single parents and solitary survivors are less likely to spend on leisure travel than singles. Moreover, Marrieds without children, full nesters II, and empty nesters spend significantly more than singles, whereas solitary survivors spend significantly less on leisure travel. Constraint factors (time and money) and various sociodemographic characteristics are significantly associated with the likelihood of spending on leisure travel and total expenditures. Based on these findings, implications formarketers are discussed.

Saving for Success: Financial Education and Savings Goal Achievement in Individual Development Accounts

Using microdata from the American Dream Demonstration, the current study examines factors associated with savings and savings goal achievement (indicated by a matched withdrawal) among participants of individual development account (IDA) programs. Multinomial logit results show that hours of participation in financial education programs, higher matched caps, prior use of a savings account, and greater educational attainment are each associated with a greater likelihood of savings and savings goal achievement. IDA programs need to maximize available resources, particularly financial education, to assist participants in achieving savings goals.

Content and Delivery in Financial Education Programs

This chapter provides an overview of topics commonly covered in financial education programming and a more detailed description of innovative content integration not previously addressed in literature. In addition, a discussion on various techniques of content delivery is included, and many modes of delivery which are based in experiential learning theory. Specific descriptions of and recommendations associated with currently existing university-based financial education programs are provided.

A Case Study Demonstrating the Use of Appreciative Inquiry in a Financial Coaching Program

This article presents a case study of appreciative inquiry applied to client work within the context of a solution-focused, financial coaching program. Appreciative inquiry (AI) is a process—a generative process—wherein a client envisions, describes, and constructs a new meaning or reality through structured questions and answers, and then designs a way to get there (to their destiny). The origins, tenets, and applications of AI approach are described, followed by a case study to facilitate a clients overcoming of a specific, maladaptive money script utilizing AI. The article provides implications for financial practitioners and a foundation for future research on the effectiveness of the AI approach in financial coaching.

Individual wealth accumulation: Why does dining together as a family matter?

This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who had sufficient self-regulation to regularly eat meals together with their family, increased wealth at a faster rate than others between 1994 and 2004. Moreover, those who exhibited self-regulation by frequently spending mealtime with their family showed greater preference for investment portfolio diversification. Consistent with other studies, results indicate that wealth accumulation increased with age, income, and educational attainment.