Financial decisions are compelled and constrained by non-financial factors. These include personality characteristics of individuals as well as the social environments in which decisions are made. This paper by Karen Holden provides an overview of theories that seek to explain how non-financial factors influence financial decisions: Developmental Psychology, Crystallized and Fluid Intelligence, Behavioral Economics, Neuro-Brain … Continue reading The Emotions and Cognitions Behind Financial Decisions: The Implications of Theory for Practice
Working Papers
Harnessing the Power of Technology to Enhance Financial Literacy Education and Personal Financial Well-Being
The development and use of technology-based tools for financial literacy education has grown rapidly in recent years. However, little attention has been given to understanding why such technologies may be expected to enhance outcomes for either general or vulnerable populations. This literature review by Wendy L. Way and Nancy Wong fills this gap by examining … Continue reading Harnessing the Power of Technology to Enhance Financial Literacy Education and Personal Financial Well-Being
Trigger Events and Financial Outcomes among Older Households
WP 10-2 by Geoffrey Wallace, Robert Haveman, Karen Holden, and Barbara Wolfe follows a sample of social security beneficiaries drawn from the Health and Retirement Study from their first year of retirement (or social security receipt) for up to 15 years into retirement. The rates at which retirees are subject to family structure change, cognitive … Continue reading Trigger Events and Financial Outcomes among Older Households
University of Wisconsin-Madison Center for Financial Security 