The purpose of this study was to determine if there were differences between testate or intestate university employees relative to: 1) demographic characteristics (age, income health, marital status, education, number of children, housing tenure, and gender), 2) planned personal and family retirement income sources (including: savings, individual retirement accounts, mutual funds, stocks and/or bonds, income from property ownership, sale of real estate or other property, annuities, or paid-up life insurance), 3) total number of planned personal and family retirement income sources. The study also examined anticipated decision making difficulty scores on certain housing issues for testate or intestate university employees, to determine if there was a significant difference in university employees' mean decision making difficulty scores on certain housing issues by testacy status, income level, and age, or gender. Data were collected in a 1987 Western Region mail survey (Thinking Ahead to Retirement: Community and Housing Choices), of land grant university employees in nine western states. The sample consisted of 5663 land grant university employees who were at least 40 years of age. Statistical analyses of the data were computed using Chi-square tests, T-tests, and General Linear Models (GLM/ANOVA) procedures with Student Newman-Keuls (SNK) post hoc tests. Chi-square analysis results revealed significant differences among testacy status on all demographic variables. Evidenced by findings, testacy rates were higher among university employees who were 1) older, 2) higher income, 3) higher education level, and 4) male. Chi-square analysis indicates an association between testacy and being married or widowed, having children, and owning one's home. Testacy is more common among university employees who plan more numbers and types of personal and family retirement income sources. Significant differences were also found among testacy status and all of the planned personal and family retirement income sources. Testate employees had significantly larger total number of planned retirement income sources than intestate employees. Testate respondents had a higher mean decision making difficulty score of certain housing issues (1.89) than did intestate respondents (1.86). Results of the decision making question indicate university employees perceptions of how difficult they think it will be to make future decisions about aging and housing issues. GLM /ANOVA results indicated that employees with income above $25,000, aged 40 to 49 years, and male anticipated greater decision making difficulty on certain housing issues than respondents in other categories. Results of this research could be of interest and use to university policy makers, educators, entrepreneurs, and researchers. Applying these results, these groups can target families with high need, and assist these families in achieving personal and family, testacy, and financial goals. / Graduation date: 1991

Financial professionals are advocating a personal counselling framework to deal with financial issues. Many popular magazines are discussing this new persective on financial planning and services offered to clients. This new spin on financial advising finds financial personnel going beyond money and including personal counselling content. Articles from both academic and popular journals support the basis for this new awareness. They point to the fact that financial health and psychological health are connected and interrelated. The problem with traditional financial counselling is that financial personnel are trained to deal with numbers and money, and are not trained to counsel personal issues. Therefore, considering the potential ramifications, it is imperative that financial and psychological professionals work effectively together. The goal of addressing the issue, found within this study, is to increase service delivery to clients, both from financial as well as psychological perspectives. Ultimately, this research aims to determine how to improve, and thus increase the level of referral and collaboration between these two fields. Thirty interviews were conducted with financial personnel currently working in Western Canada. The interview population consisted of Chartered Accountants, and Certified Financial Planners and Advisors. The Financial Personnel Interview was used to collect data and explore the perceptions of the existing processes of referral and collaboration between themselves and psychologists. The interview covered an array of topics including eight parts: Demographic Information, Recognizing and Defining Personal and Psychological Issues, Addressing Personal and Psychological Issues, Roles of Financial Personnel, Referral, Collaboration, Concluding Thoughts and the Client Problem Table. Extreme viewpoints emerged from the data. One is that these worlds are too different, personal counselling is not their responsiblity and there is no need for referral and collaboration. However, the majority of financial personnel believe there is a lack of understanding between the professions, the two worlds overlap and there is a need for referral and collaboration. In order to make referral and collaboration happen, it will have to start with baby steps; it will also take willingness, time and education to move from an unknown territory to a place where clients benefit from both professions. / xiii, 162 leaves ; 28 cm.

Social Cognitive Career Theory (SCCT; Lent, Brown, & Hackett, 1994) provided a theoretical framework for the present study. Students’ beliefs in their abilities to perform academic tasks (i.e., academic self-efficacy; Solberg, O’Brien, Villarreal, Kennell, & Davis, 1993) and to make career-related decisions (i.e., career decision self-efficacy; Betz & Taylor, 2001) are influential in their completion of college. College students with limited financial resources and those who do not have a family member in an older generation who graduated from college may not experience the same degree of efficacy as those students with greater financial resources or a college graduate role model in their families (Horn & Nuñez, 2000; Oliver, Rodriguez, & Mickleson, 1985; Wohlgemuth et al., 2006-2007). The present study tested two hypotheses: 1) First-generation college students will express lower levels of academic self-efficacy and career decision self-efficacy than continuing-generation college students; and 2) College students with high financial stress will express lower levels of academic self-efficacy and career decision self-efficacy than those with low financial stress. A 2 x 3 factorial multiple analysis of variance (MANOVA) was used to test the hypotheses. Significant results of the MANOVA were explored using descriptive discriminant function analysis. Three post-hoc analyses were also completed. The results revealed no significant differences on levels of academic or career decision self-efficacy based on generational status, however, differences in both forms of self-efficacy were found based on financial stress. Strengths and limitations, implications for theory and counseling, and directions for future research are discussed. Consistent with SCCT, the salient factor of financial stress has an influence on college students’ academic self-efficacy and career decision self-efficacy. Contrary to much of the past research, one’s generational status does not have an influence on these two variables. / Department of Counseling Psychology and Guidance Services

Thesis (PhD)--Macquarie University (Macquarie Graduate School of Management), 2006. / Bibliography: p. 242-259. / The research objective of this study is to investigate the relationship between an individual's involvement and their behaviour to prepare financially for retirement. More particularly, to determine if there is a significant positive relationship between involvement and their financial preparation for retirement, to establish whether the influence of involvement is moderated by an individual's age, income or gender, their level of education or the number of dependents they support, and to explore the role of involvement in how and why individuals form opinions about financial preparation for retirement. / Mode of access: World Wide Web. / xiv, 259 p

Thesis (M.B.A.)--University of Hong Kong, 1996. / Includes bibliographical references (leaf 59-63).

A Alfabetização Financeira compreende um conjunto de conhecimentos sobre finanças pessoais que pode conduzir um indivíduo a melhores decisões financeiras. O indivíduo é dito alfabetizado financeiramente se é capaz de demonstrar seu conhecimento por meio de ações. Os processos educacionais são a forma de tornar os indivíduos alfabetizados financeiramente, para que atinjam equilíbrio em suas vidas financeiras. Embora assuma-se que a alfabetização possa ser obtida por meio de experiências práticas (e da ativa integração do conhecimento), ela é difícil de ser medida. Isto ocorre porque é difícil apurar quais conhecimentos são necessários possuir, como oferecer estes conhecimentos, como testar se de fato foram compreendidos, e como avaliar se tais conhecimentos serão aplicados corretamente, em cenários onde existe permanente incerteza, nos quais deve ser considerado satisfatório atingir equilíbrio financeiro. Neste contexto, entende-se que a Educação Financeira é um tema complexo a ser desenvolvido pedagogicamente, pois ele envolve questões culturais e comportamentais que ultrapassam as paredes de uma sala de aula. Destacam-se como pontos importantes a complexidade da ação humana, os aspectos emocionais e os vieses comportamentais. Todos estes elementos são relevantes no processo de tomada de decisão, porém, são comumente negligenciados quando o tema Educação Financeira é tratado. Diversos trabalhos apontam a relevância dos projetos de Educação Financeira. Grande parte deles, contudo, indicam que os resultados práticos não são plenamente satisfatórios. Partindo-se desta problemática, este trabalho busca compreender os motivos das dificuldades para o alcance de melhores resultados, além de propor e avaliar abordagens aplicáveis ao ensino deste tema. A investigação se concentrou primeiramente em elencar os fundamentos que norteiam o processo de aprendizagem, analisando fatores relevantes para seu alcance, com o auxílio de recursos tecnológicos. O trabalho inclui a avaliação de projetos de Educação Financeira e os resultados apontados. Por meio deste estudo foi possível identificar e dividir a formação do conhecimento e comportamento financeiros em cinco pilares: técnica matemática, comportamento intrapessoal, reação interpessoal, produtos e conceitos financeiros, compreensão e lógica econômica. Esses pilares englobam os conceitos fundamentais para uma arquitetura educacional a ser elaborada, e atuam como um dos princípios para a concepção de uma plataforma educacional, junto a outros três princípios norteadores: a consideração sobre a ação humana, a tolerância ao erro e o uso de recursos de tecnologia em projetos educacionais. Partindo-se de tais pressupostos, elaborou-se a Plataforma EduCoelho, que integra, em especial, um jogo para estimular a reflexão comportamental acerca de um sonho de consumo: a compra de um automóvel. Além do jogo, desenvolveu-se um conjunto de videoaulas para abordar, de forma explícita e sistemática, conteúdos importantes para que a aprendizagem tenha sucesso. Por meio de pré e pós-testes, avaliação de desempenho e do uso da plataforma pelos usuários do jogo, procurou-se coletar dados sobre concepções prévias, percepções dos participantes sobre questões comportamentais e evidências de aprendizagens. Por fim, este trabalho apresenta a análise realizada, avaliando o processo de desenvolvimento e aplicação da plataforma proposta, a fim de procurar evidências de que a Educação Financeira pode oferecer subsídios e elementos que auxiliem de maneira significativa, podendo repercutir positivamente na vida adulta dos estudantes. / Submitted by Ana Guimarães Pereira (agpereir@ucs.br) on 2017-09-21T16:30:56Z No. of bitstreams: 1 Dissertacao Eduardo Wartchow.pdf: 2729225 bytes, checksum: ce5885f894daccde1ae2131ff6c18a3b (MD5) / Made available in DSpace on 2017-09-21T16:30:56Z (GMT). No. of bitstreams: 1 Dissertacao Eduardo Wartchow.pdf: 2729225 bytes, checksum: ce5885f894daccde1ae2131ff6c18a3b (MD5) Previous issue date: 2017-09-21 / Financial Literacy comprises a body of knowledge about personal finances that can lead to better financial decisions in an individual´s life. An individual is considered financially literate if one is able to demonstrate knowledge through one´s actions. Individuals become financially literate through educational processes that seek to provide these individuals with the information necessary to achieve stability in their financial lives. Although it is assumed that literacy can be gained through practical experiences (and an active knowledge building), it is very difficult to measure. This is the case because it is hard to assess what skills are necessary to hold, how to offer the knowledge, how to test if the skill was learned, and the evaluation on whether or not these skills will be properly applied in scenarios of continuous uncertainty, in which it should be considered satisfactory to achieve financial equilibrium. In this context, it may be considered that Financial Education is a complex subject to be developed pedagogically, as it involves cultural and behavioral aspects that go beyond the walls of a classroom. The complexity of human action, emotional aspects and behavioral biases are highlighted as important points. All these elements are relevant in the decision-making process, however, they are commonly neglected when the subject Financial Education is treated. Several works point out the relevance of Financial Education projects. Most of them, however, indicate that the practical results are not satisfactory at all. Based on this problem, this work seeks to understand the reasons behind the difficulties in achieving better individual results, as well as to propose and evaluate approaches applicable for teaching when dealing with this subject. This research first focused on describing the fundamentals that guide the learning process while analyzing factors relevant for its attainment with the use of new technology tools. The subject of analysis were Financial Education projects and its demonstrated results. This study states that it is possible to identify and divide knowledge building and financial behavior in five pillars: mathematical technique, intrapersonal behavior, interpersonal reaction, financial products and concepts, overall understanding and economic logic. These pillars act as one of the principles for designing an educational platform alongside three other guiding principles: to consider the human action, the tolerance for error, and the use of technology resources in educational projects. Based on these assumptions, the EduCoelho Platform consists of a game to stimulate the behavioral reflection about a dream of consumption: the purchase of a car. In addition to the game, a set of video lectures was developed to explicitly and systematically address important points in order for the user to achieve a successful learning. Moreover, the game enables the collection of statistics before and after its usage that allows the evaluation of performance while observing participants' perceptions about behavorial issues and learning evidences. In closing, an analysis evaluating the development of the platform is made in order to provide evidence that Financial Education can be helpful in a meaningful way for student’s future life.

A Alfabetização Financeira compreende um conjunto de conhecimentos sobre finanças pessoais que pode conduzir um indivíduo a melhores decisões financeiras. O indivíduo é dito alfabetizado financeiramente se é capaz de demonstrar seu conhecimento por meio de ações. Os processos educacionais são a forma de tornar os indivíduos alfabetizados financeiramente, para que atinjam equilíbrio em suas vidas financeiras. Embora assuma-se que a alfabetização possa ser obtida por meio de experiências práticas (e da ativa integração do conhecimento), ela é difícil de ser medida. Isto ocorre porque é difícil apurar quais conhecimentos são necessários possuir, como oferecer estes conhecimentos, como testar se de fato foram compreendidos, e como avaliar se tais conhecimentos serão aplicados corretamente, em cenários onde existe permanente incerteza, nos quais deve ser considerado satisfatório atingir equilíbrio financeiro. Neste contexto, entende-se que a Educação Financeira é um tema complexo a ser desenvolvido pedagogicamente, pois ele envolve questões culturais e comportamentais que ultrapassam as paredes de uma sala de aula. Destacam-se como pontos importantes a complexidade da ação humana, os aspectos emocionais e os vieses comportamentais. Todos estes elementos são relevantes no processo de tomada de decisão, porém, são comumente negligenciados quando o tema Educação Financeira é tratado. Diversos trabalhos apontam a relevância dos projetos de Educação Financeira. Grande parte deles, contudo, indicam que os resultados práticos não são plenamente satisfatórios. Partindo-se desta problemática, este trabalho busca compreender os motivos das dificuldades para o alcance de melhores resultados, além de propor e avaliar abordagens aplicáveis ao ensino deste tema. A investigação se concentrou primeiramente em elencar os fundamentos que norteiam o processo de aprendizagem, analisando fatores relevantes para seu alcance, com o auxílio de recursos tecnológicos. O trabalho inclui a avaliação de projetos de Educação Financeira e os resultados apontados. Por meio deste estudo foi possível identificar e dividir a formação do conhecimento e comportamento financeiros em cinco pilares: técnica matemática, comportamento intrapessoal, reação interpessoal, produtos e conceitos financeiros, compreensão e lógica econômica. Esses pilares englobam os conceitos fundamentais para uma arquitetura educacional a ser elaborada, e atuam como um dos princípios para a concepção de uma plataforma educacional, junto a outros três princípios norteadores: a consideração sobre a ação humana, a tolerância ao erro e o uso de recursos de tecnologia em projetos educacionais. Partindo-se de tais pressupostos, elaborou-se a Plataforma EduCoelho, que integra, em especial, um jogo para estimular a reflexão comportamental acerca de um sonho de consumo: a compra de um automóvel. Além do jogo, desenvolveu-se um conjunto de videoaulas para abordar, de forma explícita e sistemática, conteúdos importantes para que a aprendizagem tenha sucesso. Por meio de pré e pós-testes, avaliação de desempenho e do uso da plataforma pelos usuários do jogo, procurou-se coletar dados sobre concepções prévias, percepções dos participantes sobre questões comportamentais e evidências de aprendizagens. Por fim, este trabalho apresenta a análise realizada, avaliando o processo de desenvolvimento e aplicação da plataforma proposta, a fim de procurar evidências de que a Educação Financeira pode oferecer subsídios e elementos que auxiliem de maneira significativa, podendo repercutir positivamente na vida adulta dos estudantes. / Financial Literacy comprises a body of knowledge about personal finances that can lead to better financial decisions in an individual´s life. An individual is considered financially literate if one is able to demonstrate knowledge through one´s actions. Individuals become financially literate through educational processes that seek to provide these individuals with the information necessary to achieve stability in their financial lives. Although it is assumed that literacy can be gained through practical experiences (and an active knowledge building), it is very difficult to measure. This is the case because it is hard to assess what skills are necessary to hold, how to offer the knowledge, how to test if the skill was learned, and the evaluation on whether or not these skills will be properly applied in scenarios of continuous uncertainty, in which it should be considered satisfactory to achieve financial equilibrium. In this context, it may be considered that Financial Education is a complex subject to be developed pedagogically, as it involves cultural and behavioral aspects that go beyond the walls of a classroom. The complexity of human action, emotional aspects and behavioral biases are highlighted as important points. All these elements are relevant in the decision-making process, however, they are commonly neglected when the subject Financial Education is treated. Several works point out the relevance of Financial Education projects. Most of them, however, indicate that the practical results are not satisfactory at all. Based on this problem, this work seeks to understand the reasons behind the difficulties in achieving better individual results, as well as to propose and evaluate approaches applicable for teaching when dealing with this subject. This research first focused on describing the fundamentals that guide the learning process while analyzing factors relevant for its attainment with the use of new technology tools. The subject of analysis were Financial Education projects and its demonstrated results. This study states that it is possible to identify and divide knowledge building and financial behavior in five pillars: mathematical technique, intrapersonal behavior, interpersonal reaction, financial products and concepts, overall understanding and economic logic. These pillars act as one of the principles for designing an educational platform alongside three other guiding principles: to consider the human action, the tolerance for error, and the use of technology resources in educational projects. Based on these assumptions, the EduCoelho Platform consists of a game to stimulate the behavioral reflection about a dream of consumption: the purchase of a car. In addition to the game, a set of video lectures was developed to explicitly and systematically address important points in order for the user to achieve a successful learning. Moreover, the game enables the collection of statistics before and after its usage that allows the evaluation of performance while observing participants' perceptions about behavorial issues and learning evidences. In closing, an analysis evaluating the development of the platform is made in order to provide evidence that Financial Education can be helpful in a meaningful way for student’s future life.

In a world where almost half of the population lives in poverty, the alleviation of poverty is a serious developmental challenge for many states. Microfinance has grown in popularity as a means for achieving poverty reduction all over the world. Due to the success of microfinance institutions, such as the Grameen Bank, in achieving self-sufficiency and improving the lives of its clients, the expectations for similar institutions are high. MFIs attempt to find a balance between business and development goals. It is not necessarily a contradiction to be a business seeking profit as well as being an institution committed to development. However, the values coupled with these two objectives are sometimes conflicting. Thus it is important to see how equilibrium can be achieved and to note what sacrifices must be made in order to reach a balance. This thesis will focus on examining and assessing the challenges faced by South African MFIs in balancing development goals while at the same time having to be self-sufficient. The Small Enterprise Foundation will be used as a case study to consider the particular experiences of a South African MFI. The evaluation of the unique challenges that the South African landscape presents will provide a context in which to understand microfinance operations and a clearer understanding of the particular problems and challenges faced by the South African micro-finance industry in balancing the achievement of development goals against the imperative to be self sustainable in providing services to the poor. Through that understanding the common conception of what makes a “successful” MFI will also be challenged.

Despite the importance of retirement planning, many South Africans have been documented as reaching retirement age without adequate retirement funding. A vast amount of research has been conducted on how proper retirement planning can be beneficial for individuals; however, there has been a lack of attention given to researching the retirement planning of black individuals in South Africa. Thus, the primary objective of this study was to identify, investigate and empirically test which factors influence retirement planning, and which aspects of retirement planning influence the retirement funding adequacy of black individuals. After a comprehensive literature review was undertaken on the factors influencing the retirement planning and retirement funding adequacy of individuals, the following independent variables were identified as influencing the mediating variable (Aspects of retirement planning) and the dependent variable (Retirement funding adequacy) in this study: • Financial literacy; • The role of the financial planner; • Family support structure; and • Health status. These independent variables were selected to construct a hypothesised model and research hypotheses, as they have been identified as the prominent factors that influence the retirement planning of black South Africans. Furthermore, these independent variables were used in determining whether they have an influence on the Aspects of retirement planning (incorporating Retirement provisions, Retirement attitudes and Retirement intentions) and, ultimately, improve the Retirement funding adequacy of individuals. In order to establish the influence of the aspects of retirement planning on the retirement funding adequacy of individuals, an empirical investigation was undertaken. A measuring instrument, in the form of a questionnaire, was compiled from secondary literature sources. The respondents were identified though a mixed sampling approach, whereby stratified sampling and convenience sampling were used to attain 441 usable questionnaires that were subjected to statistical analyses. Descriptive statistics, in the form of frequency distributions, were used to summarise Section A and Section B of the measuring instrument. The validity and reliability of the measuring instrument were confirmed by means of exploratory factor analyses (EFA), and Cronbach’s alpha coefficients were also calculated for this purpose. As a result of conducting the EFA, two independent variables (Family support structure and Health status) loaded together, and the factor was renamed accordingly. From the EFA, the independent variables that emerged were The role of the financial planner, Family, health, and financial well-being, and Financial literacy. Furthermore, the EFA revealed that three mediating variables emerged from the mediating variable Aspects of retirement planning. These three mediating variables were consequently named Retirement intentions, Retirement attitudes, and Retirement provisions. There were no eliminated variables in this study. Based on the results of the EFA, some of the definitions of the variables were adapted. Consequently, the hypothesised model and its research hypotheses were adapted to reflect the results of the EFA. The results of the Cronbach’s alphas calculated reported that all the measuring scales used in the questionnaire of the study were reliable. Furthermore, descriptive statistics were also calculated to summarise the sample data, and Pearson’s product moment correlations were calculated to establish the correlations between all the variables used in this study. A multiple regression analysis was used to investigate the influence of the various independent variables on the mediating variables and the dependent variable. Furthermore, structural equation modelling (SEM) was used as the main statistical procedure to test for mediation in the study. SEM was also used to assess and confirm the results of the multiple regression analyses. Based on the results of the multiple regression analyses and SEM, the hypothesised relationships of the study were accepted or rejected. Additionally, the results of SEM revealed that the revised model of the study displayed acceptable model fit. To conclude the empirical investigation, t-tests and an analysis of variance (ANOVA) tests were performed to assess whether the respondents’ perceptions of the variables used in the study differed as a result of the respondents’ demographic information. Furthermore, to establish significant differences between individual mean scores, post-hoc Tukey tests were calculated, and practical significance was assessed by calculating Cohen’s d values. The main empirical results of the study found that statistically significant relationships exist between the independent variables The role of the financial planner and Family, health, and financial well-being, and the mediating variable Retirement intentions. Furthermore, a significant relationship was found between the independent variable Financial literacy and the mediating variable Retirement attitudes. Other significant relationships were present between all the independent variables The role of the financial planner, Family, health, and financial well-being and Financial literacy, and the mediating variable Retirement provisions. The study also established statistically significant relationships between the mediating variables Retirement attitudes and Retirement provisions and the dependent variable Retirement funding adequacy. Statistically significant relationships were also present between the independent variables Family, health, and financial well-being and Financial literacy and the dependent variable Retirement funding adequacy. This study has added to the limited amount of academic literature in the field of retirement planning in South Africa. Through the hypothesised model developed in this study, a significant contribution has been made towards investigating the factors that influence the retirement planning and retirement funding adequacy of black individuals residing in South Africa. This study presents recommendations to black individuals on practical strategies that could help to improve their retirement planning and retirement funding adequacy. Furthermore, suggestions are presented to financial planners and financial institutions, in order to assist black individuals or potential clients to improve their retirement planning and to help ensure that individuals are financially independent when they reach retirement age. It is recommended that financial institutions provide financial products/services that will cater to black South Africans.

Pension fund investments have been under the spotlight lately, particularly on the back of the recent global financial and economic crisis that resulted in a significant reduction in pension fund assets across economies. Increased poverty levels and high financial indebtedness abound, as workers grapple with retrenchments, reduction in retirement benefits and reduced wages. This is causing a re-assessment of investment strategies of pension funds across the globe, and increasing support for the argument that, the traditional equity/government bond asset allocation is out - fashioned in a world of lower returns and wider choices. Pension funds by virtue of their size, can impact the society directly and/or indirectly through investments in companies that incorporate environmental, social and governance issues in their corporate behaviours, or in dedicated socially responsible investment funds or other forms of alternative investments. This study sought to provide a link between the investment patterns of pension funds and national economic development. An in-depth literature review was undertaken, and investments impacts were assessed by looking at published reports of select funds and corporations. Pension funds are an integral part of a nation‟s economy. This research work established the various dimensions in which pension fund investments can impact the socio economic development of a country, especially in developing countries, where there exists a huge infrastructural and economic gap among different sectors of the economy. Pension funds are workers capital, and therefore should be invested in a manner that will benefit workers, and these benefits cannot be restricted to mere financial benefits, it should be able to generate social, financial and environmental benefits, and in a sustainable way.