Sheraton Uptown, Albuquerque, NM, USA
Sunday, April 23 • 9:45am - 11:15am
D1A-Propensity to Plan, Financial Capability, and Financial Satisfaction

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To better understand consumer planning behavior, this study examined factors associated with the propensity to plan, the association between the propensity to plan and financial capability, and the association between the propensity to plan and financial satisfaction, a subjective measure of financial well-being. Compared to previous research on the propensity to plan with sample limitations, this study used data from the 2015 National Financial Capability Study, a large, nationally representative sample, to examine demographic and financial factors associated with the propensity to plan and potential effects of the propensity to plan on financial capability and financial satisfaction. The results show that there are demographic and financial differences in being a self-planner and the propensity to plan is positively associated with financial capability factors and financial satisfaction. The findings are unique, enrich the literature of consumer finance, and have implications for financial service professionals to better serve consumers.

Speakers & Presenters
avatar for Barbara O'Neill

Barbara O'Neill

Extension Specialist, Rutgers Cooperative Extension
avatar for Jing Jian Xiao

Jing Jian Xiao

Professor and JFCP Editor, University of Rhode Island
Dr. Jing Jian Xiao is a consumer economics professor at University of Rhode Island. He is also the editor of Journal of Financial Counseling and Planning and the co-guest editor for the special issue on “Consumer Wellbeing in Asia” of Journal of Consumer Affairs.

Sunday April 23, 2017 9:45am - 11:15am

Attendees (5)