With the support of a grant from the FINRA Investor Education Foundation researchers, J. Michael Collins and Carly Urban, conducted a study that examines the financial well-being of young adults through the lens of gender and educational attainment. Using the CFPB’s Financial Well-Being Scale, the research contrasts the financial well-being of men and women among college graduates and high school only graduates.
The thirty-five day, partial Federal shutdown caused 800,000 employees to miss paychecks. Faculty Director of CFS and Associate Professor of Public Affairs and Consumer Science, J. Michael Collins, provided insight into what this means for many of the workers effected and how this highlights the issues of poverty, financial insecurity, and fragility of many American’s financial lives.
“A Safety Net That Has A Frayed Bottom Makes People Feel More Financially Vulnerable Than They Already Are,” J. Michael Collins
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Faculty Director, Center for Financial Security
Fetzer Family Chair in Consumer and Personal Finance
Professor, Consumer Science
Professor, La Follette School of Public Affairs
University of Wisconsin-Madison
In addition to serving as Faculty Director of Center for Financial Security, I hold appointments at the La Follette School of Public Affairs, UW-Extension, Cooperative Extension and the Institute for Research on Poverty.
I study consumer decision-making in the financial marketplace, including the role of public policy in influencing credit, savings and investment choices. My current focus is on financial capability and well-being with a focus on low-income families.
I came to academia after consulting and working in the nonprofit/foundation sector, as well as the public sector. My masters is from the John F. Kennedy School of Government and Harvard University and my PhD is from Cornell University.
Areas of Research Interest: Consumer Decision-Making in the Financial Marketplace, Role of Public Policy in Influencing Credit, Savings and Investment Choices, Financial Capability with Focus on Low-Income Families, and Household Finance
Four La Follette School faculty members have received funding from the Herb Kohl Public Service Research Competition’s third round of awards. The Kohl Competition supports nonpartisan research that informs critical public policy and governance debates and advances evidence-based decision-making.
J. Michael Collins, Faculty Director of the Center for Financial Security and Associate Professor in Consumer Science, was awarded the H.I. Romnes Faculty Fellowships Award. This program, funded by WARF in recognition of the leadership of the late WARF Trustee President H. I. Romnes, is designed to bridge the gap between the Research Committee’s initial research support for new faculty and the Mid-Career Award for Faculty Research. Dr. Collins research on consumer behavior insights focus primarily on the role of information in consumer decision making, especially for low-income and vulnerable households. Dr. Collins serves UW Cooperative Extension as a state specialist in family economics and household finance.
Read more about the award here.