This study was designed to compare the financial attitudes, financial behaviors, and financial satisfaction of limited income households and middle income households. Deacon and Firebaugh’s family resource management systems theory was used as the theoretical model for this study. Measures of financial attitudes concerned the areas of planning, credit, spending, saving, insurance, financial responsibility, and expectations. Measures of financial behaviors concerned the areas of planning, spending, saving, credit, insurance, taxes, and financial responsibility. Measures of financial satisfaction concerned satisfaction with standard of living and amount of money saved or invested. The respondents were a sub-set of an existing data base, Financial Attitudes and Practices of Virginia Citizens, Form A, (N=529). Forty-one respondents who reported a 1989 income below 125% of the poverty guidelines were included as the limited income sample. One hundred eight respondents who reported an income in 1989 between $30,000 and $44,999 were included as the middle income sample. Descriptive statistics were used for demographic items. T-tests and chi-square tests were used to compare responses to the individual measures by income group. A t-test compared the mean summed scores for the measures of financial attitudes using a Likert type response scale. There was a significant difference in the financial attitudes of limited income households and middle income households (p = .00). Using the same method for the measures of financial behaviors and financial satisfaction, it was found that there also were significant differences in the financial behaviors (p = .00) and financial satisfaction of limited income households and middle income households (p = .00). / Master of Science

Using data collected by the Virginia Agricultural Statistical Service in 1989, off-farm labor participation models were developed to identify factors that influence the probability that a farm operator or spouse in Virginia would choose to work off the farm. The sample indicated that a substantial proportion of Virginia farms had at least one member working off the farm. Higher total incomes were also earned by families with an operator and/or spouse working off the farm. In addition, the proportion of total income originating from off-farm sources was large regardless of whether the operator or spouse worked off the farm or not. As a result of this survey, the picture developed of farm operators and spouses in Virginia is different than a traditional view of farming would support. Because of the dichotomous dependent variable and the different responses expected from the operator and spouse, probit analysis was selected to estimate separate participation models for the farm operator and spouse. The empirical results reveal that human capital, labor supply and labor demand characteristics influence the off-farm employment decisions of both the operator and spouse, though not in a uniform manner. Additionally, variables found to be important to off-farm labor force participation were primarily not farm specific. Changes in the non-farm economy are expected to affect the majority of Virginia farms more than changes in the farm economy. It is also clear that the majority of farm families in Virginia have a vested interest in efforts made to develop and strengthen the local economy. / Master of Science

The purpose of the study was to determine the differences in the total annual income, total annual and monthly expenditures, and consumer expenditure patterns between American and foreign graduate students at Virginia Polytechnic Institute and State University (VPI & SU). The study was based on a survey entitled "Virginia Polytechnic Institute and State University Graduate Students Demographic and Economic Impact Study" conducted in April, 1989. The sample size used in the analysis was 442, including 373 American and 69 foreign students. The findings from the study showed that (1) the American students had significantly higher total monthly expenditures than did the foreign students; (2) the American students had significantly higher absolute expenditures on tax, auto insurance, gasoline and auto repair, medical, laundry, and gifts and contributions, while the foreign students had significantly higher expenditures for telephone calls~ and (3) the American students had significantly larger percentage expenditure on tax, auto insurance, gasoline and auto repair, and entertainment, while the foreign students had significantly larger percentage expenditures on food, utilities, telephone, and travel. / Master of Science

In less than two decades, African-American, female, leading-edge baby boomers (AAFLEBBs) will join the retirement population. AAFLEBBs are members of the largest generation in the history of the United States. This generation's economic well being has been threatened by high unemployment rates, factory closings and downsizings, eroding purchasing power, lack of financial management skills, and fluctuating income. There is a growing concern that boomers will not do well financially in retirement. The purpose of this study is to better understand the retirement planning process of eight AAFLEBBs. Also, this study focuses on identifying areas where additional research may be needed regarding retirement planning. This study utilized a qualitative method known as the long interview. Seven factors were identified that affected the retirement planning process of the eight African-American females studied. These factors were: the uncertain social security system, their children, job changes, parents' retirement, the fluctuating economy, day-to-day survival, and career development. Three categories were identified for additional research: retirement planning of baby boomers, methods for acquiring retirement information, and specific concerns of African-American females. One main conclusion resulted from the findings: the majority of the AAFLEBBs interviewed were giving little attention to retirement planning. Further research should be conducted on African-American females in their own context. Researchers should investigate retirement planning and how people can best prepare themselves for this time of their lives. Gerontologists could explore African-American females’ perceptions of aging and what they want to happen in their senior lives. Extension specialists, adult educators, financial planners, and other family economics and management specialists should develop information to help various groups understand the importance of preparing and planning at early ages for their eventual retirement. / Ph. D.